Advertisers want to visit “Riverdale” once again.
The CW expects to notch an increase in advertiser commitments for its primetime schedule, a sign of robust Madison Avenue activity in TV’s annual “upfront” sales market.
CW secured more in advance commitments than it did in 2018, according to a person familiar with the matter. The volume increase in commitments is believed to be the mid-single-digit percentage range. That means the network likely secured between $592.7 million and $663.4 million, according to Variety estimates.
In 2018, the network captured between $564.5 million and $631.8 million, according to Variety estimates, compared with between $490.9 million and $549.4 million in 2017. The CW, a joint venture of CBS Corp. and AT&T, saw a whopping 15% increase in volume last year after it added an extra night of original programming to its schedule.
The network, home to series such as “The Flash” and “Batwoman,” pitched advertisers on purchasing commercials inventory on both linear TV and streaming video, according to the person familiar with the matter, as well as a stable schedule that will include 14 returning series. The CW saw new business deals with pharmaceutical manufacturers and fast-food chains, this person said,
The network pressed for increases of between 14% and 15% in the rate of reaching 1,000 viewers, a measure known as a CPM that is central to these annual discussions between U.S. TV networks and advertisers. Last year, the CW pushed for CPM hikes of between 10% and 11%.
More to come….