Time Inc. CEO sees growth despite the strongest broadcast upfront deals in years

MUMBAI: AOL Time Warner's publishing empire Time Inc.'s CEO Ann Moore has predicted a five per cent growth in advertising revenues in 2003.

Meanwhile, an adage report says that the strongest broadcast prime-time upfront in years concluded with a 15 per cent increase to a wildly strong $9.31 billion has been a cause of worry to other media including print publications.

Moore told Reuters that she was looking to slash another $35 million of costs to reach her $100 million goal, but was not planning to close titles to achieve that and wanted instead to launch two new titles at the start of 2004.

Time Inc., whose best selling magazines include Time, People and Entertainment Weekly, booked strong advertising in the first quarter but a flat second quarter, and the publisher is holding out for a five percent rebound in the second half, Moore was quoted as saying in a Reuters report.

"Fortunately, the war only really hit us for three weeks, we had three weeks of really weak bookings, and the last two weeks of bookings have really sprung back," she said in an interview at the World Magazine Congress in the French capital.

Moore took the reins of Time Inc., the world's biggest magazine publisher, last year after successfully transforming its most profitable title, People, into a powerhouse brand.

Having posted 11 years of earnings growth, Time Inc. is seen as key to AOL Time Warner's success, especially with some of the indebted media giant's other divisions performing badly, adds the Reuters report.

After an absence of significant new launches, The Time Inc. chief was also quoted as saying that the publisher was testing a number of titles and hoped to go with two early next year. Among her favoured niches, she highlighted women's lifestyle, "lads", music and humour.

It is difficult to predict whether the new launches will set the market on fire - especially in this age of the Internet and mushrooming of TV channels.

Meanwhile, the adage report says that broadcasters have got a good response. There are reports that CBS, Fox, Walt Disney Co.'s ABC and General Electric Co.'s NBC sold more than 80 per cent of their inventory. Some major cable networks such as Vivendi Universal's USA Cable are 70 per cent sold.

But others are holding back in the hopes of filling the scatter shortfall anticipated at the broadcast networks. AOL Time Warner's TNT and TBS are about 40 per cent sold. Discovery Networks has inked about 50 per cent of its upfront deals. Hearst Corp. and Walt Disney Co.'s Lifetime has 44 per cent of its inventory sold.

Projections are that cable networks will ink deals with CPM increases of eight per cent to 11 per cent, depending on the network. Last year, cable garnered $4.4. million in upfront spending.

An adage report says that senior magazine executives were puzzled by marketers flocking to TV. TV audiences continue to decrease and marketers seem to disregard that, some of them said under conditions of anonymity.

Latest Reads
Star Bharat leads Hindi GEC (U+R) in week 2 of BARC ratings

MUMBAI: Star Bharat emerged as the leader in the Hindi GEC (U+R) genre dethroning Zee Anmol according to Broadcast Audience Research Council (BARC) all India data for week 2 of 2018.

Television TV Channels Viewership
BARC week 2: Aaj Tak leads Hindi News in all three markets

MUMBAI: Republic TV continues its leading streak in the second week of the year as well in BARC All India ratings. News Nation stays in the top five chart in week 2 of 2018 in Hindi News Rural market. Aaj Tak tops the chart again in Hindi News Urban market.

Television TV Channels Viewership
Dsport acquires India rights of tri-nation tournament in SL

Discovery’s sports channel Dsport has acquired the exclusive India broadcast rights of Nidahas Trophy 2018, a tri-nation international T20 tournament involving India, Sri Lanka and Bangladesh. The transaction was facilitated by Lagardère Sports, the global marketing consultant of Sri Lanka Cricket...

Television TV Channels Sports
Pittie Group launches news portal

Pittie Group has launched LatestLY its new portal for trending stories across categories like world news, politics, sports, entertainment, lifestyle,technology, automobile etc. It is being developed as the go-to platform for anybody wanting a complete understanding of trending stories.

Television TV Channels News Broadcasting
Catch Rekha's stellar performance in 'Biwi Ho Toh Aisi' on Sony MAX2

MUMBAI: Rekha’s fans are in for a sweet surprise this week as India’s iconic Hindi movie channel from Sony Pictures Networks, Sony MAX2 is all set to air classic movie Biwi Ho Toh Aisi. A light-hearted family drama stars Bollywood legends Farooq Sheikh and Rekha in lead roles and marks the debut...

Television TV Channels GECs
The seasonal show saga on Indian GECs

MUMBAI: Daily soap operas, with an infinite number of episodes, is the unique feature of India’s TV entertainment offering. From the era of a single national broadcaster to today where you can pick from a plethora of general entertainment channels (GECs), times have surely changed. What is slowly...

Television TV Channels GECs
Star ushers in IPL's new era with a bang

Star India is all set to reinvent the Vivo Indian Premier League (IPL) 2018 by increasing fan-engagement levels and bringing the sporting spectacle even closer to cricket fans across the country. The broadcaster’s press conference in Delhi today started with Sophia, a robot, in conversation with...

Television TV Channels Sports
Zeel numbers up on higher ad revenue in third quarter

The Subhash Chandra led Indian television network Zee Entertainment Enterprises Limited reported 11.5 percent and 28.3 percent increase in consolidated total revenue and profit after tax (PAT) respectively for the quarter ended 31 December 2017 (Q3-18, quarter under review) as compared to the...

Television TV Channels GECs
Ramdev wants telecast fees waived off for devotional channels

Baba Ramdev today took a shot at the government for imposing high tax on telecasting devotional TV channels.

Television TV Channels People

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories