Viacom Slowing To Snail’s Pace

Written on
May 29, 2008 
Sarah Novotny  |

snail1.jpgADOTAS – 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 to say “This is the first indication of national advertising slowing.”

Sarah Novotny is a contributing editor at Adotas. Sarah grew up in San Jose, California. Her educational and professional career have taken her to both Los Angeles and New York City where she received a B.F.A. from NYU. As a writer, Sarah has free-lanced for various publications focusing primarily on traditional advertising and media reviews. When not writing and editing for Adotas, Sarah is continuing her acting career in various theatrical and film/television productions.

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