NBCU’s Upfront Presser…
Wednesday I noted the introduction of Live +3 ratings into the NBCU world. Yesterday power players from the world of NBCU converged to have a presser for financial analysts in Manhattan. A lot of noteworthy things came out of that meeting but for the purposes of this blog only two are worth mentioning.
Variety’s Michael Learmonth notes that the cost cutting initiative, “NBCU 2.0″, is far from over…in fact it has grown past its original range…
Zucker touted the NBC 2.0 cost-cutting initiative, which saved the company $600 million-$700 million last year, and said further cuts of $300 million-$400 million are planned for the coming year as the company seeks to transform what he called its “analog cost structure.”
Did anyone pin Zucker down on what those cuts would entail? Well, TVWeek’s Michele Greppi has a bit more on that…
Mr. Zucker identified several other major “headwinds” affecting NBCU: Its DVD library is not as valuable as it once was and, until NBCU operations are completely digitized, outdated analog structural costs are a drag on the bottom line.
Mr. Zucker said new targets for cost-cutting will raise to $1.5 billion the total efficiencies achieved since beginning the transition to digital and other synergies.
“We’re going to continue to make necessary changes,” he said of cost-cutting and more upbeat strategies. “We are really clicking.”
Ok, which is it? Learmonth pegs the total cuts at 1 billion if you add the worst case numbers together. Greppi quotes a number that’s half a billion more than that…not chump change. Or was Zucker giving out two sets of numbers which didn’t reconcile with each other?
Meanwhile The Hollywood Reporter’s Paul J. Gough includes some quotes from CNBC President Mark Hoffman regarding his network’s performance with the launch of FBC on the horizon…
As competition from the Fox Business Channel faces CNBC this year, CNBC president Mark Hoffman said the channel had improved, with a 200% increase in business-day viewership since its low point in 2005, and double-digit revenue growth. He touted the greater business focus of primetime and CNBC’s revamped daytime, along with investments in longform content.
“We’re focused always on playing offense with competitors here today or (those who) might be coming down the road,” Hoffman said. A high-definition version of CNBC will debut in January, he said.



“cost-cutting and more upbeat strategies.”
Luv this. Mr Zucker, I wonder if your employees view these “cuts” as “upbeat” ?
Posted by Hmmm - June 15,2007 @ 11:27 am
Comment by Hmmm — June 15, 2007 @ 11:27 am
Awesome! CNBC babes now in HD…a good way to fight off FBC lol
Comment by Anonymous — June 15, 2007 @ 11:39 am