CBS, the NCAA Basketball Tournament, and Online Advertising
If The Wall Street Journal starts running "Peanuts," it wouldn't shock me. After all, the paper has added a sports section, which is a pretty interesting read.
Today's paper discusses the 11-year, $6 billion deal that CBS made with the NCAA to air the men's basketball tournament, noting that CBS was smart enough to get the rights to air content on new media platforms such as mobile phones and the Internet (in addition to distribution deals wtih DirecTV and CBS College Sports, a cable network run by the company.
The buzz for those of us stuck at the office next Thursday and Friday will of course be CBS' March Madness on Demand, where video from every game will be streamed. CBS says that it expects advertisising revenues for its online video to grow to $30 million, up from $23 million last year. To put this in perspective, advertisers spent $643.2 million on the men's tournament on CBS in 2008, up 23.8% from $519.6 million in 2007.
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