Have you noticed that the big TV networks are touting their upfront sales? For example, Adweek reported that Fox had pulled in solid price increases, though its sales volume was flat versus last year. ABC even put out a press release–a rarity–talking up its high single digit increases in pricing and revenue for this year's upfront, i.e. the annual bonanza during which TV giants sell the majority of their ad space for the coming season.
You might ask – isn't live TV viewing falling off a cliff? Isn't everyone streaming Netflix or cutting the cord? What gives?
Even Viacom, the company behind MTV, which is starving for hits and relevance as its young audiences can't stop looking at their phones, says it sold more ads and got better prices than last year, reported Adweek.
After all, going into this upfront season, the market was supposed to be soft, reported Deadline. So what happened?
To be sure, all this should be taken with a grain of salt. When TV networks say 'We had a great year,' it's hard to know if they're embellishing the truth. But given that most are part of public companies, upcoming earnings reports will be revealing.