Abstract:
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This talk will discuss the revolution occurring in television advertising due to the use of Set Top Box data. Television has arguably been the most successful advertising medium in history, and yet even with the rise of the internet, has lost none of its revenue or appeal to advertisers. Indeed television content today is generally regarded as excellent, and many commentators have noted that we seem to be in a second golden age of television. Advertising revenues are at record highs also. Television spot prices have risen by about 5% per year and the industry continues to generate higher levels of inflation adjusted revenue. Why is this happening? Is it sustainable? How will it evolve in the future? We discuss several new technologies - rooted in big data statistics - which have emerged which we propose are having a profound impact on the industry, and in particular are opening up internet-like targeting. We also show data on national television prices, sizes and audience composition which support our contention that television is rapidly becoming an efficient, targeted, and relevant medium not unlike the internet.
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