Another assault on local TV

Oh oh! Another assault on local TV commercials
A major shift in local spot ad spending from local TV stations to local cable operators is occurring and will permanently reshape local TV economics, according to a client report by Merrill Lynch analyst Jessica Reif Cohen. She estimates cable operators will double their $4 billion in revenue in the next couple of years at the expense of local broadcasters. Cable viewing now accounts for half of all television viewing, but only those broadcasters who choose to deny reality have to suffer. Internet advertising is the new frontier [creative, out‐of‐the‐box solutions], and local broadcasters with a commitment to the Web can more than offset losses in on‐the‐air revenues. We’ve entered a multi‐media era in communications history, a time when local TV needs to reinvent itself.

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