Overlooking the water from Pier Sixty at Chelsea Piers NYC, senior decision-makers gathered last week to discuss the current opportunities and challenges facing broadcast television across every screen at TVB’s Forward Conference. The action-packed day covered topics around automation, political predictions for 2020, and visions for 2025 and beyond.
As a sponsor of this year’s conference, FastPay had the opportunity to contribute to the conversation around automation with FastPay Network. “The consensus throughout the conference was the need to streamline buys with agencies and digitize the last mile of payments. Similar to the findings from our Forrester study on payment technology, both suppliers and agencies are looking to speed up the payment process by automating invoices. We’re excited to see how FastPay Network will help increase efficiency across the media ecosystem by reinventing the payment process for the digital age,” said Larry Shiels, VP of Supplier Development for FastPay Network.
When asked about the future of local broadcast TV in a packed panel, Jordan Wertlieb, the President of Hearst TV, predicted more selling time and better interpersonal relationships with the use of automation and machine learning by 2025. “I hope we’re leaving behind the discussion about the difficulties of buying local TV.”
In addition, discussions surrounding the upcoming 2020 election and the financial boost it will have on local TV proved to be a popular subject amongst attendees. The political super session ranged from “fake news” to the power of politics as a major revenue stream for broadcasters.
According to Kantar Media, $34M in local broadcast TV ads have already been booked for the 2020 election cycle with estimates for the most competitive local TV spending markets to include Phoenix, Dallas, Houston, Philadelphia and even Des Moines, Iowa and Lansing, Michigan. Greta Van Susteren, National Political Analyst from Gray Television, reported telling the TVB Forward crowd that the real winners in the 2020 election will be the ad sales folks from local broadcasters.
“It was great to see political media as a cornerstone topic for the conference. As Kantar pointed out during the conference, 2020 spending projections are predicted to be $6B in total and over $3B on broadcast alone. This figure is almost double the money spent on broadcast during the 2016 cycle so we can expect to see more political agencies utilize payment automation and technology to scale operations,” said Theresa Contario, VP of Political Payments at FastPay.
Thank you to TVB Forward for hosting such a top-notch event. FastPay is excited to be a part of this transformational time in local broadcast television as the advertising community works together to solve for the industry’s toughest challenges.