A Call to Arms for TV Sales Executives: Seize Your Future

The television advertising economy is experiencing a downturn for the first time in more than a decade, for the first time ever during a robust general economy. The ongoing SAG/AFTRA/WGA strike has unleashed economic repercussions that are only beginning to surface. The decline in linear TV viewing is accelerating at an alarming rate. Disney and Charter are engaging in a stand-off that may redefine content distribution across the video ecosystem. TV sports are on the verge of significant challenges and changes. The increasing reliance on programmatic media buying is further commoditizing the industry, while the growth of retail media and e-commerce is collapsing the purchase-decision funnel and exerting tremendous pressure on legacy media outlets.

In 1993, I foresaw what I termed the 'Great Internet Upheaval.' The pandemic expedited trends already in motion, making 2021 the inception of a new 30-year cycle that necessitates accelerated shifts in revenue strategies for the television industry. A decade ago, Facebook embarked on a journey to construct a walled garden, disintermediate advertisers from their agencies and assert dominance over television advertising. Today, they have triumphed by targeting promotional budgets, propelling sales for small to medium-sized businesses and persuading large global marketers of the irrelevance of message content.

Yet, in the face of adversity lies opportunity. Today, Facebook is not alone in its quest to target television budgets. They are joined by a legion of formidable players, including YouTube, Walmart Media, Kroger, Amazon and a host of others who view television as their primary competition, rather than each other. This presents a unique conundrum: competing with each other for a share in a diminishing market is a losing battle. True attribution validation remains a hopeful yet distant aspiration. While targeted audience reach is undoubtedly important, it is superseded by trusted partnerships, brand safety, advanced analytics and privacy compliance.

In 1996, I sounded the alarm on the trend toward pricing commoditization, driven by efficiency and automated programmatic technology. Today, TV executives find themselves at a pivotal juncture, tasked with defining the future of advertising and television's role in it for at least the next three decades. The shift away from content brand equity in advertising sales is in stark contrast to the trends in consumer marketing of TV brands. A myriad of OTT platforms are selling their premium content value to consumers. Meanwhile, sales organizations are selling impressions and cost efficiency to advertisers and agencies, thereby diminishing their competitive strengths.

As we stand looking at decades ahead of further transformation, it's also crucial to acknowledge the nascent yet burgeoning field of generative AI. While still in its infancy, this technology is poised to compound the next thirty years of tumultuous upheaval. The past three decades of disruption were propelled by technological advancements in content distribution. The next thirty years will be dominated by AI technologies that exert a profound impact on content creation.

Generative AI, with its ability to both create new content from scratch and remold existing content, will revolutionize the way we conceive, produce, market and monetize content. This transformation will not only affect the advertising and media industries but will also have far-reaching implications across various sectors. As AI becomes increasingly sophisticated, it will challenge our traditional notions of creativity and authorship, raising pertinent questions about originality, copyright and ethical considerations.

As industry leaders, we must proactively engage with these challenges, embrace the transformative potential of generative AI and strategically position ourselves to harness its power for positive impact. This will entail a fundamental rethinking of our approaches to content creation, a commitment to ethical practices and a willingness to collaborate with AI as a creative partner. Moreover, it will necessitate a comprehensive understanding of the underlying technologies and a continuous investment in research, development and education.

The increasing complexities of the television business combined with the advent of generative AI present both an immense opportunity and a significant challenge. As we approach these next thirty years of transformative upheaval, it's imperative that we rethink organizations with a strategic, ethical and innovative mindset. Only then can we unlock its full potential, foster a new era of creativity and secure a prosperous future for the media and advertising industries.

The need for a paradigm shift is urgent. I implore you to emphasize a new set of sales and research priorities and elevate the industry's focus beyond data analytics to strategic analytics. Today's realities already necessitate a re-prioritization and reinvention of the advertising sales business.

MediaVillage has made a significant investment in becoming the premier educational resource for the marketing, advertising and media community. As a tech-enabled-managed-services enterprise, MediaVillage is committed to advancing media industry growth through education and diversity. Our content marketing and insights platform is underpinned by The Myers Report, which for four decades has been the North Star for advertising sales organizations as they've confronted the complexities of a multifaceted and daunting marketplace. MediaVillage has reinvented B2B communications by building an on-demand online educational marketplace anchored by a free Thought Leaders self-publishing platform and MeetingPrep.ai, an intelligent industry-specific vertical search and content recommendation engine.

AdvancingDiversity.org, built on over a decade of investment in diverse recruitment, retention and talent development tools, acknowledges the 'youthification' of the advertising community. Most TV industry advertising sales business models target senior decision-makers. Yet, the actual planning and buying are implemented by an increasingly diverse, younger community. Our research has identified the paramount need of these influencers and decision-makers for easily accessible, relevant and quick education to inform their media-related decisions. This insight led to our significant investment in MeetingPrep.ai.

It's imperative to heed the call to action, reevaluate strategies and reinvent sales organizations and marketing to navigate the future successfully. The journey ahead will undoubtedly be challenging, but with a renewed sense of purpose and a commitment to innovation, we can overcome the obstacles and create a brighter future for the industry. Is the TV industry up to the challenge? Are you reviewing your 2024 goals with redefined purpose, a respect for reality and is your organization looking forward with excitement or with trepidation?