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American Morning
Minding Your Business: Hey, Big Spenders
Aired October 20, 2003 - 08:52 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.
JACK CAFFERTY, CNN ANCHOR: Andy Serwer is "Minding Your Business." The folks up the street there at the F-word network are making a killing with these baseball playoffs and the World Series. I mean, they've hit the mother lode. But baseball pales in comparison to some other events on TV.
ANDY SERWER, "FORTUNE" MAGAZINE: Yes. And the big story here, Jack, is that ad sales for the TV networks have been in a terrible three-year slump. And right now, it looks like they're perking up. We're coming out of it. Starting really with the World Series, ads were sold out -- 90 percent of the ads were sold out in advance, again, because of the championship series doing so well. A lot of companies rolling out new ads like Kmart's thing with Martha Stewart and Budweiser's Mr. foot-long hot dog man. That's a good ad, Jack. You've got to see that.
But what's going to be happening...
CAFFERTY: It got my attention.
SERWER: All right, what's going to be happening going forward, you have two big events that happen every year, which, of course, are the Super Bowl and the Oscars. Here's how it stacks up. This is what you're talking about. A 30-second spot for the World Series, $325,000. But look at the Academy Awards, February this year, three weeks early, $1.5 million.
CAFFERTY: Wow!
SERWER: They're sold out. It's the first time since '97 they've been sold out this early. And in the Super Bowl, it's just amazing this almost $2.5 million for 30 seconds.
CAFFERTY: Unless Cincinnati makes it to the Super Bowl, in which case you can buy the spots for 50 grand.
SERWER: Yes, well, that's not going to happen until the Cubs and Red Sox play in the World Series. So, we can wait quite awhile for that.
We've got two big things also happening coming up next year as well that's supposed to help out the TV business, which is the Olympics and the elections. We should get some more pop out of that, too.
CAFFERTY: All right, and you've got word on some juice that tastes like pie. SERWER: Yes, you know, the search for new flavors, by the flavor-meisters (ph) of the world who work for the world's food companies, often goes haywire and over the top. And we have an example of that.
Snapple is coming out with an apple pie flavor. And, you know, they're saying that well, you know, you used to be able to have to put the pie in the oven. Now you can just pop the top of our soda and get the apple, including the crust flavor. And they're saying, only available from October to December.
CAFFERTY: Why? Oh, it's apple season.
SERWER: Yes, apple season. You know, I don't think I could take another month. So...
CAFFERTY: What about the stock market?
SERWER: The stock market...
CAFFERTY: It took a little hit last Friday.
SERWER: Well, a little hit Friday. Still the Dow was up. Nasdaq down for the week. You can see here, it's 47 points on the Dow.
This morning, futures are up a little bit. Good news from Citigroup, $4.7 billion of profits for the quarter, and 3M also doing well.
CAFFERTY: All right, thanks, Andy.
SERWER: You're welcome.
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 20, 2003 - 08:52 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
JACK CAFFERTY, CNN ANCHOR: Andy Serwer is "Minding Your Business." The folks up the street there at the F-word network are making a killing with these baseball playoffs and the World Series. I mean, they've hit the mother lode. But baseball pales in comparison to some other events on TV.
ANDY SERWER, "FORTUNE" MAGAZINE: Yes. And the big story here, Jack, is that ad sales for the TV networks have been in a terrible three-year slump. And right now, it looks like they're perking up. We're coming out of it. Starting really with the World Series, ads were sold out -- 90 percent of the ads were sold out in advance, again, because of the championship series doing so well. A lot of companies rolling out new ads like Kmart's thing with Martha Stewart and Budweiser's Mr. foot-long hot dog man. That's a good ad, Jack. You've got to see that.
But what's going to be happening...
CAFFERTY: It got my attention.
SERWER: All right, what's going to be happening going forward, you have two big events that happen every year, which, of course, are the Super Bowl and the Oscars. Here's how it stacks up. This is what you're talking about. A 30-second spot for the World Series, $325,000. But look at the Academy Awards, February this year, three weeks early, $1.5 million.
CAFFERTY: Wow!
SERWER: They're sold out. It's the first time since '97 they've been sold out this early. And in the Super Bowl, it's just amazing this almost $2.5 million for 30 seconds.
CAFFERTY: Unless Cincinnati makes it to the Super Bowl, in which case you can buy the spots for 50 grand.
SERWER: Yes, well, that's not going to happen until the Cubs and Red Sox play in the World Series. So, we can wait quite awhile for that.
We've got two big things also happening coming up next year as well that's supposed to help out the TV business, which is the Olympics and the elections. We should get some more pop out of that, too.
CAFFERTY: All right, and you've got word on some juice that tastes like pie. SERWER: Yes, you know, the search for new flavors, by the flavor-meisters (ph) of the world who work for the world's food companies, often goes haywire and over the top. And we have an example of that.
Snapple is coming out with an apple pie flavor. And, you know, they're saying that well, you know, you used to be able to have to put the pie in the oven. Now you can just pop the top of our soda and get the apple, including the crust flavor. And they're saying, only available from October to December.
CAFFERTY: Why? Oh, it's apple season.
SERWER: Yes, apple season. You know, I don't think I could take another month. So...
CAFFERTY: What about the stock market?
SERWER: The stock market...
CAFFERTY: It took a little hit last Friday.
SERWER: Well, a little hit Friday. Still the Dow was up. Nasdaq down for the week. You can see here, it's 47 points on the Dow.
This morning, futures are up a little bit. Good news from Citigroup, $4.7 billion of profits for the quarter, and 3M also doing well.
CAFFERTY: All right, thanks, Andy.
SERWER: You're welcome.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
