Viacom boss Mel Karmazin is sticking to his forecasts of a strong US upfront ad buying season.
Speaking at the unveiling of Viacom’s first-quarter results [WAMN: 23-Apr-03], president/chief operating officer Karmazin stood by his earlier prediction that the media giant would see prices during the selling season rise by 15% to 20% on last year. This belief, he continued, had been strengthened by his recent talks with ad agency bosses.
Karmazin added that recent hesitancy to buy advertising could be explained as media buying tactics: “Some of the agencies may be posturing for the upcoming upfront by indicating maybe business isn't as good.”
His message to media buyers is simple: “You'd better buy often and fast and you'd better get your order in now.”
Data sourced from: AdAge.com; additional content by WARC staff