News Corp COO Chase Carey told Bloomberg TV Wednesday that the TV advertising market is picking up.
Carey made the remarks during the Milken Institute Global Conference in Los Angeles, during an interview with Bloomberg Special Correspondent (and Huffington Post Senior Editor) Willow Bay.
"Certainly right now the advertising market is very strong," Carey said. "Where there is scatter we're up double digits, if you look a year ago we're up even more, obviously that is compared to a relatively weak time, but it is a very healthy market. It certainly leads to strong expectations for the upfront. And I certainly think it's more than momentum in the market. You know, I think you've got a lot of sectors where you have a lot of competition whether it's telecoms or electronics retail that bode well for this market place. I still think you also have that dynamic in the other way of, you know, people believing that the economy is not out of the woods, so we'll have to see and if we can't get the right price, as we did last year, I think we're comfortable going in to the scatter market."
Carey also emphasized the importance of traditional TV advertising, despite the advances in other mediums.
"TV, if anything, has proven once again the unique value of television advertising," he said, saying that News Corp expects the upcoming upfront season to be strong. "Everybody keeps wanting to find new mediums, new places and put it online with more targeting capabilities but TV has stand the test of time. If you want to get your brand out there and your product, you know, really noticed and valued customers, TV advertising is second to none."
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