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CNN Live At Daybreak
Big League Prices: Playoffs Ad Prices on Fox Hit $325,000
Aired October 10, 2003 - 06:47 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL LIN, CNN ANCHOR: And time now for a little 'Business Buzz.' Some classic rivalries in the Major League Baseball playoffs are hitting advertising prices out of the ballpark.
Carrie Lee from the Nasdaq market site in New York.
How much money can they get?
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: They can get a lot, Carol, almost $20 million per game. Let me explain this. According to the "Boston Herald," some very exciting matchoffs in the playoffs this year are helping Fox hit a homerun with advertisers. Now the New York Yankees and the Boston Red Sox, of course, have one of the biggest rivalries in sports history. Also, the Chicago Cubs, well known as the loveable losers, are facing the Florida Marlins.
Now the average price per national 30-second ad during the playoff series on Fox is $325,000. That's up from $300,000 last year. And this translates into gains of almost $20 million per game for Fox. Very big bucks, of course, for advertisers. It's also a good situation because it's the best way to reach fans, consumers, especially men, during the month of October.
Now looking ahead, the World Series ads are already nearly sold out. If the Red Sox and the Chicago Cubs make it to the big game, well it would be considered by some to be an historic showdown and likely to cause ad prices to spike much higher. So a big playoff series and very big business for advertisers.
Let's take a quick look at stocks. Looks like early indications are pointing to a pretty flat open right now. We could see a little bit of a higher open, but really not too much action expected right now. The Dow, the Nasdaq, the S&P 500 all saw fractional gains at the close yesterday, well off of the intraday highs, but still, in positive territory, nonetheless.
One stock actually losing a little bit of ground in the premarket is General Electric, the world's largest company. They met the profit expectation for the third quarter of the year; however, they are warning a little bit for this current three-month period, Carol, so we'll be keeping an eye on that stock as well as the market overall today.
Back to you.
LIN: Going to be a busy day. Thanks, Carrie.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired October 10, 2003 - 06:47 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL LIN, CNN ANCHOR: And time now for a little 'Business Buzz.' Some classic rivalries in the Major League Baseball playoffs are hitting advertising prices out of the ballpark.
Carrie Lee from the Nasdaq market site in New York.
How much money can they get?
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: They can get a lot, Carol, almost $20 million per game. Let me explain this. According to the "Boston Herald," some very exciting matchoffs in the playoffs this year are helping Fox hit a homerun with advertisers. Now the New York Yankees and the Boston Red Sox, of course, have one of the biggest rivalries in sports history. Also, the Chicago Cubs, well known as the loveable losers, are facing the Florida Marlins.
Now the average price per national 30-second ad during the playoff series on Fox is $325,000. That's up from $300,000 last year. And this translates into gains of almost $20 million per game for Fox. Very big bucks, of course, for advertisers. It's also a good situation because it's the best way to reach fans, consumers, especially men, during the month of October.
Now looking ahead, the World Series ads are already nearly sold out. If the Red Sox and the Chicago Cubs make it to the big game, well it would be considered by some to be an historic showdown and likely to cause ad prices to spike much higher. So a big playoff series and very big business for advertisers.
Let's take a quick look at stocks. Looks like early indications are pointing to a pretty flat open right now. We could see a little bit of a higher open, but really not too much action expected right now. The Dow, the Nasdaq, the S&P 500 all saw fractional gains at the close yesterday, well off of the intraday highs, but still, in positive territory, nonetheless.
One stock actually losing a little bit of ground in the premarket is General Electric, the world's largest company. They met the profit expectation for the third quarter of the year; however, they are warning a little bit for this current three-month period, Carol, so we'll be keeping an eye on that stock as well as the market overall today.
Back to you.
LIN: Going to be a busy day. Thanks, Carrie.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
