CBS HOLDS OLYMPIC 'FIRE SALE'
CBS HOLDS OLYMPIC 'FIRE SALE' NEW YORK, Feb. 3 /PRNewswire/ -- CBS is holding what looks like a
fire sale to unload its slow-selling Olympic advertising slots, according to a report in the Feb. 3 issue of Advertising Age.
The traditional premium advertisers put on Olympic ad time is evaporating due to steep discounting on CBS' coverage of the 1992 Winter Games. Prime-time spots that had originally sold for $250,000 each have been selling for $150,000-$175,000 in recent weeks, as CBS pulled out all stops to sell the remainder of its Olympics inventory. The network's coverage of the Games starts Feb. 8. Buyers estimate the prime-time cost per thousand for Olympic buys has fallen about 47 percent to $8. That's about what conventional prime-time network programming during the period would cost. "told Advertising Age. Those good deals have brought in a flurry of last-minute buys by a variety of advertisers including: American Home Products Corp., American Isuzu Motors, BMW of North America, Kraft General Foods, McDonald's Corp., Mercedes-Benz of North America, Reebok International, Texaco, Toyota Motors Sales USA's Toyota and Lexus divisions, USAir and Warner- Lambert Co. Most of the latecomers bought smaller amounts of Olympics time that were packaged together with other CBS inventory, including sports and prime time. A host of big upfront Olympic advertisers paid heavy premiums to be in the Games, including Anheuser-Busch Cos., Chrysler Corp., Coca-Cola Co. and Eastman Kodak Co. To bring those upfront clients in line with the rest of the marketplace, CBS upgraded the deals several times with bonus units and guarantees, and is expected to offer additional upgrades by the time the Games begin. Although CBS has no obligation to improve the packages of upfront advertisers, buyers say the network is taking these steps because many of them have either bought time in or have options to buy time in the network's coverage of the 1994 Winter Olympics. -0- 2/3/92 /CONTACT: Meryl Suben of Advertising Age, 212-210-0716, for CBS/ CO: CBS ST: New York IN: ADV ENT SU:
GK-OS -- NY031 -- 6089 02/03/92 10:47 EST
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|Date:||Feb 3, 1992|
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