Viacom’s president and CEO Philippe Dauman has indicated that despite a tempestous economy “the overall advertising market continues to strengthen. He added that he expects growth for the U.S. ad market in the third quarter.
“Of course, we are not all the way back, but the horizon is brighter,” said Chairman Sumner Redstone of the economy and ad market.
Dauman also noted that they would appeal the decision against the company in the suit against YouTube. He said the decision was “inconsistent with rulings of other courts.”
MTV had the second consecutive year-over-year ratings growth, which benefited the advertising revenue. Also, the Rock Band division manged to lower its costs and post a better result.
Source: AdWeek {link no longer active}
