Nexstar, Sinclair, Tribune and TEGNA Consortium Launches
Standards-Based Project to Bring Streamlined Business Interfaces to
Local TV and Invites Industry Participation
Download “Interface Automation Guidelines for Local TV
Transactions” TIP Initiative’s First Technical Whitepaper at www.tvb.org/TIP
Company Website:
http://www.tvb.org/
NEW YORK -- (Business Wire)
A consortium of local television broadcasters including Nexstar Media,
Sinclair Broadcast, TEGNA and Tribune Media, today announced the launch
of the TV Interface Practices or “TIP
Initiative,” an industry work group dedicated to developing
standard-based interfaces to accelerate electronic advertising
transactions for local TV broadcasters and their media agency partners.
The local TV industry has struggled with the manual nature of the
advertising buying and selling process for many years. While various
solutions providers have sought to streamline the process to support the
industry’s long-term competitiveness, progress has been slow due to a
lack of universal modern standards-based interfaces. In early 2017,
broadcast executives from Nexstar,
Sinclair
and Tribune
came together to accelerate, coordinate, standardize and make open the
technical framework necessary to streamline the local TV transaction
process. TEGNA
joined the consortium earlier this month. With TEGNA’s participation,
the consortium now represents the four largest station affiliate groups
in the US.
This consortium of broadcasters believes in these guiding principles:
-
Local television is the most powerful brand-building medium,
connecting marketers with consumers and advertisers, brands and
broadcasters will benefit from the best automation;
-
While demand is high for local television ad inventory, transactional
friction has created challenges for buyers;
-
System-to-system electronic processes can streamline the buying of
local spot media; however, creating interoperability takes
coordination across multiple broadcast companies;
-
Standards-based interfaces are the best way of encouraging the needed
system-to-system interchange of transactional information; and,
-
Standard API interfaces set the stage for advanced local TV and ATSC
3.0 and will greatly enhance the efficiency of buying local media by
U.S. advertising agencies.
The consortium contacted over a dozen systems providers involved in
various aspects of local TV transactions to review existing electronic
methods and specifications that support local spot buying. From this
research, a set of API’s are proposed to support the electronic transfer
of “buy” transactional data. TVB,
the trade association representing local broadcast television will
provide a repository for the TIP Initiative’s work and open access for
industry partners. The consortium’s technical whitepaper, “Interface
Automation Guidelines for Local TV Transactions,” is a
consolidated description of potential best practices describing the
local TV transaction workflow and recommended API framework. The
whitepaper and details of the TIP Initiative is available at www.tvb.org/TIP.
“The goal of the TIP
initiative is to accelerate local TV interoperability by creating a
coalition of system providers to work with buyers and sellers to develop
and implement streamlined transaction workflows using standards-based
open APIs,” stated Perry
Sook, Chairman, President and CEO of Nexstar
Media Group, Inc., who also serves as the Chairman of TVB.
“Local broadcast television remains unrivalled among all media as its
reach, engagement and influence consistently delivers proven
revenue-generating marketing solutions to advertisers and brands. To
sustain local television’s advantages across all screens and devices, we
must work together as an industry to create a more efficient marketplace
for advertisers to access local TV inventory in a manner that is cost
effective for the buyer, while maintaining the integrity of our product.
By encouraging broadcasters, advertisers and others to join the TIP
Initiative and participate in this important, ongoing collaborative
effort we will improve our competitiveness with other media and deliver
more brand safe solutions to advertisers and brands.”
“Many of our advertising agency partners have told us they are unable to
leverage our valuable television ad inventory because outdated processes
leave them with little or no margin to support a local spot buy,” said Chris
Ripley, President and CEO of Sinclair
Broadcast Group. “The TIP
Initiative demonstrates the industry’s shared commitment to working
together with technology providers and advertising partners to develop
open standards-based solutions for efficient automated buying and
selling of broadcast TV spot inventory. In addition, advertising and
programming content monetization options will expand with Next-Gen TV,
giving broadcasters the ability to deliver targeted campaigns to
advertisers that reach local audiences at scale. For our industry to
quickly and effectively optimize this opportunity, while ensuring
transparency, it is important for us to collaborate on this effort ahead
of the adoption of ATSC 3.0.”
“We believe the TIP
Initiative is an important first step toward automating the buying
and selling of broadcast television inventory in a manner that
facilitates fairness and integrity of the marketplace,” said Larry
Wert, President and CEO of Tribune
Media. “A lack of progress on the buy- and sell-side has prevented
broadcasters from unlocking the full value of our local content
offerings. Embracing innovation is critical to elevating the competitive
position of the local broadcast television industry, while driving the
continued growth of our respective businesses. By actively working
together to implement standards-based open APIs and technologies, we
will be able to extract efficiencies and create a platform for
advertisers to more effectively access our multi-screen inventory and
transact business.”
“There is strong demand for premium local advertising opportunities
because live TV viewing remains the largest form of media consumption.
Our inventory is finite, our platforms give marketers direct access to
customers and our local content remains consumers’ first choice,” added Dave
Lougee, President and CEO of TEGNA.
“We must be innovative and develop new ways to allow advertisers to
connect with their targeted audiences more effectively. Automation
removes the costs and complexity from the local broadcast TV ad buying
and selling process, giving local stations and advertisers the
opportunity to more efficiently allocate their respective resources. The TIP
Initiative will serve as a foundation for marketplace fairness and
the implementation of standards-based open APIs.”
More information about the TIP Initiative is available at www.tvb.org/TIP.
About Nexstar Media Group
Nexstar Media Group is a leading diversified media company that
leverages localism to bring new services and value to consumers and
advertisers through its traditional media, digital and mobile media
platforms. Nexstar owns, operates, programs or provides sales and other
services to 170 television stations and related digital multicast
signals reaching 100 markets or approximately 39% of all U.S. television
households. Nexstar’s portfolio includes primary affiliates of NBC, CBS,
ABC, FOX, MyNetworkTV and The CW. Nexstar’s community portal websites
offer additional hyper-local content and verticals for consumers and
advertisers, allowing audiences to choose where, when and how they
access content while creating new revenue opportunities. For more
information please visit www.nexstar.tv.
About Sinclair Broadcast Group
Sinclair
Broadcast Group, Inc. is one of the largest and most diversified
television broadcasting companies in the country. Pro forma for pending
announced transactions, the Company will own, operate and/or provide
services to 233 television stations in 108 markets. The Company has
multiple emerging networks as well as stations affiliated with all the
major networks. Sinclair is a leading local news provider in the country
and a producer of live sports content. Sinclair’s content is delivered
via multiple platforms, including over-the-air, multi-channel video
program distributors, and digital platforms. The Company regularly uses
its website as a key source of Company information which can be accessed
at www.sbgi.net.
About Tribune Media
Tribune
Media is home to a diverse portfolio of television and digital
properties driven by quality news, entertainment and sports programming.
Tribune Media is comprised of 42 owned or operated broadcast stations,
national entertainment network WGN America, Tribune Studios, WGN-Radio
and a significant number of real estate properties and strategic
investments. Tribune Media combines distinctive content with nationwide
broadcast distribution and cutting-edge digital properties and data
businesses. As it prepared to separate its publishing business, Tribune
Media acquired Local TV Holdings to become the nation’s largest
independent broadcaster, began the conversion of its superstation WGN
America into a widely distributed general entertainment cable channel,
and launched a re-imagined Tribune Studios as an engine for producing
original content. In every aspect of the company, whether in producing
critical local news, riveting original programming, or premier sporting
events, Tribune Media engages and connects viewers with must-have
content across every distribution platform.
About TEGNA
TEGNA
Inc. is a media company innovating in the digital age. Our purpose
is to serve the greater good of our communities – through empowering
stories, impactful investigations and innovative marketing services. As
one of the most geographically diverse broadcasters in the U.S., TEGNA
is a best-in-class operator with 46 television stations (including those
serviced by TEGNA) in 38 markets from coast to coast. We are the largest
owner of top 4 affiliates in the top 25 markets and reach approximately
one-third of all television households nationwide. TEGNA provides local
and national partners custom, targeted and integrated campaigns that
help their business grow and thrive by reaching the right audiences at
the right time.
About TVB
TVB is the not-for-profit trade association representing America’s $21
billion local broadcast television industry. Its members include over
800 individual television stations, television broadcast groups,
advertising sales reps, syndicators, international broadcasters and
associate members. TVB actively promotes local media marketing solutions
to the advertising community and works to develop advertising dollars
for the medium’s multiple platforms, including on-air, online and
mobile. TVB provides a diverse variety of tools and resources, including
its www.tvb.org,
to support its members and to help advertisers make the best use of
local ad dollars.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171120005141/en/
Contacts:
Nexstar Media Group, Inc.
Brett Jenkins, 972-373-8800
Chief
Technology Officer
bjenkins@nexstar.tv
or
JCIR
Jennifer
Neuman, Joe Jaffoni
212-835-8500
tvb@jcir.com
Source: TVB
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