Exclusive outtakes from industry leaders
Are people going to watch more TV because they've no money to go out? According to media buying and planning agency MPG -- a subsidiary of Havas, the world's sixth-largest ad firm -- the answer is no, unless the TV networks come up with better shows.
"That's inventory for us, that's our supply," MPG Chief Operating Officer Steve Lanzano told the Reuters Media Summit in New York. "The thing is, there are no hit shows out there on the big networks," he added. "And if there's no supply in the marketplace, that just makes it harder and harder for us."
With the economy seizing up and people seeking more stay-at-home entertainment, this could be the perfect time for the big networks to hook people on to some new shows and boost ratings. That would bring in advertising revenue at a time when many advertisers are scaling back spending.
But the networks don't seem quite up for it yet, Lanzano said. ""They need hits and nobody has them right now."