Spots N Dots
The Daily News Of TV Sales
April19, 2018
HOMES SOLD LIKE HOTCAKES LAST YEAR
FASTEST SALES PACE ON RECORD
You’ve heard that inventory is tight in key home buying sectors and demand remains strong despite rising mortgage interest rates. Zillow analysts are cautioning home shoppers that they should be prepared to move quickly when they find a home they want. With all of the data in from 2017, Zillow’s number crunchers say homes sold at their fastest pace on record.
It took 81 days to sell the median U.S. home in 2017, nine days faster than the year prior. The quickest selling month for the typical home was June 2017, when it took about 73 days for a home to sell, including closing. Since it can take between four and six weeks to close a home sale, that means that the typical home was on the market for around 30 days before going under contract.
Buyers are facing a limited market this home shopping season, as has been the case for the past three years. Inventory across the country has fallen on a year-over-year basis for 37 consecutive months, leaving fewer options for buyers. Last year, Zillow reports that nearly a quarter of all homes sold for more than the listed price, signaling that tight competition may be leading to bidding wars and driving prices higher.
“As demand has outpaced supply in the housing market over the past three years, buying a home has become an exercise in speed and agility,” said Zillow Senior Economist Aaron Terrazas. “This is shaping up to be another competitive home shopping season for buyers, who may have to linger on the market until they find the right home but then sprint across the finish line once they do.”
The typical buyer spends just over four months searching for a home and makes two offers before successfully buying a home, according to the Zillow report. Since homes in several markets sold in less time than that, buyers should be ready to move quickly when they find a home they want to purchase.
Homes sold faster in 2017 than they did the year before in nearly all of the 35 biggest housing markets. In Houston, homes sold slightly faster in 2016 (80 days) than in 2017 (81 days). Homes in Miami sold in 110 days in both years.
The fastest-selling market in 2017 was San Jose, CA, where the typical home sold in 41 days. San Jose also experienced the biggest drop in inventory over the past year, with 26.8% fewer homes to choose from than a year earlier. Homes in San Jose sold fastest last year in October, with a span of just 39 days from listing to closing.
ADVERTISER NEWS
General Motors launched its Marketplace application in December. It’s believed that most consumers didn’t understand how the app works because at its launch not all of Marketplace’s capabilities were available. Basically, Marketplace sits as a layer on top of GM’s multimedia unit. It connects the car’s information, such as where it is and how much fuel it has, with applications of several outside companies. It allows the driver to order coffee or food on the way to work and the car gives the driver a prompt when they are getting close to the location of their order. General Motors recently announced that Marketplace users will have the ability to prepay for gasoline purchases at Shell stations……Home Depot has announced its plan to add more than 1,000 new jobs for its technology teams this year. The new hires will cover roles such as software engineering, user experience design and product management. The new jobs will primarily be in the company’s Atlanta, Austin, and Dallas technology centers. The new hiring plan will support Home Depot’s $11 billion multi-year investment to extend its lead in brick-and-mortar over competitors like Lowe’s and fend off increased competition from Amazon and other online retailers. Currently, Home Depot has approximately 2,800 employees in technology roles....In a time when many retail companies are closing stores or going out of business altogether, some big-box retailers are boosting business by opening new, smaller stores in strategic locations. Target, for example, is finding new customers in places where there isn’t enough space for a warehouse-like big-box store, but there are plenty of consumers who appreciate the convenience these stores offer. Forbes is reporting that Target’s new small-format stores are typically located in big cities, near college campuses, and in dense suburban spots where space is limited. The new small-format Targets are typically between 20,000 and 40,000 square feet – compared with as much as 145,000 square feet for a regular Target……Kohl’s is also going small, albeit with a different approach. Kohl’s has been remodeling many of its existing stores, reducing them in size from about 87,000 square feet to about 60,000 and leasing the converted space to the German discount supermarket chain Aldi. Kohl’s new strategy brings in more traffic as people shopping for groceries stop in at Kohl’s to look around. Kohl’s is also testing even smaller formats. The small-box Kohl’s takes up about 35,000 square feet and allows the retailer to experiment with moving into different geographical locations....Meijer has introduced a “Shop and Scan” smartphone app that lets shoppers scan and bag their groceries in the aisle. Consumers using the new service scan bar codes on items as they shop and bag their groceries while they move through the store, which the Michigan-based chain says dramatically decreases checkout time.
NETWORK NEWS
Former FBI director James Comey’sappearance on Tuesday’s The Late Show With Stephen Colbert on CBS brought the program the highest overnight rating of the season. The show posted a 3.5 rating and a 9 share in households in the Nielsen overnights. The network noted that those numbers represent the Late Show’s biggest lead over NBC’s Tonight Show in household overnights since Colbert took over the show in September of 2014. The delivery was also the show’s third-highest number since Colbert began. The Late Show won the night in the demo as well, with a 0.6 adult 18-49 rating and a 4 share. The Tonight Show posted a 0.5 demo rating and a 3 share, while Jimmy Kimmel Live on ABC drew a 0.4 demo rating and a 3 share……In primetime on Tuesday night,Roseanne was the winner again on ABC. The sitcom reboot averaged a 3.4 rating in adults 18-49 and 13 million total viewers. The new comedy Alex Inc., which aired immediately after Roseanne instead of its normal Wednesday time slot, got a bump from the strong Roseanne lead-in. Alex Inc. was up 30% in both the demo and total viewers over last week with a 1.2 adult 18-49 rating and 4.9 million total viewers. For the night ABC was the winner in the demo with an average 1.3 rating. NBC was second with a 1.1 average rating, CBS third with a 1.1 rating, Fox posted a 0.7 rating while the CW managed an average rating of a 0.6……A new showrunner has been named for the CW primetime series Arrow. Variety is confirming that Beth Schwartz will take over the CW-DC series for the upcoming seventh season. Marc Guggenheim, one of the co-showrunners on Arrow will transition into the role of executive consultant on both Arrow and fellow DC show Legends of Tomorrow. Co-showrunner Wendy Mericlewill leave Arrow at the end of Season 6. In addition, Phil Klemmer, who is co-showrunner with Guggenheim on Legends of Tomorrow will take over sole responsibility for that series. Schwartz joined Arrow in Season 1 as a writer and has gone on to write two dozen episodes since. She became co-producer in the show’s fourth season. She has also served as consulting producer and writer on Legends of Tomorrow. Her other writing credits include Hart of Dixie and Brothers & Sisters…….ABC News is taking over Nate Silver’s publication FiveThirtyEight from its sister network ESPN. ABC News president James Goldstonannounced the move in a memo to the staff on Tuesday. In the memo, Goldston said, “At a time when politics has never been more extraordinary, fascinating and confusing, FiveThirtyEight will help us bring more clarity and insight to what’s really going on,” he wrote. “I am hopeful that the combination of their skills and ours will lead to even more great work in the years ahead.” In a release, Silver said the Goldston “has a real vision for how FiveThirtyEight can contribute to ABC news and election coverage, and we’re looking forward to building upon what we’ve created at ESPN.” Silver and his reporters are expected to make regular appearances on ABC News platforms.
COMPETITIVE INFO
The long decline in newspaper ad revenues should finally come to an end next year, predicts veteran forecaster Jack Myers. While legacy print ad revenues are still projected to drop from $9.9 billion this year to $8.8 billion in 2019 and $8.2 billion in 2020, digital ad revenues for newspaper-originated content is set to surpass print next year and finally give the newspaper industry an advertising growth year— albeit small growth—in 2020. Jack Myers TomorrowTodayforecasts that U.S. newspaper’s digital ad revenues will grow from $8.4 billion this year to $9.1 billion in 2019 and $9.9 billion in 2020. Combined, Myers forecasts that newspaper ad revenues will total $18.3 billion in 2018, slip to $17.9 billion in 2019—and then rise to $18.1 billion in 2020.
The Newspaper Association of America—which has since quit publishing such data and changed its name to News Media Alliance—reported that newspaper ad revenues peaked at $63.5 billion in 2000. Since then they have been in a steady decline.
NO WHITE KNIGHT FOR BON-TON
In the end, Bon-Ton Stores CEO Bill Tracy says the department store company was unsuccessful in finding a bankruptcy court bidder to keep the business operating. Instead, the court is being asked to approve a sale of assets which will result in a wind-down of operations with all stores closing.
Under the winning bid, a joint venture composed of the holders of the company’s 8.0% Second Lien Secured Notes due 2021 and Great American Group, LLC and Tiger Capital Group, LLC will acquire the inventory and certain other assets of the Company. Throughout the court-supervised asset sale process, the company’s stores, e-commerce and mobile platforms under the Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’sand Younkers nameplates will remain open throughout the store closing sales. Bon-Ton expects to provide more details about the liquidation plans and going out of business sales at its stores following formal approval of the winning bid by the Bankruptcy Court. A hearing took place yesterday.
NETFLIX REPORTS SUBSCRIBER GROWTH IN Q1
We reported earlier this week that the most watched programs on Netflix are TV reruns. It appears to be big business.
Netflix reports overall revenues reached $3.7 billion in first quarter, up 40% year-over-year — a company record and an acceleration versus 33% growth in Q4 2017.
Business Insider says the revenue growth acceleration stemmed in part from a price hike that rolled out in Q4 2017, another sign of just how sturdy Netflix’s relationship is with consumers.
Subscriber growth continues as Netflix pushes its dual strategy of aggressive international expansion, and content and marketing investment. Despite being a relatively mature market, US domestic subscriber growth is still happening, although less rapidly.
ACCOUNT ACTIONS
Macy’s has begun a media agency review, the retailer confirmed to Adweek, having recently awarded its creative account to BBDO. The incumbent on the more than $1 billion media account is Carat, which will participate in the review……Volkswagen AGhas launched a global review of its creative agency relationships. Interpublic Group’s Deutsch is the North American incumbent. New CMO JochenSengpiehl reportedly wants a global rebranding as “New Volkswagen,” more centralized control at the company’s Wolfsburg, Germany headquarters and a reduction in overall marketing spending……Dunkin’ Donuts announced BBDO Worldwide as its new creative agency of record. The company also announced that it was awarding responsibility for retail and in-store marketing to ARC/Leo Burnett.
THIS AND THAT
Businesses rely on online forms, but customers often abandon forms efore completing them. Over 80% surveyed by the business website The Manifest say they abandoned at least one online form recently, with nearly a third (29%) citing security concerns and more than a quarter (27%) quitting forms that are too long. Few bother to return to finish the process……Toyota and Lexus want cars to be able to “talk” to each other on the road, so they plan to start deployment of Dedicated Short-Range Communications (DSRC) systems on vehicles sold in the United States starting in 2021, with the goal of adoption across most of its lineup by the mid-2020s. The goals of having vehicles communicate with each other include fewer accidents, better traffic flow and less congestion.... OTT platforms in the U.S. will rocket 40% this year from a year ago -- to some $16.6 billion, says Convergence Research Group, which based their results on 55 OTT providers.
AVAILS
CBS 5 & 3TV – Phoenix – Broadcast Sales: Work with top-tier talent at a news station who considers the Phoenix community and employees family. As an Account Manager you will develop new business and create client solutions with digital products including video, email and mobile. Those with exceptional interpersonal skills, a competitive spirit, and integrity should contact us today! One to two years media sales experience a plus. College degree preferred. CLICK HEREfor more information or to apply now. EOE.
WSLS-TV in Roanoke, VA, the NBC affiliate and a Graham Media Group station, seeks a motivated General Sales Manager. The successful candidate will have a command of sales and marketing, be a dynamic leader of people, be a team player, understand the importance of long-range planning and strategy, possess a strong work ethic, and have the highest standards of integrity. 7 years’ experience in broadcast sales preferred, 3 to 5 years as a sales manager ideal. To apply, send resume to Jaimie León, General Manager, . EOE.
KVVU FOX 5 in Las Vegas is seeking a Local Sales Manager. The LSM oversees, leads and motivates local Account Executives to generate new advertisers and expand the revenue share of existing clients. This position utilizes all sales platforms to develop new business including broadcast television, digital and mobile media and strategically leads the team in growing transactional accounts. Five plus years of local television sales or related experience preferred. Find out more about this opening, or apply now HERE. EOE.
WSMV-TV Nashville, TN is searching for a talented Digital Sales Manager who can inspire a team to learn and sell new products, achieve revenue budgets and provide clients with superior results. Candidates must possess extensive knowledge of and be able to communicate the benefits of station websites, apps and emerging digital media properties related to WSMV, as well as the many third party platforms available to its customers. Please visit apply – search for requisition JR04487. EOE.
WYFF 4, the Hearst Television NBC affiliate in beautiful Greenville, SC seeks a superstar Account Executive. We are looking for an experienced sales professional who can excel with some of the top accounts on the station while achieving goals across all platforms. Are you a driven, passionate, highly competitive person who likes to WIN? Do you have a commitment to operational excellence, the ability to own transactional business, a track record of New Business success, and like to have fun? Then come work at one of the best television stations and best cities in the country. Google “Greenville, SC Top 10” and see why everyone wants to live here! Candidates interested in joining our award-winning team should click HEREto apply. No calls, please! E.O.E.
Organic is a grocery term meaning twice as expensive.–Jim Gaffigan
First rule of camping: bring the kind of toilet paper that won’t attract animated bears.–FunnyTweeter.com
------
SPOTS N DOTS
The Daily News Of TV Sales
April19, 2018
Phone: 888-884-2630