The Sydney Morning Herald reports Wednesday that cable channel CNBC is expanding into Australia by opening a news bureau on the continent in March.
The story stated, “The aim is to grow local and regionally managed ad revenues by 25 per cent and use Australian equity markets as a key daily trading cue for Asian viewers.
“CNBC Asia Pacific’s managing director, Jeremy Pink, would not disclose the online and pay TV channel’s local revenues or first-year targets, but said Australia was increasingly important as an indicator for regional and global currency and commodity markets.
“Already companies such as British Airways and IBM book their pan-Asian ad schedules on CNBC from Australia.
“Others such as Harvey Norman, Telstra, Nissan, Volvo and Westpac buy airtime on the channel for the current Australian feed.
“Mr Pink said the worldwide revamp of CNBC’s programming format and the creation of a one-hour Australian show, which would be carried across Asia and into the ‘global feed’ every morning, would increase ad revenues from Australia by up to 25 per cent. It would also provide regional viewers with the earliest indications of how markets here were reacting to US markets.”
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