The seven-station Los Angeles TV market bounced back in a big way in 1994 after a prolonged recession, with ad revenue hitting an all-time high of $1.16 billion.
Revenue jumped 11.75% over ’93, despite a fairly flat second quarter.
Although political advertising contributed heavily to the increase, market sources say spending was up across all categories, including telecommunications, automotive and retail.
The record-shattering performance ended a three-year dry spell for the market, which was the last in the country to be hit by the recession and the last to come out of it.
L.A. TV stations set the previous record of $1,149 billion in 1990, the year before the market went into the toilet.
Last year’s momentum appears to have carried over into the first quarter of ’95, with TV station execs describing spending as “robust.”
In addition to the seven VHF stations, L.A.’s three Spanish-language stations are believed to have billed a combined total of at least $100 million.