In an engaging Legends & Leadership conversation, Jack Myers and Michael Strober, Chief Revenue Officer of Nexstar Media Group, discussed the transformative journey of the media industry and Strober’s dynamic career and influences. Strober, who joined Nexstar in 2023 after several years of consulting with Nexstar management, provides a wealth of experience from his time at Turner Broadcasting, as an entrepreneur, and as a consultant, making him well-suited to lead advertising sales for Nexstar’s expansive and diverse media assets. (View the full Legends & Leadership conversation with Michael Strober above or here.)
Interactive TV to Addressable TV: A Long-Awaited Evolution
Myers and Strober reflected on their shared history, particularly the early days of interactive television in 2000. Strober noted that while the industry had high hopes for interactive TV, it was only in recent years, with advancements in technology, that the vision of truly engaging, one-to-one consumer experiences began to materialize through advanced TV. At Nexstar, this capability is now a critical part of their strategy, especially as they leverage their vast network of over 200 TV stations, reaching 68% of the U.S. population. Strober emphasized that the lines between local and national markets are increasingly blurred, particularly in digital, where targeted advertising allows for precise audience engagement.
The Unique Position of Nexstar Media Group
Despite the industry’s intense focus on streaming, AI, and digital media, Strober highlighted the unique strengths of Nexstar as the largest broadcast station group in the U.S. Nexstar’s local reach and deep community connections provide an unparalleled advantage. Strober pointed out that while national brands are drawn to streaming services, local advertisers, such as auto dealers and restaurants, deeply understand the value of connecting with their communities through local television -- a space where Nexstar excels. Bringing the power of community connection to national advertisers is what Nexstar is uniquely positioned to offer on an unparalleled scale.
NewsNation and the Future of Broadcast News
The conversation turned to NewsNation, Nexstar’s 24-hour cable news network, which has quickly grown in prominence. Strober acknowledged that while NewsNation is still relatively new, its commitment to unbiased, comprehensive news coverage is starting to resonate. A recent study conducted by the broadcaster reinforced that their viewers are looking for three key things from a “new” news source – unbiased coverage, multiple perspectives, and better facts. With over 5,000 journalists nationwide, Nexstar’s local connections also allow NewsNation to be first on the scene in crucial news events, reinforcing its potential to compete with established networks like CNN, MSNBC, and Fox News.
A Storied Career and Entrepreneurial Spirit
Strober shared insights into his career journey, starting on the agency side as a media planner working on the Mattel account, moving to Cartoon Network, and eventually rising through the ranks at Turner. His entrepreneurial spirit, evident in his early attempts to market toys and his involvement in startups like DataFuelX, continues to drive his approach to media. Strober also discussed his venture into the food industry, co-founding the Flourish Bread company in partnership with former Turner colleague Frank Sgrizzi. This entrepreneurial mindset has been instrumental in his ability to navigate the complexities of Nexstar’s diverse assets and build a cohesive, forward-thinking ad sales organization.
Integrating Diverse Media Assets Under One Umbrella
At Nexstar, Strober has been tasked with the complex job of unifying various media properties under a single sales strategy. This includes bringing together four separate national network teams, each with its systems and sales approaches, under one leader.
Additionally, Nexstar has moved to bring national spot sales in-house, a decision that reflects the company’s growing scale and ambition. Strober acknowledged the challenges but emphasized the importance of presenting a unified view to agencies, offering comprehensive solutions that span national, digital, social, and local media.
Navigating the Complexities of Measurement and Programmatic Advertising
In discussing the industry’s shift toward programmatic advertising and the complexities of multiple currencies in media buying, Strober outlined Nexstar’s commitment to advancing cross-platform measurement. By partnering with companies like Comscore, VideoAmp, and Nielsen, Nexstar aims to develop a single measurement source that can capture the total audience across local, national, linear, and digital platforms. Strober emphasized the importance of this approach in delivering value to advertisers, particularly in a fragmented media landscape.
The CW’s Strategic Transformation
The conversation also touched on the CW, which Nexstar acquired and is transforming into a true broadcast network. Under the leadership of Dennis Miller, the CW has broadened its appeal by adding sports programming, including Liv Golf, ACC college football, NASCAR’s Xfinity Series, and WWE NXT. Strober highlighted that while other networks are retreating from linear TV in favor of streaming, Nexstar is doubling down on the value of broadcast, believing in its continued relevance for delivering large, simultaneous, engaged audiences.
The Importance of Brand Safety in News
Strober passionately discussed the importance of brand safety, particularly in news programming, where Nexstar has taken significant steps to ensure a balanced and secure environment for advertisers. Partnering with The Trade Desk and Ad Fontes, Nexstar is creating a marketplace that allows brands to purchase media in a controlled, brand-safe environment, particularly around news content. Strober underscored the importance of supporting journalism and a free press, especially in an era of misinformation and AI-generated content.
Mentorship and the Future of Media
Reflecting on his career, Strober expressed gratitude for the mentors who have guided him, including Sgrizzi, David Levy, Linda Yaccarino, and Perry Sook. As he looks to the future, Strober is committed to mentoring the next generation of media professionals, recognizing that the media landscape they will navigate will be vastly different from the one he entered. Through guest lecturing and mentorship programs, Strober is helping young professionals, particularly those from diverse backgrounds, find their place in the rapidly evolving media industry.
Michael Strober’s conversation with Jack Myers offers a comprehensive look at the challenges and opportunities in today’s media landscape. From leveraging Nexstar’s unique local reach to navigating the complexities of modern media buying, Strober’s insights reflect a deep understanding of the industry’s past, present, and future. His entrepreneurial spirit, coupled with a commitment to innovation and mentorship, positions him as a key leader in the ongoing evolution of media.