For those who haven’t got it yet, large media organizations are watching their revenues melt in the harsh sun of the economic slowdown (I’m not even calling it a recession, for fear that Dan Gardner will write nasty things about me).
In this we’ve-seen-better economy, CTV is having trouble selling their Superbowl ads. Rick Brace is saying sales are “behind where we were last year”. Uh… the Superbowl is this Sunday. Whatever ad time remains is up for a fire sale right now.
CTV is the same network that has to sell bucket-loads of ad time for next year’s Vancouver Olympics. How much advertizing money is that? CTV paid $ 153 million (US) just for the rights and there are significant production costs involved, so they certainly need to sell close to $ 200 million in ads just to break even. They’ll have to do that in the thick of a not-great-but-let’s-not-get-all-panicky economy. How long until they announce the “buy-one-spot-get-two-more-for-free Olympic Games sale”?
As our prime Minister said during the last election, there are bargains out there for those who have money to invest. If you still have an advertizing budget.