Four major TV station groups -- Nexstar Media Group, Sinclair Broadcast Group, Tegna and Tribune Media -- are forming a consortium to work on developing new local TV advertising standards.
The effort, called TIP -- TV Interface Practices -- streamlines the manual process of buying and selling local TV advertising, which has been plagued with challenges.
Some of the efforts include looking at “system-to-system” electronic processes that can streamline buying of local TV media; creating coordination across multiple broadcast companies; and encouraging the needed interchange of transactional information.
In addition, the group is looking at standard interfaces for future “next gen” ATSC 3.0 technology to increase efficiency of buying local media by U.S. advertising agencies.
“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our advertising agency partners have told us they are unable to leverage our valuable television ad inventory because outdated processes leave them with little or no margin to support a local spot buy,” stated Chris Ripley, president/CEO of Sinclair Broadcast Group.
Dave Lougee, president/CEO of Tegna, added: “There is strong demand for premium local advertising opportunities because live TV viewing remains the largest form of media consumption." The goal is to be "innovative and develop new ways to allow advertisers to connect with their targeted audiences more effectively.”