Upfront is "Up"
This happened despite the new ratings indicating an audience decline of 5%-10%. As I mentioned previously, the networks' response of raising rates actually worked!
The argument the networks used was "Hey, you can't get to mass audiences any better". They invoked what I call "the reach premium". The argument is that if you want to cover a large percentage of the US audience with your campaign, you need to buy those with the largest reach to efficiently ensure they get the message. Since there are only so many networks with big reach, they can ask for a premium.
Will local television be able to hold the line on revenues with local advertisers? We'll see.