Local TV Stations Told: Must Confront Digital Threat
New digital video distribution technologies pose a dire threat to local TV stations and owner/operators must move rapidly to protect their businesses, attendees at last week’s Television Bureau of Advertising Marketing Conference were told.
Beth Comstock, president for digital media and marketing development at NBC Universal, tells audience:
“this isn’t just about driving growth, it’s about staying in business.”
The challenge for all of us–really it’s the ultimate challenge–is how do we develop good content that’s going to be right for the right medium?
Let’s face it,” she said, “the opportunity is tremendous. Local advertising is a $94 billion dollar market. You’ve get about 30% of it. The local online market is a $3.4 billion dollar market and you get about 4%; this represents an $850 million opportunity for local television. That’s exciting. That’s real money.
