Joining a growing list of content-focused companies bracing for a downturn due to the roiling US and global economies, NBCU plans to trim $500mln from next year’s budget, according to several weekend reports. "We are living in a time of unprecedented economic challenges," wrote NBCU CEO Jeff Zucker in a widely cited company memo. "It has become evident that the decline in consumer confidence and spending will impact our operations." NBCU recently delivered stellar 3Q results powered largely by cable properties such as USA and Bravo, although GE CFO Keith Sherin did express concern about declining ad revenue for NBC. The disappointing ad story is also playing out elsewhere, even infiltrating cable. CBS recently slashed its operating profit forecast in the face of falling ad rev, and Viacom lowered its 3Q outlook, citing a decrease of approx 3% in domestic ad rev while intl ad rev grew approx 8%. Even News Corp chmn/CEO Rupert Murdoch recently lamented a weakened ad market amid the economic turmoil.

The Daily

Subscribe

Programming

Showtime is letting everyone sample the “Billions” Season 6 premiere, making the episode available for free on Showtime.com

Read the Full Issue
The Skinny is delivered on Tuesday and focuses on the cable profession. You'll stay in the know on the headlines, topics and special issues you value most. Sign Up

Calendar

Jan 28
Cablefax 100 – 2022 Nominations Due: January 28, 2022
Mar 11
The FAXIES 2022Entry Deadline: March 11
Apr 1
Cablefax Top Ops – 2022Nominations Due: April 1, 2022
Jun 3
The Diversity List – 2022Nomination Deadline: June 3
Aug 12
Most Powerful Women – 2022Nominations Due: August 12
Full Calendar

Jobs

Seeking an INDUSTRY JOB?
VIEW JOBS

Hiring? In conjunction with our sister brand, Cynopsis, we are offering hiring managers a deep pool of media-savvy, skilled candidates at a range of experience levels and sectors, The result will be an even more robust industry job board, to help both employers and job seekers.

Contact John@cynopsis.com for more information.