by Wayne Friedman, Yesterday, 11:20 AM
E.W. Scripps says its television stations will see modest advertising increases in the first half of 2011.
Television ad revenues will increase in the low- to mid-single-digit range -- which comes on top of a very strong fourth-quarter period -- that other TV station groups have also seen.
With about two-thirds of the fourth quarter completed, Scripps said television ad revenue in the fourth quarter is expected to be 35% to 40% higher than in the fourth quarter of 2009 -- most of this fueled by high political advertising in October.
Long-term, Scripps says advertising conditions will return to pre-recessionary budgets.
"Several key advertising categories at our television stations are returning to 2008 levels," said Rich Boehne, president and chief executive officer, in a release. "Scripps is fortunate that our financial flexibility allows us to focus during this period on improving the news product for our audiences and enhancing the marketplaces we create for our advertisers."
Next year, levels will grow despite tougher comparisons of a advertising rebound in local television advertising that started in December 2009.
Scripps' newspaper business forecast will continue to see declines. A year-over-year drop for newspaper revenue, which was down 6.8% in the third quarter, will see another moderate fall in the fourth quarter.
Revenue trends will generally continue in 2011 in the negative, but at slightly better levels than recently witnessed. Boehne said: "The trends in newspaper advertising are slightly more encouraging."
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