US

CBS's March Madness Online Ad Revenues Up 30%

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There’s no recession in March Madness, reports the WSJ:

A week before tipoff, CBS says it has nearly sold out its online ad inventory to 35 marketers including AT&T and Coca-Cola and expects online ad revenue to reach about $30 million this year, up 30% from $23 million in 2008.

Keep in mind that $30 million is still a small fraction of the $650 million plus CBS is expected to draw from March Madness in total.

Still, it’s gravy for CBS, which, thanks to a $6 billion, 11-year deal signed in 1999, gets to keep all its “new media” revenues.

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