“Network and local TV stations ad revenue is weakening,” says NBC Universal Chairman Bob Wright. “The syndication marketplace is flat. DVR penetration is growing, leading to contentious debates about audience measurement and metrics for advertisers,” a reference to the balking by numerous network at Nielsens new commercial ratings system.
That gloomy picture of the TV business was painted Wednesday for the Los Angeles World Affairs Council, and comes just a week after his company announced a restructuing and job cuts do deal with a dramatically changing marketplace.
But in his speech to the group, Wright was not all gloom and doom. He said there were also “huge opportunities for growth,” particularly internationally and in the digital space, the latter which is what drove NBC to its announced shift in priorities last week.