BOTTOM LINE: New Nielsen data related to viewing of content on TV sets through the end of the 2015 including seven days of time-shifting-related playback shows generally improving trends, with decelerating declines in general for traditional TV-related viewing. At the same time, this has occurred with significant growth in consumption of content which was either not associated with traditional TV networks nor allocated to them for ratings credit. While these viewing trends have long-term implications for how content and advertising is produced, distributed and measured, over near- to medium- time horizons they should have limited effects on the amount of money spent on TV-related advertising. In that regard we note that a generally improving market – probably growing around +2% for national TV during 4Q15 – should continue as 2016 progresses.
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