[opendtv] Re: Another view on media recovery

At 9:45 AM -0600 11/2/09, Manfredi, Albert E wrote:

Craig Birkmaier wrote:


 Here's another story about recovery of the ad markets for big media.
 Please note that almost all of the "growth" is coming from cable
 networks not the broadcast networks.


That's not at all the way I read it.

The summary is at the end, and it agrees with the previous article.
No it doesn't. The article starts out by stating that the financial community will be watching the results from most of the companies mentioned in the other report. And this report says noting about actual gains or losses, only that there will be some of both. The most revealing paragraph talks about the prospects for Viacom -
Greenfield now thinks that second-half ad revenue will be off by 5%, not the 7%-8% first predicted. UBS media analyst Mike Morris foresees that third-quarter ad revenue at Viacom will be down 4%, an improvement on the prior quarter.
Sounds a bit like a corollary to the way the politicians talk about budget cuts: The program can only grow by 5% this year instead of 7%, representing a 2% budget "cut"... 

NOT.
Bottom line, the real story is that things are not declining for the broadcast networks quite as fast as expected... 

Except for ABC and NBC

;-)

Regards
Craig


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