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Sky is calling on advertisers and their agencies not to renegotiate £20m in ad deals affected by the pulling of its channels from Virgin, until after its financial year ends in June.
Sky Media's managing director Nick Milligan has been trying to persuade media agencies not to make any "knee jerk reactions" to the withdrawal, they want agencies to hold off until June to see how the situation plays out.
Not all agencies are sympathetic "Sky has taken a strategic business decision to land grab Virgin Media's customers and that has resulted in a loss of audience, which is unacceptable to us on behalf of our clients," Starcom UK's trading director Chris Locke told the Sunday Telegraph. "For the second half of this year we will review where those viewers have gone and move our money accordingly."
Viewing figures show that the loss of the basic channels from the Virgin cable service will see around a 12 per cent dip in audience, based on year-to-date viewing figures.
In terms of advertising revenue the loss of the 3.3m homes is predicted to impact Sky's total sales by around 8 per cent, according to media agency figures. However, on a channel-by-channel basis this impact is more pronounced. For example, Sky One has lost close to 30 per cent of its share of advertising; Sky News 18 per cent; Sky Travel 30 per cent and Sky Two 13 per cent.
Sky is said to be considering strategies to boost viewing figures - and appease agencies and clients - including the possibility of airing live football and quality film premieres on Sky One.
Sky Media's managing director Nick Milligan has been trying to persuade media agencies not to make any "knee jerk reactions" to the withdrawal, they want agencies to hold off until June to see how the situation plays out.
Not all agencies are sympathetic "Sky has taken a strategic business decision to land grab Virgin Media's customers and that has resulted in a loss of audience, which is unacceptable to us on behalf of our clients," Starcom UK's trading director Chris Locke told the Sunday Telegraph. "For the second half of this year we will review where those viewers have gone and move our money accordingly."
Viewing figures show that the loss of the basic channels from the Virgin cable service will see around a 12 per cent dip in audience, based on year-to-date viewing figures.
In terms of advertising revenue the loss of the 3.3m homes is predicted to impact Sky's total sales by around 8 per cent, according to media agency figures. However, on a channel-by-channel basis this impact is more pronounced. For example, Sky One has lost close to 30 per cent of its share of advertising; Sky News 18 per cent; Sky Travel 30 per cent and Sky Two 13 per cent.
Sky is said to be considering strategies to boost viewing figures - and appease agencies and clients - including the possibility of airing live football and quality film premieres on Sky One.