New Scripps Political CTV Consortium delivers scale and efficiency for political advertisers

Rhea-AI Summary

A coalition of local broadcasters, led by The E.W. Scripps Company (NASDAQ: SSP), has launched the Scripps Political CTV Consortium to streamline political advertising on connected TV platforms. The initiative aims to facilitate access for agencies, enabling them to reach a significant portion of voters while managing campaigns efficiently. Experts forecast approximately $9 billion in political ad spending in 2022, with $1.8 billion directed towards CTV. Scripps collaborates with Magnite to provide programmatic access to premium advertising inventory, further enhancing market efficiency.

Positive

• The formation of the Scripps Political CTV Consortium enhances efficiency for political advertisers.
• The consortium is expected to facilitate access to billions of impressions across connected TV platforms.
• Projected political ad spending of $9 billion in 2022 presents substantial revenue opportunities for SSP.
• Collaboration with Magnite offers agencies a streamlined approach to CTV inventory.

Negative

• None.

CINCINNATI, April 5, 2022 /PRNewswire/ -- A group of local broadcasters led by The E.W. Scripps Company (NASDAQ: SSP) has come together to best serve political advertisers with efficient and broad audience reach on connected TV platforms during what's expected to be a record election-spending year. 

Cox Media Group, Capitol Broadcasting Company, Graham Media Group and other broadcasters are participating in the initiative.

"Collectively, we have a wall of inventory, and we've found a way to work together to make it easy for agencies to access that," said Samantha Osborne, senior director of national sales for the Scripps Political CTV Consortium in Washington, D.C. "They can reach a high percentage of voters while making their own decisions but without having to work through numerous sales reps from different organizations. With the broadcasters we've assembled, we have billions of monthly premium connected TV impressions available for political advertisers."

Experts project roughly $9 billion in spending in 2022, matching the presidential cycle of 2020, with as much as $1.8 billion of that expected to go to internet-delivered television platforms, or CTV.

In 10 states alone – Florida, California, Georgia, Pennsylvania, Arizona, Texas, North Carolina, Ohio, Wisconsin and Michigan – $3.9 billion is projected to be spent on political advertising.

The Scripps Political CTV Consortium allows agencies to work with one representative to reach multiple publishers who have premium, guaranteed owned-and-operated inventory. Osborne said Scripps is exclusively working with Magnite, the world's largest independent omnichannel sell-side advertising platform, to make CTV inventory available to agencies and programmatic buyers.

"Magnite is excited to be powering the technology for the Scripps Political CTV Consortium," said Mike Laband, senior vice president of CTV Platform for Magnite. "Working closely with Scripps and the consortium media owners, we are providing the market with a unique, scaled offering for political CTV ad investment."

Officials from participating organizations say that local news is where voters go to be informed during election seasons. Objective local broadcast journalism provides access to audiences that political advertisers are trying to reach.

"There are times when it makes sense to work together to produce a new and innovative product for the best interest of customers," said John Conway, vice president of WRAL Digital for Capitol Broadcasting. "This is one of those times when we can provide industry-leading service by collaborating."

About Scripps
The E.W. Scripps Company (NASDAQ: SSP) is a diversified media company focused on creating a better-informed world. As one of the nation's largest local TV broadcasters, Scripps serves communities with quality, objective local journalism and operates a portfolio of 61 stations in 41 markets. The Scripps Networks reach nearly every American through the national news outlets Court TV and Newsy and popular entertainment brands ION, Bounce, Defy TV, Grit, ION Mystery, Laff and TrueReal. Scripps is the nation's largest holder of broadcast spectrum. Scripps runs an award-winning investigative reporting newsroom in Washington, D.C., and is the longtime steward of the Scripps National Spelling Bee. Founded in 1878, Scripps has held for decades to the motto, "Give light and the people will find their own way."

 

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SOURCE The E.W. Scripps Company

FAQ

What is the Scripps Political CTV Consortium?

The Scripps Political CTV Consortium is an initiative led by The E.W. Scripps Company to streamline political advertising on connected TV platforms.

How much is expected to be spent on political advertising in 2022?

Experts project approximately $9 billion in political advertising spending in 2022.

What role does Magnite play in the Scripps consortium?

Magnite provides technology that allows agencies to access premium CTV inventory through the Scripps Political CTV Consortium.

Which states are projected to spend the most on political advertising?

Ten states, including Florida and California, are projected to spend around $3.9 billion on political advertising.

What advantages does the consortium offer to political advertisers?

The consortium simplifies access for advertisers to reach voters efficiently without managing multiple sales reps.