TIP Initiative Implements First API for Streamlining Local Broadcast Television Advertising Transactions
NEW YORK--(BUSINESS WIRE)--Feb 6, 2019--TIP Initiative (Television Interface Practices), an industry work group dedicated to promoting open interfaces to streamline advertising transactions for local TV broadcasters and their media agency partners, today announced the first Logtimes interface has been implemented by several system providers including Hudson MX, Imagine Communications, Premium Media 360 and WideOrbit. The interface enables TV stations to automatically report local spot airing times directly to agency buying partner systems for analysis and reconciliation.
The TIP Initiative also announced NBCUniversal Owned Television Stations division (NBC and Telemundo Owned Stations) has joined its consortium of local television broadcasters that already includes Hearst Television, Nexstar Media Group, Gray Television, Sinclair Broadcast Group, TEGNA, and Tribune Media.
“We are pleased to join the TIP Initiative and support the consortium’s efforts to create a framework that provides an opportunity to streamline transactions and increase automation for our media agency partners,” said Frank Comerford, Chief Revenue Officer, NBCUniversal Owned Television Stations.
On behalf of the TIP broadcast members, Brett Jenkins, CTO of Nexstar Media Group added, “Working with systems providers to implement modern, standards-based transaction interfaces will facilitate marketplace efficiency and integrity, while creating new revenue opportunities for local television broadcasters.”
The goal of the TIP Initiative is to attract more ad budgets to local broadcast TV stations by making it easier, faster, more accurate and transparent for media agencies to fulfill local campaign goals for clients. This year, TIP will focus on engaging additional systems providers, media agencies and broadcasters to broaden overall participation and expand the portfolio of interfaces to include inventory avails, proposals, makegoods and commercial instructions.
Bruce Roberts, President of WideOrbit commented, “TIP’s work to define technology standards for the industry enables us to introduce innovative new solutions for streamlining transaction workflows, including the recent release of Airtimes Reporting through the WO Programmatic Seller Console. We look forward to further collaborations with TIP and its technology partners in 2019.”
John Bowser, CEO of Premium Media 360 added, “Premium Media 360 is pleased to support the broadcast industry by utilizing the TIP APIs to send spot times to our advertising agency partners. By connecting and combining transactional data shared between broadcasters and agencies, we are creating new efficiencies, reducing revenue leakage and shortening payment cycles.”
Imagine Communications’ Dave Villano, CTO of AdTech stated, “Eliminating the complexity of the selling process for local TV helps our customers grow revenue. Imagine Communications is excited to be part of TIP and we look forward to streamlining the exchange of transactional information.”
TVB, the trade association representing local broadcast television, continues to provide a repository for TIP’s work and offers open access for industry partners to the API framework. The consortium’s newest TIP Initiative Framework version 3.1, and draft API security guidelines is available for comment at www.tvb.org/TIP.
TVB is the not-for-profit trade association representing America’s $21 billion local broadcast television industry. Its members include over 800 individual television stations, television broadcast groups, advertising sales reps, syndicators, international broadcasters and associate members.
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CONTACT: Media Contacts
Nexstar Media Group, Inc.
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: ENTERTAINMENT TV AND RADIO TECHNOLOGY AUDIO/VIDEO OTHER TECHNOLOGY GENERAL ENTERTAINMENT COMMUNICATIONS ADVERTISING MARKETING OTHER COMMUNICATIONS
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PUB: 02/06/2019 01:08 PM/DISC: 02/06/2019 01:08 PM