Don't expect TV sellers to exceed last year's $9.1B; Credit crisis and focus on accountability likely downers for upfront.(The Upfront)

Advertising Age, May, 2008 by Steinberg, Brian

Byline: BRIAN STEINBERG

The upfront will not be up this year. At least, that's the conclusion two Wall Street analysts have reached.

Pointing to marketers worried about a sputtering economy, a credit crisis and a looming recession, analysts expect advertisers to hold tight to their purse strings and cut back on ad spending on TV, moving money instead to cheaper and more-accountable media venues.

Jessica Reif Cohen, an analyst with Merrill Lynch, went so far as to detail a best-case and worst-case scenario for the networks, but both predict the final tally will be below last year's. In her best case, the broadcast networks would take in $8.79 billion in prime-time ad commitments, down from last year. Including daytime, late night and news, the...

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