CBS (NYSE: CBS) chief Leslie Moonves says advertisers are now paying 25 percent more for TV commercial time than they did earlier in the year, according to Associated Press.
That's an indication that businesses are having the confidence to spend more on marketing.
Each year, before the start of the fall television season, advertisers buy commercial time during a period called "upfronts." Later, after the season has begun, advertisers buy additional time during the so-called "scatter market" closer to airtime.
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Many broadcasters withheld spots for sale during the upfronts this year, gambling that prices would improve closer to airtime.
The bet paid off. Moonves says scatter pricing is up 25 percent over the upfronts.
The CBS Corp. CEO spoke Tuesday at the UBS media conference.
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