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Scripps Networks Interactive on Thursday reported that cancellations of its second-quarter upfront buys are running “in the low teens,” a significant increase versus Q1 pullbacks, which came in at around 6 percent.
Speaking on the media company’s first-quarter earnings call, SNI president John Lansing said that while options were accelerating in Q2, the Scripps nets have been seeing “a fair number of those advertisers coming back into the scatter marketplace looking to negotiate on price.”
Lansing added that scatter pricing across the five networks––HGTV, Food Network, DIY, Fine Living and GAC––is down 10 percent versus the year-ago period, although he added that pricing is being looked at in relation to last year’s inflated scatter market.
“We’re trying our best to maintain our pricing at or above our broadcast upfront pricing,” Lansing said, adding that Food Network scatter pricing is up 11 percent over its upfront levels.
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