TVOT Recap: COVID-19’s Impact on the Present (& Future) of TV Advertising
September 10, 2020
This week, TVOT hosted its first-ever virtual, interactive TV of Tomorrow Show, TVOT LIVE!, that included keynotes and panels tackling the latest in TV advertising, the streaming space and more. TVSquared’s President, Jo Kinsella, was a featured speaker on two panels. The first, “Whither Goest Thou, Television Advertising? (with Apologies to Jack Kerouac),” examined how COVID-19 has impacted the TV advertising industry.
Moderated by Rick Howe, The iTV Doctor, the panelists (in addition to Jo) included: Tal Chalozin (CTO at Innovid), Steve Reynolds (President at Imagine Communications), Scott Stansfield (Founder of Centriply), Evan Tracey (Founder of NMRPP) and Rob Weisbord (President, Local News and Marketing Services, at Sinclair Broadcast.
How should we adjust our strategies as the global pandemic continues to affect our businesses and personal lives? Can TV adapt to support an increasingly homebound (and virtual) economy, and what technology is needed to achieve this? The panelists addressed these questions and more. Here are some of the key takeaways:
With the 2020 U.S. presidential election fast approaching, political ad spending was a major topic among the panelists. Evan explained how, since COVID-19 has limited candidates’ ability to host in-person rallies, TV advertising has become more critical than ever to reach voters. He expects political spending to reach “record territory.” Scott added how important it is to think of all campaigns as local, including political, to ensure an advertiser is reaching the right, responsive individuals.
In terms of what the industry should prioritize, Rob stressed the importance of automation and a common currency. Meanwhile, Steve discussed the need to transform linear TV so it’s more focused on selling an audience and not necessarily a spot airing during a specific time or ad break. Tal explained how sophisticated marketers are increasingly wanting agility and to target a precise audience, and how they’re doubling down in the connected TV environment to achieve both.
Jo delved into the prominence of direct-to-consumer advertisers during COVID-19 and how the ROI conversation for TV has become more vital than ever; advertisers need to make sure every ad dollar counts, making proof of performance essential.