Yes, a lot of highly targeted networks have emerged with the help of cable and satellite television. And yes, the Internet is creating new channels and vast entertainment alternatives, all competing for viewers' limited attention. Yet the three networks still bring in almost double the total advertising revenue of cable. A fragmenting media market has made mass audiences harder and harder to reach, and the networks offer an unparalleled platform to reach those audiences through their prime-time programming. They generate a level of excitement that brings a cachet to brands well beyond mere audience share.
Network television remains squarely at the center of the pitched battle for consumers' attention.
Yes, network audiences are declining, even as the number of TV households rises. Yes, a lot of highly targeted networks have emerged with the help of cable and satellite television. And yes, the Internet is creating new channels and vast entertainment alternatives, all competing for viewers' limited attention. But rather than spelling the end of network television, these trends have made the mass audiences and big-event buzz that CBS, NBC, ABC and Fox can deliver to advertisers more valuable than ever. At first glance, the numbers suggest the opposite.