BIA and the Secret Society are collaborating on how attribution can help local TV drive grow revenue in the Automotive vertical and will kick this off in a July 18th webinar “TV Attribution: Opinions and Discoveries” to be held from 2pm-3pm EDT.
The so-called Secret Society, in which BIA participates, is a broad and voluntary coalition of TV industry executives from TV groups, networks, data companies, tech vendors, agencies and brands all committed to sharing knowledge, opinions, and the search for better solutions in TV advertising.
BIA adviser Mitch Oscar and host USIM’s Russell Zingale’s held the first meeting of the Secret Society’s nascent local TV attribution task force at USIM’s Manhattan offices earlier this summer. Companies in the mix included A&E Networks, AMC Networks, Charter/ Spectrum, Comcast, comScore, E.W. Scripps, eMarketer, Experian, FreeWheel, Frontier, Hearst Television, IAB, McKinsey, Mediaocean, Operative, Philo, Premion, Sinclair Broadcasting, Tribune, TVB , TVSquared, USIM.
To pursue the work started by this task force, BIA and Mitch Oscar will highlight and advance some of the early thinking from this group during the webinar. The first area of focus for local TV and attribution is for the Automotive vertical.
Why the Automotive vertical? BIA’s recent report, Auto Industry: Insights into Local Advertising highlights the importance of this sector to local TV advertising as on average, 28.9 percent of the more than $15 billion in 2019 spending will go to local TV stations for their over-the-air broadcast and digital inventory. In some markets, like Memphis, TN BIA’s ADVantage service shows that the Auto vertical is even more important with up to a third of their overall spend going to local TV.
The downside for local TV in Auto is that BIA projects spending growth in will be primarily in digital channels. The local TV industry has to become more competitive with digital ad channels by better demonstrating its full funnel results in Auto campaigns.
Local TV attribution vendors offer a variety of data, models, and methodologies to shine light on the results of local TV advertising, and the industry hopes this may lead to more growth in TV not just digital. But there’s a lot of work yet to be done in local TV attribution. Hear from those on the front lines in this upcoming webinar. You can register here.