- The TV industry is undergoing massive changes as people flee traditional TV to streaming platforms and advertisers shift big money from TV to over-the-top services.
- And now the coronavirus crisis is set to accelerate viewers’ abandonment of traditional TV.
- Even though viewers are flocking to streaming services, reaching TV-sized audiences on these platforms is a challenge for marketers.
- Business Insider has identified 23 people from agencies, networks, consortia and ad tech companies who are on the front lines to help them navigate these changes.
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The $70 billion linear TV advertising business was once considered indestructible, but it’s starting to crack.
People are cutting the cord more than ever and moving towards
. Streaming companies are chasing linear TV ad dollars with new ad formats and metrics.
And now the effects of the coronavirus have rippled through the TV industry.
The cancellation of major live sporting events – the rare bright spot in linear television – and the postponement of the Tokyo Summer Olympics have left networks such as ESPN, TNT and NBCUniversal scrambling and billions in ad spend to to win.
The major networks have canceled their initial in-person pitches that are used to introduce advertisers to their programming, which Wall Street firm Cowen expects to slump TV ratings and shift viewership to services. streaming.
“While the initial process that begins in May has become less important for several years, the pandemic could be a catalyst for major changes in the process,” wrote John Blackledge, managing director and principal research analyst at Cowen, in a recent note. . “The combination of deep uncertainty about the economy and the fact that production shutdowns mean there will be little to sell poses a particularly difficult challenge.”
Adtech companies create tools for marketers to buy, sell, and track their ad spend on digital platforms. And agencies are finding new ways for brands to advertise to networks and publishers.
Yet reaching TV-sized audiences on streaming platforms is a challenge for marketers.
“It had never been too broken to fix, and now it is,” said Dave Morgan, CEO of Simulmedia, an ad tech company that helps advertisers buy and measure TV ads. . “Everyone in the ecosystem recognizes that, but I think change is difficult.”
Business Insider has identified 23 experts from agencies, networks, streaming companies, consortia and adtech companies who are working to solve these problems for advertisers.
This list is based on nominations and our own reports. These frameworks, in a variety of ways, help marketers understand the impact of the coronavirus on media consumption, shift ad creative to present appropriate messaging, and shift ad spend from sports-intensive networks to other networks or platforms.
Here are the 23 TV insiders you need to know, listed alphabetically by last name.