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Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.
On this day 20 years ago, the series finale of “Seinfeld” broke prime time TV advertising records for NBC.
Where The Market Was
The Dow finished the day at 9,172.23. The S&P 500 traded at 1,117.37. Today, the Dow is trading at 24,951.19 and the S&P 500 is trading at 2,736.15.
What Else Was Going On In The World?
In 1998, the U.S. announced its first annual budget surplus in 30 years. European nations officially agreed on the Euro being their universal currency. A postage stamp cost 32 cents.
The End Of The Show About Nothing
After nine seasons, the hit sitcom “Seinfeld” aired its two-part finale on NBC in May of 1998 to an audience of 76 million viewers. Advertisers paid a record $1 million for 30 seconds of air time during the shows.
GE), but today it's owned by Comcast Corporation (NASDAQ: CMCSA)." data-reactid="27">The “Seinfeld” finale marked the first time in TV history a non-sports broadcast had commended advertising rates in the $1 million range. At the time, NBC was a subsidiary of
General Electric Company (NYSE: GE), but today it's owned by
Comcast Corporation (NASDAQ: CMCSA).
The “Seinfeld” finale drew the fourth-highest ratings of any TV series finally behind only “M*A*S*H,” “Cheers” and “The Fuguitive.”
The finale drew mixed reviews from fans and critics alike, but there’s no question that “Seinfeld” was a huge cash cow for NBC and GE shareholders during its nine-year run.
'90s Nostalgia: 7 Shows We Want Back On TV
How Much Is Jerry Seinfeld Worth To Netflix?
Image credit: Alan Light, Flickr
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Source : https://finance.yahoo.com/news/day-market-history-seinfeld-finale-171111777.html