As the broadcast network upfront season is now well under-way by virtue of the cable network presentations which have been made in recent weeks, investor minds (and much of the advertising community) will increasingly focus on the outcomes of negotiations between buyers and sellers. We have written in the past about our "behavioral" model for forecasting pricing, which eschews explicitly "classical" notions that changes in supply and demand can predict a benchmark CPM increase. Instead, our approach relies primarily on anticipated changes in demand, reflecting that network TV remains a seller's market.
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