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Viacom said it is seeing a continued strengthening of the U.S. advertising market.
While the economic recovery is coming only in fits and starts, “the overall advertising market continues to strengthen,” president and CEO Philippe Dauman told analysts in a conference call. Touting “growing momentum,” he predicted a sequential improvement in U.S. ad growth in the current third quarter.
Chairman Sumner Redstone summarized the current state of the economy and ad market: “Of course, we are not all the way back, but the horizon is brighter.”
Dauman also said Viacom plans to pursue an appeal in the YouTube litigation, saying a recent court ruling in YouTube’s favor was “inconsistent with rulings of other courts.”
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