NBC and CBS, the two leading networks, recorded the biggest increases in the cost of airtime, while Fox and ABC had smaller increases in the region of 4%.
Reports say that the networks managed to sell as much as 85% of airtime upfront, compared with a figure between 70% and 80% for the same period last year. The remaining airtime will be sold on what is called the scatter market.
The biggest buyers have been movie studios, car makers, retailers and the fast food chains. The movie industry has given the ad industry one bright point over the downturn, as it spends more promoting blockbusters such as 'Star Wars: Episode II: Attack of the Clones' and 'The Lord of the Rings'.
The upfront season is seen as an indicator of advertiser confidence in the US. Sales have fallen dramatically after the massive advertising budgets of dotcom companies evaporated almost overnight at the beginning of 2001.
ABC and Fox have been particularly hard hit, as ratings at both networks fell. Fox has responded by axing two former hits, 'The X-Files' and 'Ally McBeal', while ABC has been examining its schedules after overestimating the popularity of 'Who Wants to be a Millionaire?'.
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