The IRTS Newsmakers Panel: The Importance (Or Not) of Data

Upfront 2016amp8220The Upfront has taken some interesting turns this yearamp8221 Myers began asking the panelists amp8220What do you see happeningamp8221Hiltz responded amp8220The Upfront is the social currency of our industry It doesn39t matter what platform or channel amp8230 we are platform agnostic when it comes to investment But the Upfront becomes the jump startamp8221amp8220The Upfront marketplace is irrelevant to what the overall market really isamp8221 Scanzoni countered amp8220Last year we saw Upfront market declines but this year we expect to see low to single digit growth There is change and disruption but the fundamentals of our business are not changingamp8221amp8220There is more of a shift from national TV into digitalamp8221 Benowitz noted amp8220We have been looking at digital holistically for a while as a way to reach consumersamp8221The Importance of Data and Closed Loop InitiativesIs data a game changer amp8220We are all talking about dataamp8221 Scanzoni said amp8220But there is nothing new about it Yes it is more sophisticated and there is more first and third party data But weamp8217ve used data in TV for many years We are doing it better it is more objective and reliable but there is no nirvana here using dataamp8221But data is being collected and leveraged in new ways amp8220The closed loop is newamp8221 Myers said amp8220There are closed loop initiatives from companies like NBCU Viacom and Turner Do they have scale and are they sustainableamp8221amp8220If I were a seller I would do exactly that but as a buyer I do not see the value in closed loopsamp8221 Scanzoni responded amp8220You have to have a consistent data set to apply to a full TV portfolio The correlations are different between Kantar and Nielsen for example They point you in different directions You need a consistent dataset and have to find a way to optimize across vendors Sellers have to work as a group but that is impossible because they have their own self interests Agencies need to choose data and do their own correlationsamp8221Automation vs Human RelationshipsProgrammatic continues to loom large over the industry amp160amp8220Programmatic has the ability to help decisionmaking over multiple media touch points which is greatamp8221 Williams said amp8220Investments become more efficient and it is a true value propositionamp8221But what about the balance between sales automation and the human relationships that are the cornerstone of our business amp160amp8220Relationships are important if not more important in the industry nowamp8221 Penski replied amp8220We have added people to our staff because to buy programmatically now requires even more people Keeping talent is a big challenge for us We are still a very human based industryamp8221amp8220It is not a matter of traditional versus programmaticamp8221 Benowitz added amp8220There is room for both We look at content engagement and watercooler talk But the ability to buy auto intenders is certainly where we should be headed It won39t go all one way or the other It still takes two people talking to hear the passion in their voices If we lose that we are in a different placeamp8221Looking AheadBetween the impact of data and programmatic on creative and consumers the industry continues to evolve and innovate Some final words of wisdom were offered by the panelamp8220Don39t be afraidamp8221 Benowitz advised amp8220There is a lot going on but there is room to do businessamp8221amp8220There is still a need for humans in our ecosystemamp8221 Penski said amp8220We must continue to work together and find ways to bring competitors together to work together It is not just about dataamp8221The opinions and points of view expressed in this commentary are exclusively the views of the author and do not necessarily represent the views of MediaVillagecomMyersBizNet management or associated bloggersamp160

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The IRTS Newsmakers Panel: The Importance (Or Not) of Data

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Charlene Weisler

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