Turner Entertainment completed its upfront business late last week with Starcom to the tune of about $150 million, making that the second big upfront deal for cable (MTV Networks signed a deal for reportedly about $300 million with OMD) - while upfront activity with the broadcast nets remains sluggish, according to Mediaweek (via MediaBuyerPlanner).
Cable hasn't seen much activity either, beyond the Turner/Starcom and MTV Networks/OMD deals, which represent less than 7 percent of cable's expected upfront take. But the early signing of the MTV deal may indicate that MTV Networks may be the big winner this year. According to Merrill Lynch analyst Jessica Reif Cohen, "Signing a relatively early deal is a positive indication that Viacom's digital platform could help the company outperform its competitors and the general marketplace." MTVN's digital offerings made up about 10 percent of the deal.
The sluggish nature of the upfront is also affecting digital ad sales. Alan Schanzer, managing partner of Mediaedge:cia's MEC Interaction, said that TV buyers are bringing the agency in to evaluate digital inventory, but that most digital deals will not be done until broadcast deals are finalized.
