Major TV Broadcasters and Media Agencies
Support Industry’s Development of Open Standards-Based Business
Interfaces for Local TV
TIP Consortium Members to Participate in
April 10th NAB Show Panel “How the Local TV Ecosystem is
Streamlining the Transaction Workflow”
TIP Initiative (Television Interface Practices), a consortium of
local television broadcasters including Nexstar Media Group,
Sinclair Broadcast Group, TEGNA, Tribune Media and Hearst
Television, today announced the release of an updated framework for
standards-based transaction interfaces, highlighting the progress
the work group has made toward its goal of accelerating electronic
advertising transactions for local TV broadcasters and their media
agency partners.
Streamlining the advertising buying and selling process and
making standardized, modern transaction interfaces available are
keys to enabling future growth and innovation in the local
broadcast television industry. To solve this industry-wide
challenge and accelerate system interoperability, executives from
the largest U.S. broadcast TV groups collaborated and in late 2017
launched the TIP Initiative. TIP's mission is to create a coalition
of system providers to work with buyers and sellers to develop and
implement the technical framework and standards necessary to
streamline transaction workflows for local broadcast television
through standards-based open APIs.
“Members of the TIP Initiative share a strong commitment to
accelerating the next phase of growth and innovation for the local
broadcast television industry,” stated Perry Sook, Founder,
Chairman, President and CEO of Nexstar Media Group, Inc. “Embracing
technology and developing new innovative frameworks that eliminate
the complexity of the buying and selling process is critical to
strengthening local broadcast television’s long-term competitive
position. While there is more work to be done, we are energized by
the alignment of agencies and broadcasters toward our common goal
of creating a more efficient marketplace for local television
advertising transactions.”
In the first quarter of 2018, TIP engaged over twenty systems
providers, media agencies and broadcasters to collaborate on the
development of an open standards-based framework for the
system-to-system interchange of transactional information.
TVB, the trade association representing local broadcast
television, continues to serve as a repository for TIP’s work and
provides open access for industry partners. The consortium’s second
technical whitepaper is available at www.tvb.org/TIP.
“The TIP Initiative is excited to release our updated framework,
which we’ve made available to all vendors, media agencies and
broadcasters for their input,” said Chris Ripley, President and CEO
of Sinclair Broadcast Group. “Establishing an efficient and nimble
market is necessary for our industry to evolve toward an ATSC 3.0
future and preference will be given to system vendors that deliver
this capability for us. As we continue to refine the framework and
engage vendors to design and test interfaces, it is important for
buyers and sellers to require open interface standards.”
“Media agencies and local broadcasters are fully aligned in
developing open standards-based solutions for efficient automated
buying and selling of local spot inventory,” stated Frank Friedman,
President of Local Investment at Publicis Media. “Local
broadcast television consistently delivers measurable results for
our clients and eliminating transaction friction will allow us to
execute more targeted advertising campaigns that reach local
audiences at scale. As such, we look forward to continuing our
support of the TIP Initiative.”
“TIP’s ongoing collaborative effort is a major step forward
toward creating a more efficient advertising product that political
advertisers are demanding,” said Adam Stoll, President Target
Enterprises. “There is strong demand for local spot inventory, and
with the TIP Initiative, agencies and broadcasters are embracing
the automation necessary to enable new transaction models to
emerge.”
TIP Initiative participants will share their vision for
automation and the challenges to getting there at the 2018 NAB Show
panel, “How the Local TV Ecosystem is Streamlining the
Transaction Workflow,” on Tuesday, April 10, at 10:40 a.m. For
more information, please visit www.nab18.mapyourshow.com.
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 before divestitures, 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 an innovative media company that serves the
greater good of our communities. With 47 television stations and
two radio stations in 39 markets, TEGNA delivers relevant content
and information to consumers across platforms. It is the largest
owner of top 4 affiliates in the top 25 markets, reaching
approximately one-third of all television households nationwide.
Each month, TEGNA reaches 50 million adults on-air and 35 million
across its digital platforms. TEGNA has been consistently honored
with the industry’s top awards, including Edward R. Murrow, George
Polk, Alfred I. DuPont and Emmy Awards. TEGNA delivers results for
advertisers through unparalleled and innovative solutions including
OTT local advertising network Premion, centralized marketing
resource Hatch, and G/O Digital, a one-stop shop for local
businesses to connect with consumers through digital marketing.
Across platforms, TEGNA tells empowering stories, conducts
impactful investigations and delivers innovative marketing
solutions.
About Hearst Television
Hearst Television owns and operates television and radio
stations serving 26 media markets across 39 states reaching over 21
million U.S. television households. Through its partnership with
nearly all of the major networks, Hearst Television distributes
national content over nearly 70 video channels including
programming from ABC, NBC, CBS, CW, MY Net, MeTV, This TV, Estrella
and more. The radio stations are leaders
in Baltimore news/talk and rock music listenership.
Hearst Television is recognized as one of the industry's premier
companies, and has been honored with numerous awards for
distinguished journalism, industry innovation, and community
service. Hearst Television is a wholly owned subsidiary of
Hearst.
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
www.tvb.org, to support its members and to help advertisers make
the best use of local ad dollars.
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version on businesswire.com: https://www.businesswire.com/news/home/20180409005979/en/
Nexstar Media Group, Inc.Brett Jenkins, 972-373-8800Chief
Technology Officerbjenkins@nexstar.tvorJCIRJennifer Neuman, Joe
Jaffoni, 212-835-8500tvb@jcir.com
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