CNBC, the financial news network, is done with daytime Nielsen ratings.
"They are no longer guaranteeing the business day, which is the most
important daypart for a financial client," a source told Adweek. "They
believe that their primary business day viewing is done in offices and
therefore not monitored by Nielsen and underrepresented."
And to some extent, that's probably the case. The smaller a network's
audience, the less accurate its Nielsen ratings are going to be, and the
ratings for CNBC have gotten ever-smaller in the last few years, as have ratings at its competitors. The network will continue to guarantee in prime time.
But, of course, CNBC is also one of the few networks for which daytime
ratings aren't a particularly accurate measure of relevant reach.
Monitors throughout the Goldman Sachs building play the network to their
wealthy executives. The network's show Squawk on the Street broadcasts
from inside the New York Stock Exchange. If you work in the financial
world—a small world, but one with nearly unlimited spending money—CNBC
is ubiquitous in gyms, hotels and elsewhere among areas frequented by
bankers and traders.
This has always been the network's contention when low ratings rear
their heads—what does it matter if a representative sampling of
40-year-olds across the country have decided to marathon Breaking Bad
this month? The network's core viewership is and will continue to be
Wall Street, and those are the people on the market for, say, a Lexus or
a trip to Bali.
So now, it seems that CNBC has decided to put its money where its mouth
is and withdraw guarantees for the daytime, which is a crucial daypart
for most people anxious to reach the network's demographics. A source
said the network has told advertisers that only half its clients asked
for guarantees, anyway. That probably worked out very well for that half
because if you're getting your deliveries regardless of ratings and
your price is pegged to ratings guarantees, you may have gotten
make-goods this last year even though you were reaching your audience.
Instead, said a source close to the network, the company is offering
guarantees based on its own internal measurement of ad deliveries. It's
not an ideal situation, certainly—third-party measurement is a large
part of what makes TV advertising so valuable—but parent company
NBCUniversal has been revising its advertising sales apparatus radically
in recent months.
Part of that strategy seems to be finding more efficient measurement
wherever possible and also leveraging its advantages in a serious way. Variety reported last
week that the network will not only raise Super Bowl spot prices to an
unprecedented $4.5 million for new advertisers, but it will also require
an additional $4.5 million in commitments elsewhere in the portfolio to
secure the privilege of buying a Super Bowl spot in the first place.
Now, it looks like another component is unilaterally abandoning
inefficient measurement when there are no good numbers to be had.
Asked whether the company was abandoning Nielsens for daytime, the
network offered the following from Seth Winter, evp, news and sports ad
sales group: "While we completely agree that CNBC's core audience
remains virtually unmeasured by current traditional metrics, our
agreements with our clients are confidential," Winter wrote. "As we
continue to explore the best measurement opportunities, our
conversations with clients include new metrics that accurately
demonstrate the power of the CNBC audience."
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