P&G's $100 Million Oprah Spree May Be Bigger Than It Seems
Procter & Gamble Co. signed an advertising pact valued at more than $100 million with the Oprah Winfrey Network, according to sources, notes The Wall Street Journal. The deal comes as the ad market heats up in advance of the yearly TV upfront. P&G's deal with OWN follows the network's planned debut next January. OWN, a joint venture between Oprah Winfrey's Harpo Inc. and cable programmer Discovery Communications Inc., is to replace the Discovery Health Channel in its approximately 80 million U.S. homes. Winfrey, the most popular host on daytime TV, is slated to appear prominently on the network.
Fox Business News says the agreement with OWN will last three years and will include both ad time and the integration of its products into OWN shows. P&G, the maker of various home and beauty products is enjoying a rebound in advertising spending, which was up 6.3% in January from the previous year. While the network confirmed the mltiyear deal, P&G, the maker of Old Spice deotorants, Pantene, Tampax and Tide refused to give specifics, said Gaea Times.
Winfrey, who transformed daytime TV and created several new shows, with Dr. Phil and Dr. Oz, said she will end her popular network TV show, which debuted in 1986, in September 2011.