TV Station Groups Launch Consortium To Up Ad Standards
- by Wayne Friedman , November 20, 2017
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our advertising agency partners have told us they are unable to leverage our valuable television ad inventory because outdated processes leave them with little or no margin to support a local spot buy,” stated Chris Ripley, president/CEO of Sinclair Broadcast Group.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.”
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Videa’s Shereta Williams on TV Interface Practices (TIP) Initiative:
Videa is a believer and supporter of the power of local TV and its ability to deliver ROI. We are proud to be part of the TV Interface Practices (TIP) Consortium to promote open standards and an agreed-upon framework of APIs that will help deliver operational efficiencies and transparency. We continue to diligently work with buyers, sellers, stations and station groups to deliver automated workflow processes that allow advertisers to reach local audiences at scale, while enabling sellers to maximize their inventory and focus on creating value. This cross-industry effort to streamline the selling and buying of local spot TV is a win-win for everyone as our industry incorporates more technology-driven solutions and advancements towards advanced TV.