Cablevision COO: Economic Rebound Driving Advertising
By Nat Worden, Of DOW JONES NEWSWIRES
NEW YORK -(Dow Jones)- Tom Rutledge, chief operating officer with Cablevision
Systems Corp. (CVC) said Tuesday that the depressed U.S. advertising market is
showing signs of improvement as more traditional ad buyers return.
"There seems to be an economic rebound occurring that's manifesting itself
through advertising," said Rutledge on a conference call with analysts following
the company's third-quarter earnings release.
He noted that Cablevision posted a 6% sequential improvement in ad revenue for
the third quarter compared to the second quarter of this year - a trend that he
said is unusual.
Rutledge said Cablevision enjoyed strong political advertising in the quarter
and a pick-up in buying activity from financial services and automotive
advertisers. He also said Cablevision's interactive advertising efforts are
becoming a more significant part of the company's revenue mix.
Ad revenue at the company's cable television division rose by $2 million in
the quarter to $28 million on a year-over-year basis. Ad revenue at Rainbow, its
cable networks division, rose 18.2%.
Rutledge declined to give a forecast for fourth-quarter advertising, but he
said third-quarter activity provides a "glimmer of hope."
-By Nat Worden, Dow Jones Newswires; 212-416-2472; nat.worden@dowjones.com
(END) Dow Jones Newswires
11-03-091112ET
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