Eye sets its sights on $1 bil at upfront
Web has held firm on pricing
Sources said the Eye net was expected to bill nearly $1 billion in business by the end of the day. Last year, CBS took in $1.6 billion during the upfront.
While the other Big Four webs had sold the majority of their primetime inventory by late Friday -- both NBC and ABC slashed prices significantly -- CBS has held firm on its pricing.
The Eye net has been aggressive about seeking out CPM (cost per thousand units) increases of 7%-9%, despite the fact that it's facing one of the worst ad markets in a decade. Some buyers threatened to take their business elsewhere unless they could get some discounts.
Still, most industry insiders agreed CBS is the only major web with a shot at increasing its ad revenue from last year. Fueled by "Survivor" and "C.S.I.: Crime Scene Investigation," the web, which saw its adults 18-49 ratings in primetime jump by 8% last season, could rake in as much as $1.7 billion.
A CBS spokesman had no comment on the net's ad rates or revenue intake, except to say, "As we continue to sell, we're more concerned about pricing than volume."
Viacom prexy Mel Karmazin has been vocal about the fact that if the net didn't get the prices it wanted during the upfront, it would simply hold back more inventory for scatter. Some industry insiders had questioned CBS' decision to hold back inventory, saying that if the economy didn't improve, the net would fare worse during the scatter market.
The net has already sold a number of sponsorship packages for "Survivor" and participated in a broad $300 million ad deal that Viacom struck with Procter & Gamble.
