Gray to Provide Research and Consulting Services to CBS Owned and Operated Television Stations

Rhea-AI Summary

Gray Television, Inc. (GTN) announces a partnership with CBS for market research and news consulting services to all 14 CBS owned and operated television stations. The collaboration with Gray's in-house team, Strat Team, aims to enhance CBS's strategic planning and content development efforts.

Insights

Market Research Analyst

The new partnership between Gray Television and CBS for market research and consulting services is a strategic move that could potentially influence the competitive landscape of television broadcasting. By leveraging the Strat Team's expertise, CBS aims to enhance its market insights and strategic planning, which is essential in an industry where audience preferences and consumption patterns are constantly evolving.

From a market research perspective, the collaboration could lead to more targeted and effective content strategies for CBS's owned-and-operated stations. The ability to understand and anticipate viewer demands can drive advertising revenue and audience loyalty, two critical factors for the financial health of any broadcaster. Analyzing viewer data and engagement metrics will be key in crafting programming that resonates with audiences and outperforms competitors.

Furthermore, this partnership may signal a trend where broadcasters increasingly rely on specialized research teams to navigate the complexities of the digital age. The emphasis on data-driven storytelling and digital strategies reflects the industry's shift towards multi-platform content distribution and the need to monetize online viewership effectively.

Financial Analyst

Investors should monitor the financial implications of this partnership for Gray Television, as it represents a diversification of revenue streams beyond traditional advertising. The deal with CBS could provide Gray with a stable source of income from consulting services, potentially improving its financial robustness. It is also indicative of Gray's ability to scale its services beyond its own network, which may open up additional growth opportunities in the future.

However, it's important to consider the costs associated with expanding the Strat Team's capabilities and whether this investment will yield a significant return. Investors will be looking at the subsequent quarterly reports to gauge the impact of this partnership on Gray's bottom line. If successful, it could lead to similar deals with other networks, further strengthening Gray's market position.

While this deal is not likely to cause immediate fluctuations in the stock market, it is a development that long-term investors might view positively if it leads to sustained revenue growth and a stronger competitive edge for Gray Television.

ATLANTA, April 02, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray”) (NYSE: GTN) announced today that CBS has retained Gray’s in-house news research and consulting group, Strategic Insights & Activation Team (“Strat Team”), as a provider of market research and news consulting services to all 14 CBS owned and operated television stations.   The first-of-its-kind partnership began on April 1, 2024.

Gray created the Strat Team in January 2023 to provide an in-house, customized, and action-oriented news consulting team for all Gray markets.   After nearly 15 months and almost 100 research projects exclusively for Gray’s local newsrooms, the Strat Team has expanded its bandwidth to support several large-market television stations.   The Strat Team’s leadership previously consulted for CBS’s owned-and-operated stations (among other clients) prior to joining Gray.

“We’re thrilled to expand our relationship with CBS by providing their owned and operated stations with first-class news research and consulting,” Gray’s Chief Operating Officer Sandy Breland said.   “The Strat Team has exceeded every expectation for our content and marketing teams, and their expertise will be an impactful resource for CBS.”

“Partnering with Gray’s Strategic Insights & Activation Team supports our mission further to enhance our market insights and our overall strategic planning efforts across the company,” said Adrienne Roark, president of Content Development and Integration for CBS News and Stations and CBS Media Ventures.

“Their expertise will undoubtedly contribute to our continued success across our 14 CBS-owned stations in delivering high-quality news and content to match our audiences’ evolving viewing needs,” added Jennifer Mitchell, president of CBS Stations.

Gray’s Vice President of Research and Consulting Chris Archer and Gray’s Director of Research Tony Calfo lead the Strat Team.   The team’s consultants and analysts come from a diverse set of backgrounds, combining recent newsroom leadership and extensive experience in data-driven storytelling, digital, and marketing strategies.

About Gray:

Gray Television, Inc. is a multimedia company headquartered in Atlanta, Georgia. Gray is the nation’s largest owner of top-rated local television stations and digital assets.   Its television stations serve 114 television markets that collectively reach approximately 36 percent of US television households.   This portfolio includes 79 markets with the top-rated television station and 102 markets with the first and/or second highest rated television station. Gray also owns video program companies Raycom Sports, Tupelo Media Group, and PowerNation Studios, as well as the studio production facilities Assembly Atlanta and Third Rail Studios.   Gray owns a majority interest in Swirl Films. For more information, please visit www.gray.tv.

Gray Contact:

Sandy Breland, Executive Vice President, Chief Operating Officer, 404-266-8333

About CBS News and Stations   

CBS News and Stations brings together the power of CBS News, 28 owned television stations in 17 major U.S. markets, the CBS News Streaming Network, 14 CBS News Streaming local platforms, local websites, CBSNews.com, and CBS News Radio.

CBS News and Stations is home to the nation’s #1 news program, 60 MINUTES, the award-winning broadcasts CBS MORNINGS, CBS SATURDAY MORNING, the CBS EVENING NEWS WITH NORAH O’DONNELL, CBS NEWS SUNDAY MORNING, CBS WEEKEND NEWS, 48 HOURS and FACE THE NATION WITH MARGARET BRENNAN.

CBS News and Stations provides news and information for the CBS Television Network,  CBSNews.com, CBS News Radio and podcasts, Paramount +, all digital platforms, and the CBS News Streaming Network.

CBS News’ national and local streaming services amassed more than 1.24 billion streams in 2023. The CBS News Streaming Network is free on the internet, available on 30 platforms and apps, on CBSNews.com, Paramount+, and Pluto TV, and live in 91 countries. 

CBS News and Stations is dedicated to providing the highest quality journalism under standards it pioneered and continues to set today.

CBS Stations Media Contact:
Elita Fielder Adjei, VP Communications, CBS Stations (310) 740-0115
Elita.adjei@paramount.com

FAQ

What partnership did Gray Television, Inc. (GTN) announce recently?

Gray Television, Inc. (GTN) announced a partnership with CBS for market research and news consulting services to all 14 CBS owned and operated television stations.

When did the partnership between Gray Television, Inc. (GTN) and CBS begin?

The partnership between Gray Television, Inc. (GTN) and CBS began on April 1, 2024.

Who leads Gray's in-house news research and consulting group, Strat Team?

Gray's Vice President of Research and Consulting Chris Archer and Gray's Director of Research Tony Calfo lead the Strat Team.

What is the purpose of the partnership between Gray Television, Inc. (GTN) and CBS?

The partnership aims to provide market research and news consulting services to enhance CBS's strategic planning and content development efforts.