Advertising Age surveyed a number of media buyers about CNN’s upcoming 9 PM program “Piers Morgan Tonight,” and the results are not particularly surprising for CNN.
Morgan’s program is getting the same ad rates that its predecessor, “Larry King Live” drew.
Ad Age explains:
Such comments usually indicate advertisers are taking a “wait-and-see” approach to a new property; they’ll put money down in support of it, but don’t see any reason to pay higher prices until the show proves itself. Some new TV shows secure higher-than-usual rates during their premiere weeks, particularly because of the amount of promotion put behind the property by the network.
The trade magazine also notes that while CNN’s ratings have not been as strong as they have been in the past, the network is still able to draw a higher CPM than its cable news competitors. Of course, it won’t be able to fully capitalize on that advantage unless it lures viewers to its programs.
For news networks, it is often the time period that matters most for ad sales. So it is not surprising that Morgan would be about the same as King. after all, both shared the same 9 PM timeslot. Networks will also sell blocks for whole time periods, like primetime or the afternoon.