CBS Interactive Ads Slip 5 Percent, As TV Ad Spend Rises

In most cases, online is generally the bright spot on a company’s earnings report. But not in CBS’ case, as the Interactive segment’s 5 percent ad decline offset the 8 percent growth at the TV network and cable. No wonder CBS (NYSE: CBS) Research head Dave Poltrack was so incensed last week at a Forrester survey that suggested marketers regarded TV ads as less effective. Overall, CBS’ total revenues were down only 1 percent, as radio and the lack of political advertising balanced out improved ad sales in general, along with growth in affiliate and subscription fees. Nevertheless, despite continued economic weakness, adjusted net income was up 23 percent.