Mike Shields is the former advertising editor for Business Insider and CEO of Shields Strategic Consulting.
He argues that the TV ad industry is desperate to retain its relevance, focusing on data-driven targeting like its digital media peers.TV ads have taken a hit as sports and top shows have been delayed or halted production during the pandemic, while TikTok, Snap, and YouTube, poised to be perfect avenues for brands and break into television, have growing, younger audiences.
The industry's one saving grace is its legacy — the idea that only traditional television is worthy of TV ads and TV money, he says.The TV ad industry is desperately trying to retain its relevance by co-opting some of digital media's most attractive attributes — data-driven targeting, along with speed and agility.
But given how fast advertisers have shifted strategies during the COVID-19 pandemic toward more trackable, flexible media options, you have to wonder: Is television advertising too slow for its own good, and in danger of being left behind?. That's understandable, given that sports were being canceled or delayed and many top shows had to halt production. Not to mention the fact that given the broad uncertainty in the economy, many brands weren't in the commitment mood.
to better measure addressable TV ads, with hopes to bring what is typically a local/cable tactic to national TV — eventually somehow. This has been a slow developing market for what seems like a decade or more of false starts. . It's growing, but consider that TV advertising overall captures $70 billion annually, you'd think things would be moving a lot faster.