Video Advertising Bureau brings national broadcast and cable programmers and distributors together in one association for the first time.
New outfit will spearhead research to quantify the selling power of TV content.
NEW YORK – For the first time, an association will combine the biggest broadcast networks, cable networks, and distributors to advance the power of video advertising. Starting today, the Video Advertising Bureau (VAB) will replace the longstanding Cabletelevision Advertising Bureau (CAB). The VAB’s goal in uniting nearly all broadcast and cable networks with MVPDs is to raise the bar on research, data and analytics, and expand the market for advertising in professionally produced video content.
This will clearly advance the share of voice for the industry and support the initiatives that will provide incremental value to advertisers as technology, data and consumer choice change the dynamics of the medium.
“Our industry is changing rapidly, however one constant is the unquestionable power of television to reach consumers with advertiser messaging,” said Joe Abruzzese, President, Advertising Sales at Discovery Communications and inaugural Co-Chair of the VAB. “By broadcasters, cable networks and distributors coming together in this unprecedented way, VAB members will share expertise and insights, put forward original research and push toward a common goal of elevating television’s leadership in driving product sales and brand affinity for clients.”
In all, the VAB comprises 110 networks and the 11 largest MVPDs. VAB members produce and sell the overwhelming majority of video content, and likewise command the vast majority share of viewer attention. This attention advantage manifests across all screens – TV, desktop, laptop, tablet and smartphone – totaling 80% (140 hours) of the 175 hours/month Americans devote to the universe of ad-supported TV, Google/YouTube, AOL, MSN, Yahoo and Facebook.
“The time has come for the TV industry to be represented holistically with the power of the content superseding the differences in distribution,” said Rino Scanzoni, Chief Investment Officer for media buyer Group M. “This will clearly advance the share of voice for the industry and support the initiatives that will provide incremental value to advertisers as technology, data and consumer choice change the dynamics of the medium.”
The VAB’s top priority is commissioning research on two levels – quantifying the primary role that ad-supported TV plays in generating consumer sales traffic, and clarifying attribution in the modern media mix.
“We are proud to work alongside our expanded membership of broadcasters and cable networks at the Video Advertising Bureau to expand the thought leadership on best practices and insights for marketers,” said Joan Gillman, Executive Vice President and Chief Operating Officer, Time Warner Cable Media and inaugural Co-Chair of the VAB. “Our collective goal is to help our clients make stronger connections with consumers where they watch, when they watch, and on any device.”
Content over distribution
VAB members are creating the next ways for advertisers to capitalize on the attention advantage, from data platforms to addressable TV advertising. In unison, the innovations can refine the state of the art of video advertising.
“There is no substitute for quality content in the presence of valuable data and insights,” said Linda Yaccarino, Chairman, Advertising Sales and Client Partnerships at NBCUniversal. “It only makes sense to expand this organization’s focus to reflect the rapidly changing premium video environment and strengthen the research it can provide to content creators and advertisers regardless of platform — it doesn’t matter where the content is consumed, it only matters that it’s great.”
The more ways viewers can get video, the more they continue to choose premium TV content. According to researcher GfK’s 2014 UK-US SVOD study, TV content accounts for 88% of all streaming activity in the U.S.
“The media landscape is changing rapidly but one thing remains a constant: premium TV content is still the most powerful environment for advertisers,” said Jo Ann Ross, President, Network Sales, CBS Television Network. ”We are committed to helping our clients leverage this content effectively across multiple screens, and are pleased to be joining other broadcast and cable networks in this important initiative.”
Cross-screen commitment
Leading the VAB will be the executive team that has run CAB for the past 12 years, during which time cable ad revenues have grown by 80%. Sean Cunningham will be President & CEO; Chuck Thompson, EVP; Danielle DeLauro, SVP/Strategic Sales Insights. Together they will give advertisers one source for the best research, insight and perspective on video advertising. Importantly, this will include new primary research on the impact of TV advertising.
“We congratulate the CAB and the broadcast community as they converge to become the VAB,” said Bob Liodice, president of the Association of National Advertisers. “Multi-screen TV content is among marketers’ most important assets. The creation and evolution of the VAB will further marketers’ sophistication, insights and understanding of these assets as they seek to improve their marketing and media management and more successfully build their brands and business results.”
Support voiced across the industry
Leaders across the TV business – from network and MVPD executives to the chairman of the 4As – chimed their support for the VAB.
- Bill Koenigsberg, President, CEO and Founder, Horizon Media, and Chairman of the 4As: “We are living in a fully integrated video agnostic world between cable and broadcast where premium content is the gold standard. By creating the advertising bureau for broadcast and cable programmers, the ecosystem will be united in driving key KPIs for the benefit of consumers and marketers. Bravo!”
- Geri Wang, President, ABC Sales: “It’s terrific to see multi-platform broadcast and cable programmers coming together to address the issues that are top-of-mind with marketers. As viewer choices increase, it’s vitally important for us to showcase the engagement and business-driving capability of long-form, premium content.”
- Toby Byrne, President, Advertising Sales, Fox Networks Group: “Our media companies are committed to premium programming and the power it has to drive consumer behavior. On TV and across platforms, we deliver high engagement, impact and value for our advertising partners and the VAB will be a great vehicle to champion our premium content environment.”
- Rob Tuck, Executive Vice President, National Sales, The CW Network: “We’re looking forward to uniting with the VAB and all of the members, especially at such a critical time in our business. As the industry rapidly evolves, all of us premium content providers on broadcast and cable must work together to reinforce the value of our high quality programming and its benefits to the advertising community across all of the different platforms it’s now viewed – from on-air to online to on demand. The valuable research and insight the VAB can provide will help establish benchmarks for advertising effectiveness and consumer usage for individual media and across media.”
- Hank Oster, Chief Operating Officer & SVP of Comcast Spotlight: “Americans’ viewing habits are evolving at a breakneck pace. We have strategically realigned our association and the $66 billion in advertising revenue that it represents against the premium high-quality video, data-driven, multi-screen reality of our business.”
- David F. Poltrack, Chief Research Officer, CBS Corporation and President, CBS Vision: “Television advertising works. We now have the research and analytical tools to document for advertisers just how well it works and to enable them to utilize it to its fullest potential. By pooling the resources of the key providers of television advertising, we will be able to demonstrate the true effectiveness of the medium for the full array of marketers.”
- Steve Gigliotti, Chief Revenue Officer, Scripps Networks Interactive: “Over the past few years, consumers of all ages have enjoyed what I believe to the very best programming era in the history of television. Commercial advertising has been a key component in enabling that incredible array of factual and non-factual program options. By bringing the biggest programming providers together with the leading distribution platforms, the Video Advertising Bureau can help ensure that consumers continue to benefit from high quality and eclectic content for many years to come.”
- Ed Erhardt, President, ESPN Global Sales and Marketing: “The quality and scale of premium multiscreen television content sets it apart from other video options. The opportunity for the VAB to amplify the value of these brands and programs to the ad community will help clients make smarter investments to rise above the clutter and drive their businesses.”
- Sean Cunningham, President & CEO of the VAB: “More than ever, consumers are tuning in to premium, multiscreen TV content – at a moment’s notice, at arm’s-length, on the best available screen. Advertisers instinctively know this world-class video initiates the sales cycle. The VAB will lead the charge to prove it.”
About the VAB
The Video Advertising Bureau is an advocacy group dedicated to providing advertisers and their agencies with the most current, complete and actionable media insights on the expanding world of premium, multiscreen TV content. The VAB member companies include A&E Networks, AMC Networks, AT&T AdWorks, Bright House Networks, Cable One, Cablevision, CBS Corporation, Comcast, Charter Communications, Cox Communications, Discovery Communications, FOX Networks, Mediacom, NBCUniversal, Scripps Networks, Suddenlink Communications, Time Warner Cable, Tribune Media, Turner Networks, Verizon FiOS, Viacom, Viamedia, and Walt Disney Co.
via BusinessWire
