This past week, I attended the BIA/Kelsey Next event in Boston, where the primary focus was on local digital advertising. A few of the sessions spoke to the opportunity for broadcasters to embrace digital, although for the most part that ship has already set sail. Understanding their stature in the local market and their pivotal relationship between advertisers and audiences, broadcasters are significantly expanding their reach with the addition of new revenue channels. It is the same “If you build it they will come” mantra that rang true for Kevin Costner’s character in the iconic Field of Dreams. And just like his sweat equity produced dividends, so have the broadcasters.
E.W. Scripps is a great example of a media company who is quickly expanding their footprint by both building and buying media outreach channels. The company acquired digital news provider Newsy last year, as well as podcasting production company, Midroll Media. Their recent acquisition of Cracked, a multi-platform satire brand that informs and entertains millennial audiences through a high-traffic website, mobile apps, original digital video, social media and popular podcasts, is the latest demonstration of the company’s innovation and strategy that reaches far beyond attracting viewers via traditional broadcast.
At the event, Nexstar shared a few case study examples on how their location-based, media-buying platform, Yashi, has extended advertisers’ reach. They too have leveraged acquisition as a means to grow revenue channels and expand reach, acquiring three content management systems. They also launched their own digital platform (Lakana) for publishers to better engage audiences and maximize revenues across every available channel. Their active digital imprint offers businesses a suite of digital products, including mobile marketing services, social media management and search engine optimization.
Digital marketing and advertising is critical to a business’ ability to target and engage consumers. Serving as the medium to help advertisers reach and connect with new, expanded audiences has become the game-changer. It is not just about embracing digital, it is about embracing media’s potential.
As a technology partner to these broadcasters, we are committed to providing a media ad sales platform that not only manages each opportunity whether old or new, but maximizes it. Integrated advertising sales is the future and if we continue to build it as industry, they will come.
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