ADOTAS – In a conference at Sanford Bernstein & Co. yesterday, Viacom CEO Philippe Dauman warned company investors that despite dodging the economic downturn and having a fortuitous first quarter, the firm may not see double for Q2. He acknowledged the decline in the advertising industry has been affecting business. In his speech, Dauman predicted that Viacom’s Q2 would only see a growth of 3%-4% ad opposed the 7% seen in March.
Dauman stated “We are seeing some signs of softness in some categories. We are in an economically uncertain environment.” Analyst for Sanford C. Bernstein, Michael Nathanson was quoted on Bloomberg.com to say “This is the first indication of national advertising slowing.”