Even as digital and traditional media compete for advertising dollars, some traditions remain resilient. A good example is the ongoing Upfront negotiating season, which began in the last quarter of 2017, during which media buyers make long-term spending commitments.<\/p>\n

\u201cTime has proven that making the long-term bet is a good idea for both sides in the equation,\u201d says Chris Geraci, President, National Video Investment, OMD.<\/p>\n

Geraci was one of the featured speakers at last week\u2019s Beet Retreat in the City<\/a>, along with Ashley J. Swartz, CEO of Furious Corp.<\/a> In this video, they discuss the dynamics of the video marketplace and parse the semantics of what now constitutes \u201ctelevision.\u201d<\/p>\n

Geraci has seen lots of change since starting his advertising career in 1987 at BBDO New York. Yet amid a rapidly changing media landscape, the bedrock role of advertising hasn\u2019t changed all that much.<\/p>\n

\u201cWe support a crucial part of the entertainment industry by way of advertising dollars, that allows for production and better quality content to come forth if they can count on a longer term advertising commitment,\u201d he says.<\/p>\n

The economics of what is often referred to as a \u201cfutures market\u201d remain in place during the negotiations that typify the Upfront.<\/p>\n

\u201cFor the advertisers and agencies that service the advertisers, we know we\u2019re generally getting a better deal by working in the Upfront model,\u201d Geraci<\/a> says. \u201cIt\u2019s just more efficient from a cost-per-thousand basis, which is usually the metric that\u2019s being used. It\u2019s just a better deal in the Upfront.\u201d<\/p>\n

Asked by Swartz to describe the change he sees year to year, Geraci notes the increase in digital options available. \u201cI think the consideration set keeps widening. We now have definitely more online opportunities to interact with what we consider to be premium content. So the choices are broader.\u201d<\/p>\n

Given a \u201csolid economic backdrop,\u201d Geraci says that with consumer marketers \u201chaving decent results\u201d some are putting that money back into media. \u201cThere\u2019s a little bit more supply in some areas, including sports, perhaps a little less in some of the linear TV dayparts. So that\u2019s creating a little bit of pressure there.\u201d<\/p>\n

Asked by Swartz whether there remains a distinction between \u201ctelevision\u201d and \u201cvideo,\u201d Geraci says he believes it\u2019s all video right now.<\/p>\n

\u201cIn fact, we removed the TV designation from all of our job titles to prove that point publicly. Television is simply a physical device as a way to deliver what quality content and ad-supported content is what we transact in.\u201d<\/p>\n

OMD\u2019s clients have the same mindset, according to Geraci.<\/p>\n

\u201cFor the most part, they\u2019re in the same place,\u201d he says. \u201cI think it\u2019s been very helpful that a lot of the linear TV based companies have sort of morphed what they serve the consumer to be a multiplatform experience.\u201d<\/p>\n

This video was produced at the Beet Retreat in City & Town Hall<\/a> on June 6, 2018 in New York City. The event and video series are presented by LiveRamp, TiVo, true[X] and 605. For more videos from the series, please visit this page<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Even as digital and traditional media compete for advertising dollars, some traditions remain resilient. A good example is the ongoing Upfront negotiating season, which began in the last quarter of 2017, during which media buyers make long-term spending commitments. \u201cTime has proven that making the long-term bet is a good idea for both sides in […]<\/p>\n","protected":false},"author":17,"featured_media":53284,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"mc4wp_mailchimp_campaign":[]},"categories":[7289],"tags":[4511,5088,5092,5143,5883,6127,6730,7265,7296,3839],"_links":{"self":[{"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/posts\/53282"}],"collection":[{"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/comments?post=53282"}],"version-history":[{"count":0,"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/posts\/53282\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/media\/53284"}],"wp:attachment":[{"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/media?parent=53282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/categories?post=53282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/tags?post=53282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}