UPN calls next game leap Frog
Netlet still in the hunt at upfront market
|
Valentine went on a limb and made the claim "based on the strength of our schedule and the momentum we already enjoy."
"When we meet this time next year, UPN will not only have improved substantially from where we are today, but we will have beaten the WB on four out of five nights that we program in adults 18 to 34, 18 to 49 and total viewers," he told reporters at the TCA Tour in Pasadena.
Of course, that strategy revolves around the performance of two series inherited from the WB: "Buffy, the Vampire Slayer" and "Roswell."
"In an environment where a network's profit margins are so thin and we have to be so careful about our overhead, we're happy to have other networks pick up some of our development costs," said a tongue-in-cheek Valentine.
"Anytime somebody wants to develop a 'Buffy' or 'Roswell,' we're happy to take the show and let the credit go."
Valentine also said that despite UPN's late jump into the upfront sales race -- and media buyer assertions to the contrary -- the net will wind up with more ad dollars this season.
"We have realized increased upfront ad revenue," Valentine said. "The total dollars committed and percentage of upfront dollars given to UPN are at historic highs. We have narrowed the gap between our competitors and us, and we have attracted new advertisers."
UPN expects to sell the bulk of its upfront inventory by the end of this week. But whether the weblet will wind up lower, flat or higher than last season depends on the numbers you use.
UPN says it billed $160 million last year, although many ad buyers say that number hovered closer to between $135 million and $150 million. Most buyers believe the weblet should reach between $150 million and $160 million this year.
That means UPN might technically end up higher than last year -- depending on last year's final take.
Valentine, however, admitted that UPN's CPMs (cost per thousand) have remained flat to -3%. And it's still unclear how much UPN has billed up to now.
Valentine dismissed recent reports that suggested UPN had sold between only $50 million and $70 million of its inventory so far.
"I've actually seen estimates much higher than where we actually are," Valentine countered. "I don't think we usually comment on totals until it's over, which will be sometime around Friday."
While the rest of the broadcast webs have already finished their upfront sales, UPN -- hoping to avoid CPM decreases -- held out for better prices, to mixed results.
UPN ended up facing less demand, which means its upfront sales efforts remain ongoing. As a result, the netlet still has 10%-20% of its inventory on the table.
The weblet also expects to hold between 30%-32% of its inventory back for the scatter market.
According to UPN chief operating officer Adam Ware, who shared the press tour stage with Valentine, the net has attracted 25% more advertisers than last year. Newcomers to the web include the Gap and Maybelline.
"Could our upfront have been better? For sure," Ware said. "Do we think we are going to have really good inventory to sell in the scatter in shows like 'Buffy,' 'Roswell,' and 'Enterprise' and the rest of our lineup? Absolutely."
Valentine said "Buffy" will serve as a loss leader for UPN, but that its halo effect would help the weblet improve its financial health.
"Of course, we're still in the red, and we would always like our numbers to be better," he said.
Meanwhile, Valentine and Ware said they'll rely more heavily than ever on Viacom synergies to get the word out about UPN's fall slate, including the "Buffy" and "Roswell" jumps.
For example, CBS' "Eye on American" in-flight entertainment program will include promo spots for the new UPN "Star Trek" series "Enterprise."
Prexy must wait
UPN's executive press tour session was also noticeable in what it lacked: The presence of an entertainment president. Valentine said he has narrowed the list of candidates to replace Tom Nunan, who departed last month, but that a final decision may still be a month away.
"We're talking to a whole bunch of people," Valentine said. "Hopefully we'll find the right marriage for UPN. I think executive comings and goings is not a new thing to Hollywood last time I checked."
Also in Pasadena, "Buffy the Vampire Slayer" star Sarah Michelle Gellar defied expectations and made an appearance during the UPN tour. The net has been wooing Gellar since word leaked out that the thesp was less than pleased with moving from the WB to her new home.
Gellar told reporters she still loved "Buffy," while series creator Joss Whedon added that he believed there was still a lot of life left in the show.
"I have another 100 stories to tell and the people I want to do it with," he said.
