Printer Friendly

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
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 3, 1992
Words:351
Previous Article:HORNE'S LONG-RANGE FUTURE ASSURED BY DEBT RESTRUCTURING AGREEMENT
Next Article:FIRST UNION REPORTS TRUST INVESTMENT PERFORMANCE
Topics:


Related Articles
COCA-COLA USA, CBS ANNOUNCE 'MEDALS AND MILLIONS'; JOINT PROMOTION OFFERS 16 $1 MILLION PRIZES DURING CBS'S COVERAGE OF 1992 OLYMPIC WINTER GAMES
CBS HOLDS OLYMPIC 'FIRE SALE'
AMERICAN DESIGNER JOSEPH ABBOUD CHOSEN AS STYLEMAKER FOR CBS OLYMPIC SPORTSCASTERS
CBS ANNOUNCES FIRST QUARTER 1992 RESULTS
NORDSTROM AND CBS TEAM UP AT 1994 OLYMPIC WINTER GAMES
CBS ANNOUNCES RECORD-SETTING 1993 EARNINGS
CBS ANNOUNCES FIRST-QUARTER 1995 EARNINGS
'GREATEST MOMENTS OF THE OLYMPIAD WITH BUD GREENSPAN' LAUNCHED IN FIRST- RUN BROADCAST TELEVISION
'GREATEST MOMENTS OF THE OLYMPIAD WITH BUD GREENSPAN' CLEARED IN 107 MARKETS REPRESENTING OVER 80 PERCENT OF THE COUNTRY
Joann Ross Named President of Network Sales, CBS; Will Oversee All Sales Operations for CBS and UPN programming.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters