CBS Takes Its Lumps Along With Online Advertising…

Tuesday, March, 31, 2009 by Mel Phillips.

If you own CBS stock avoid reading AP, Bloomberg, Reuters and the New York Post today.  All of the above news sources report that CBS stock fell 82 cents or 18 (%) percent to $3.79.  CBS stock has lost 54 (%) percent of its value this year.  CBS was not alone in taking a hit, it might be hard to believe but online ad sales growth has even slowed down from a gain of 26 (%) percent in 2007 to a gain of 11 (%) percent in 2008.  This, according to a report from the Interactive Advertising Bureau and PricewaterhouseCoopers.  So what’s going on??? 

Remember the lyrics, “I fell into a burning ring of fire, I went down, down, down and the flames went higher?”  That’s what’s happening, only we haven’t reached the bottom yet.  Last year online advertising reached $23.4 billion with the fourth-quarter total of $6.1 billion virtually unchanged from each of the four previous quarters.  The 2.6 (%) percent increase in Q4 compared to a year ago was the smallest since 2002.  The 51 (%) percent of total online ad dollars spent during the second half of 2008 was also the lowest percentage for the last six months of any year since 2002…

All of this news follows SNL Kagan’s updated Radio/TV Station Annual Outlook which shows radio and TV revenues continuing to fall in 2009.  That same report shows a glimmer of hope over the long term.  SNL Kagan forecasts a turnaround in 2010 with modest growth through 2013.  Keep the faith… 

10 Timeline Memories:

1. 1918] Time after time: For the first time in U.S. history, Daylight Savings Time goes into effect. Clocks are moved ahead one hour at 2 a.m…
2. 1923] They shoot horses, don’t they?: The first U.S. dance marathon is won by Alma Cummings who sets a new world record of 27 hours in New York City. Gig Young finishes second…
3. 1931] Luck of the Irish runs out: 43-year old Notre Dame coach Knute Rockne and seven others are killed in a plane crash in Kansas as the legendary coach was headed to Hollywood to make a football movie…
4. 1943] Another opening, another show: Rodgers & Hammerstein’s “Oklahoma” opens on Broadway. Although Howard Keel played the lead on Broadway, Gordon MacRae played that role on the big screen with Shirley Jones as his wife…
5. 1975] Going out a winner: John Wooden coaches his last game, a 92-85 UCLA win over Kentucky which gives the Bruins their 10th National Title under ‘The Wizard of Westwood’. The Wiz celebrated his 98th birthday in October…
6. 1976] Pulling the plug twice: The New Jersey Supreme Court rules that Karen Anne Quinlan could be disconnected from her respirator. Quinlan remains comatose until 1985 when she passes away…2005] Terri Schiavo dies at a hospice in Florida, 13 days after her feeding tube is removed in a right-to-die dispute that reached the courts, Congress and the White House…
7. 1985] On the level too: The first Wrestlemania, the biggest wrestling event from the WWE is performed in Madison Square Garden…
8. 1986] ‘Happy Trails’: O’Kelly Isley, who I had the pleasure of knowing, dies of a heart attack at 48…1998] Former New York Congresswoman Bella Abzug dies from heart disease at 77…
9. 1992] Premiered on this date: “Dateline NBC“…
10. 1995] Tejano tragedy: 33-year old Tejano singing idol Selena is shot to death by Yolanda Saldivar, president of Selena’s fan club. The shooting takes place outside a Corpus Christi motel room…

Music Memories:

• 1958] Released on this date: “Johnny B. Goode” - Chuck Berry…
• 1975] Number One on this date: “Lovin’ You” - Minnie Riperton. The song was produced by Stevie Wonder. I never met a lovelier person than Minnie who at one time sang backup for Stevie and led the group Rotary Connection. Minnie’s daughter Maya Rudolph is a SNL cast member…

“Happy Birthday…happy birthday“: Rhea Perlman (61), Al Gore (61), Gabe Kaplan (64), Christopher Walken (66), Barney Frank (69), Herb Alpert (74), Shirley Jones (75), Richard Chamberlain (75), Gordie Howe (81) and William Daniels (82)…

Timeline Countdown: 5 days until Opening Day, 6 days until the NCAA Championship Game, 8 days until Passover and 12 days until Easter Sunday…

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