NEW YORK: As Monday's working day juddered toward its close, both sides of the US cable TV upfront switched off their laptops and thence to their favored Manhattan watering holes for a celebratory dry Martini. Or three.
The toast on both sides of the fence was the conclusion of a successful cable upfront, with up to 90% of all deals done and dusted and a dollar outlay predicted to hit $6.9 billion (€5.0bn; £3.39bn), an increase of at least 6% on the 2006 event.
Syndication, too, has entered the final straight with participants forecasting done-deals totalling $2.06bn, up 3% on last year.
Turner Entertainment's sales head David Levy attributed the strength of this year's upfront market to demand overtaking supply.
"There was a currency change, scatter dollars moved into the upfront marketplace, there's a political campaign and the Olympics next year. Budgets were up. All that played as a factor."
Data sourced from AdAge.com; additional content by WARC staff