Cable Upfront Scores $9 Billion, Beats Broadcasters

The recently completed cable upfront marked a 16% increase over last year and set an all-time record with $9.29 billion in spending commitments for the 2011-12 season, according to the trade group that promotes cable advertising.

The total volume topped $9 billion for the first time and after "parity" a year ago, surpassed what the broadcasters took in collectively, according to the Cabletelevision Advertising Bureau (CAB). Last summer, dollars were up 19%, more than making up for the steep dive during 2009's Great Recession Upfront, when volume dropped 13% (by $875 million). TV in general continues to be a strong medium as the economy sputters. A recent survey of agency executives by Strata, a media-buying processing firm, pegged TV as making up 41% of ad budgets. The survey did conclude the medium is losing share to digital, which is now at 24%.