With advertising trends front and center for Wall Street and industry players in the current crop of media earnings , Comcast's NBC Universal was one of the first to weigh in.
NBCU CEO Jeff Shell said the market steadily worsened over the course of last year but "it kind of feels like it bottomed out around late November, early December, and really since then it hasn't gotten worse, and maybe even a little better."
He said he'd describe it as a "shallow" market with areas "that are better, actually really doing well, like pharma, entertainment, travel is on fire" and other that "feel uncertain" like weak tech, auto and financial services.
Speaking on a post-earnings conference call, he said it feels like the weakness is due more to macroeconomic uncertainty than to businesses not doing well. "None of us know where the economy is headed, so advertisers are holding back, and when they do advertise, they are coming in later than usual.
He predicted the market "is going to stay weak for the first half of this year, then recover. But, who really knows?"
He believes NBCU will hold up aa bit better than peers as Peacock 's growth helps offset weakness in linear TV, and the company has made major investments in data and measurement.
In earnings reported this morning, Comcast said NBCU's media advertising revenue rose 4% due to the FIFA World Cup airing on Telemundo and an increase in Peacock advertising.
- ETMarkets Management Talk | Recessionary headwinds will impact growth in market: Deepal Shah, Allcargo Logistics
- ETMarkets Fund Manager Talk: This Rs 3,000-cr money manager goes bottom-up to pick winners
- This year’s sour stock market made Wall Street bearish for first time since 1999
- Is Nasdaq near its bottom? Check key indicators
- ETMarkets Smart Talk: [email protected]! Siddhartha Khemka decodes which sectors are worth investing in now
- Do not overpay just because markets at new high; be where the earnings are: Gurmeet Chadha
- Amazon’s Jeff Bezos to donate his $124 billion fortune
- Property market yet to bottom out, insiders say
- Housing Market Predictions For The Next 5 Years. What Return Can You Expect?
- Social Media Marketing That Leads To Conversions
- MFRS 17 does not change Syarikat Takaful Malaysia’s financial strength, CEO says
- Russian shelling has killed 32 in Kherson region since liberation - police
- Russian strikes take out 'third of power stations', says Zelensky
- 14 Agency Pros Share Their Favorite Holiday Marketing Campaigns
- Ukraine war: Crimea bridge blast arrests, deadly market attack, Putin says 'ball in EU court' on gas
- Nvidia Stock: Evidence Gaming Bottomed And Why It’s Important
- Households paying £94 extra on energy bills because Ofgem 'too slow to act', says watchdog
- Hyundai and These Other Brands Are Skipping Super Bowl Ads This Year
- Big Tech’s layoff wave is an outlier in still-robust job market
- Goldman Sachs Warns Of Hard Times For Stock Market
NBCU’s Jeff Shell Says Ad Market May Have “Bottomed Out” have 478 words, post on deadline.com at January 26, 2023. This is cached page on Movie News. If you want remove this page, please contact us.