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Aba
Advanced advertising eatures in the trade press, articles, marketing papers, and conerences with
increasing regularity. The phrase oten is used so casually, and put orth with the underlying assumption
that the audience has a thorough understanding o what is meant by the term. However, dierent
media organizations, vendors, and media buyers all have dierent perceptions. This white paper covers
the landscape o advertising techniques and technologies, paying specic attention to contextualizing
advanced advertising in terms o the inrastructure required to realize it, and the economics o potential
customer reach. By ensuring that the interests o the ad buyer, seller, and consumer are balanced with the
cost o deployment, the undamental elements o a successul business model are presented.
The new economics o
cusTomer reach:AdvAnced Advertising
Taras Bugir, Sun Microsystems
White Paper
April 2009
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Sun Microsystems, Inc.
Tbl ctt
Executive summary ............................................................................................. 1
The disruptive orce o the Internet Protocol .........................................................1
Implications o multiscreen marketing ............................................................. 2
Dening the edge o infuence .........................................................................3
Target economics ................................................................................................ 4
New behaviors, new business models ............................................................... 5
Who or what is the target? ..............................................................................7
Target pricing and value ..................................................................................8
Mediums and their inrastructures ..................................................................... 10
TV-centric advertising .................................................................................... 12
Client-centric advertising ............................................................................... 12
Webication ................................................................................................. 12
Conclusion ....................................................................................................... 13
appdx a. stt t idty ov t Lt 90 Dy ................................... 14
For more inormation ........................................................................................ 23
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Sun Microsystems, Inc.1 The New Economics o Customer Reach: Advanced Advertising
In spite o all the talk
about narrowcasting
and targeted, specialized
content, there willalways be a role or
broadcasting.
extv y
Recently, the term advanced advertising has slipped into the industry vernacular,
becoming an euphemism or targeted advertising. It seems to be trying to mask
the very personal, perhaps intrusive, nature o personalized advertising. The term
attempts to portray a sophisticated, more user riendly, less threatening, high-tech
way o marketing and selling. This white paper uses the term targeted advertising,
not or any philosophical reason, but more or its descriptive nature. The media
business is undamentally all about marketing. Marketing is about dening and
targeting the right audience or the productplain and simple. There is no need or
any window dressing, however well intentioned.
All advertising is not created equally, and neither is the technology required to
deploy it. This is especially true o targeted advertising. Organizations ocused on
delivering content to the consumer understand that knowing their audience(s) and
building a relationship with them is the key to increasing revenue, regardless o
whether their revenues are undamentally subscription- or advertising-based. This
translates to targeting at one level or another.
It is commonly accepted in the marketing world that better, narrower targeting
is an absolute good, i not the holy grail o advertising. Yet, in spite o all the talk
about narrowcasting and targeted specialized content, there will always be a role or
broadcasting. The reasoning is very simple and intuitive. I everyone sells to targeted
audiences, how would anyone cross-promote? Where would one nd new customers
or those targeted products and services? True marketers understand that to create
awareness, a mix o media is essential. However, even broadcasters target. So what
does targeting really mean?
I one has a clear understanding o targeted advertising, then the real problem
becomes one o execution. Eective execution results in building an inrastructure
that supports a healthy marketing mix, aggregating the right audience, driving
economic value, and accurately delivering correctly ormatted content.
T dptv t itt Ptl
When an industry is undergoing substantial change, market leaders hoping to thrive
must adapt their business models to the new industrys realities. As simple as that
may sound, most organizations are not fexible enough to meet such challenges.
This is borne out historically, by the rise o new players as industries change.1
In the current landscape, the ability or a media organization to aggregate an
audience is becoming an increasingly Quixotian2 task. As channels, mediums, and
entertainment opportunities prolierate, audience ragmentation disproportionately
accelerates, exacerbated by the technology variants in the consumers arsenal o
1 Jumpstarting Innovation: Using Disruption to Your Advantage, Lynda M. Applegate, Harvard Business School,September 4, 2007.
2 Alonso Quixana is an older gentleman who lives in La Mancha, in the Spanish countryside. He has read many o thebooks o chivalry and as a result, he has lost his wits, and he decides to roam the country as a knight-errant namedDon Quixote de La Mancha. Quixote gets involved in several altercations and violent disputes while traveling on theroad and even attacks a windmill, believing it to be a giant, destroying his lance in the process.
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Sun Microsystems, Inc.2 The New Economics o Customer Reach: Advanced Advertising
IP-based networkinga
standard, seamless way
to plug into the worldis driving behavioral
changes and is the
disruptive orce behind
the media industry.
gadgetry. The consumer is increasingly dividing time across home media networks
comprised o gaming consoles, personal computers, digital cameras, MP3 players,
DVD players and recorders, and media hub hardware in addition to traditional TV.
All o these devices are becoming Internet Protocol (IP)-enabled and networked
to the world at large. As they do, bits spill out, leaving a crumb trail leading back
to the consumer. This trail refects a decreasing span o attentiveness3, with a
correspondingly increased craving or the latest digital morsel recommended by their
social network peers.
The key here is that all o these consumer devices are now IP-enabled. This drives
networking o devices, people, and content. People with devices, devices with
devices, people with people, and both devices and people with content.
IP-based networkinga standard, seamless way to plug into the worldis driving
behavioral changes and is the disruptive orce behind the media industry. The
natural consequence o this technology and behavioral change is that ads can be
placed in the delivery channel ar closer to the consumer more cost-eectively4 than
ever beore. Further, over 70% o the world is not yet connected5. Imagine what it
will be like as greater than 30% o the world comes on board.
iplt lt ktg
As consumers spend time with a greater number o devices, a ew challenges
emerge:
How do we measure consumer activity? Ater all, in order to market to them, we
need to know where they are congregating, when they go there, and how longthey stay.
Is it the same consumer? Some devices are more personal than others, and those
less personal devices may not be the subject o the consumers attention at that
moment.
Is the consumers interactivity with the device a true measure o interest at a
given point in time? Perhaps the content is generating misleading responses.
As the consumer interacts with more devices, these tracking and aggregation issues
become commensurately more dicult. Correspondingly, the ewer devices that a
service provider can service, the more audience timeand thereore attentionis
lost, as are the opportunities or driving advertising revenue.
Until we see a trading mechanism o user proles emerge, targeting is not
synonymous with unique personalized advertising. The dream o one-to-one
marketing is really one-to-group marketing, where the consumer belongs to many
3 The Paradox o Choice: Why More is Less, Barry Schwartz, HarperCollins, 2004, ISBN 0-06- 000568-8.4 A Platorm-Based Approach to Managing the Media Supply Chain, Taras Bugir, John Delay & Ben Peake, IBC
Amsterdam, September 11, 2006.5 Here Comes Trouble: The Human Network, Daniel Berninger, www.GigaOM.com , January 8, 2008.
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Sun Microsystems, Inc.3 The New Economics o Customer Reach: Advanced Advertising
The Edge o Inuenceis the fnal insertion
point to target rom an
audience perspective.
such groups. It just so happens that those groups are narrower than the broad
demographics that have supported the industry or many years. They are more akin
to direct marketing with immediate measurable eedback.
Multiscreen marketing should be viewed more as an audience aggregation and
less as a targeting exercise. The aggregation approach drives recommendations o
context-appropriate content to the target group. The individual is targeted as a result
o group behavior. While it creates the illusion o uniquely targeted advertising, it is
ar less complex and more cost-eective to deliver:
A ocus on groups, with ewer unique ad insertion models to manage individually
Less variation o content to produce, manage, and splice
Consumers that belong to several groups and attract ads, rather than explicit,
individual targeting
Privacy issues that can be more easily respected
Dg t dg f
I the value o targeted advertising increases as we get closer to the consumer,
then we must dene the intersection point o consumer-device-content interaction.
I dene6 this as the Edge, refecting the edge o network infuence over that
unique consumer or consumer group. Figure 1 illustrates a model o video content
distribution rom a central network owners perspective, and how that initial unique
content source encounters variants in the geographical distribution across the U.S.
marketplace. As well, global variants on this model are in play in international
media markets.
Depending upon where you dene the Edge o Inuencethe nal insertion point
to target rom an audience perspectiveit becomes quite apparent, even or this
simplistic hybrid model o distribution platorms and population, that the number o
unique targeting opportunities grows quite quickly. More importantly, this creates
another set o considerations:
What is the target? It may in act be dierent at each level, and there well may be
dierent organizations at each level targeting a dierent audience with the same
content.
What is the cost to provide an inrastructure to insert advertising at each level? It
may be grossly uneconomical or a network-ocused organization to do the actual
insertion at each level, particularly i the revenue at each level decreases with
audience size.
The number o unique ad or content schedules utilizing current workfow
technologies and practices required to deliver targeted ads is not scalable below
the zone level.
6 Advertising, Exploiting the Power o IP, Taras Bugir, IPTV Asia-Pac Forum Shanghai, September 2006.
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Sun Microsystems, Inc.4 The New Economics o Customer Reach: Advanced Advertising
It is clear that with a Web- or client-centric model it is easier to aggregate up, than it
is or a traditional network distribution model to dissect down.
The Edge o Infuence needs to be dened with the ollowing in mindbalancing the
audience size, the value o that audience, and the transactional cost o delivering
to that resultant target audience. However, i new automated techniques or ad
insertion and content delivery were to be enabled, then the transaction cost could
be dramatically lowered. As such, the impediment to having an Edge o Infuence at
the consumers device would not be quite so onerous. This can only be eectively
done with a device- and medium-agnostic IP inrastructure.
Network
DMA nDMA 1
Zone nZone 1
Zip+4 nZip+4 1
HH/STB nHH/STB 1
Individual nIndividual 1
Unique Addressable Ads
Unlikely any existing traditional Ad Sales
System could cost effectively generate and
deploy schedules for a large ad insertion
deployment below this line - need a
different approach
1
1
2
1
3
3
2
1
210
42,000+
111,400,000
302,654,075
Nielson Researrch, Aug. 2006
US Postal Service, Mar. 2006
US Postal Service, Aug. 2007
TV Model
Web Model
i
p+4 1
Zip 1
n
Zi
n
p+4
Zip n
Figure 1. Searching or the network Edge o Inuence
Tgt
The ollowing quotes rom advertising agencies shed light on the consumers value
attributes and agency approaches to garnering that value or their clients: the
advertisers.
The dierence is that building brands today requires a keen understanding
o how new communications technology, new channels, vibrant creativity and
insightul consumer research combine. www.ogilvy.com
We believe that time is the new currency. The more people who spend time with
a brand the better. www.jwt.com
The prolieration and infuence on communication channels is the most dynamic
variable in driving consumer change. www.universalmccann.com
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Sun Microsystems, Inc.5 The New Economics o Customer Reach: Advanced Advertising
The undamental
takeaway is that
targeting is becomingthe normal way o
advertising.
It turns out that the three most valuable items that a consumer has to trade or
content are:
Privacythe extent to which theyll trade their personal inormation
Moneyhow much theyll pay or a service
Timethe amount o their personal time they are willing to invest in a service
All media business models are derivatives o these three currencies. Targeting
enables the precise measurement and relative valuation o each o these currencies
in order to optimize the bundled value to the advertiser.
The undamental takeaway is that targeting is becoming the normal way o
advertising.
As audiences become increasingly ragmented, that ragmentation naturally
creates more target audiences. As a result o this ragmentation, more inventory
is created. However, not all o that inventory will be o a perceived high quality.
In order to derive value rom advertising, these audiences need to be more
accurately aggregated and valued.
Advertisers will increasingly aggregate audiences, rather than dissecting them
We are moving rom a multicasting world to an aggregate o unicast consumers.
n bv, b dl
Changes in viewing habits and technology are clearly aecting the way businesses
are marketing and advertising products. A quick review o the last 90 days providesample qualitative and quantitative data to support this claim. (See Appendix A.)
Change is accelerating, and the media market is converging across mediums and
distribution verticals. Advertisers are looking or new ways to market products and
services through branding techniques that include audience aggregation vehicles.
Five years ago, Larry Light, McDonalds chie marketing ocer, stated at
AdWatch:Outlook 20047, We dont need one big execution o a big idea. We
need one big idea that can be used in a multidimensional, multilayered and
multiaceted way. While he may not have been specically talking about audience
ragmentation, the point is still insightul and relevant to todays marketplace.
Years ago it was important enough, and cost-eective, to hire one person to manage
the ads in a particular program reel. Their job was to ensure that each expensive
ad got to air, no matter what happened. Today, marketing it is not about one big
expensive ad, but about many cheaper ads, which in aggregate garner the same
audience and hopeully at least as much revenue as that single expensive ad o long
ago.
7 AdWatch: Outlook 2004 is the third annual conerence hosted by Advertising Age and TNS Media Intelligence/CMRthat eatures the exclusive release o rst hal and ull year advertising spending estimates. Key buyers, sellers,agency representatives, and analysts participate in panel discussions throughout the conerence ocusing on themedia industrys most pressing issues, including market turnaround, ROI, and the uture o advertising, marketing,
and media.
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Sun Microsystems, Inc.6 The New Economics o Customer Reach: Advanced Advertising
The only way to
automate eectively
across mediums isto have a common
inrastructure.
The average cost o the transaction has been lowered over the years due to
automation. Correspondingly, the economics o advertising have changed as a result
o technology. Pushing to the Edge o Infuence leads to the ollowing:
I you cannot place the ad, instruct it, and manage the content cheaply and
eectively, then your margin erodes (Figure 2).
Organizations have consolidated in the hope o getting larger audiences and
inventories. As a result, they must handle more diverse ads. Unortunately, they
have inherited cost structures during these acquisitions that are not conducive
to delivering a multimedia campaignthe very reason or acquisition in the rst
place. The only way to drive eciencies is to automate.
The only way to automate eectively across mediums is to have a common
inrastructure. You cannot have dierent workfows or dierent mediums in a
consolidated business. It costs too much.
To achieve a common inrastructure, you need:
Open, scalable platorms to accommodate constant change at an aordable price.
These platorms must be able to coexist with the current inrastructure until such
time as it is eectively amortized.
Accurate, scalable processes that leverage metadata to drive rules. Sotware is
needed to interpret those rules that help produce, distribute, and track content
usage to control the inevitable prolieration o content.
A common industry language to transact common media currencies. The
language must be tied to content management, consumer behavior, ad
awareness, brand vitality, and sales and prots.
Ad Booking Ad Content
Medium (SP)
Consumer
The revenue is generally booked
as the order or contract is placed,
because the inventory is consumed
It costs money to manage that content
in getting it from the point of creation
to the SP, and then it costs the SP to
manage and move that content to the
right insertion point in the workflow
Not only does it cost money, people, and
processes to track the instructions, if the
content usage instructions are not followed,
then the SP can lose money, because the
ad contract was not fulfilled correctly
Ad Instruction
$ ($) ($)
Figure 2. What is an ad, and what does it cost to deliver it?
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Sun Microsystems, Inc.7 The New Economics o Customer Reach: Advanced Advertising
The realization that
sales organizations and
research departmentsmust evolve concurrently
with multimedia content
delivery models is
increasingly coming to
the ore.
Until now, the industry has largely ocused on technically solving the inrastructure
problems that have emerged as a result o the digital transition and audience
expectations. A quick look at NAB or IBC conerence topics conrms this reality.
The realization that sales organizations and research departments must evolve
concurrently with multimedia content delivery models is increasingly coming to
the ore. These organizational disciplines must consider targeted marketing, ROI
measurement, advertainment strategies, interactive television, pay-or-play, and
the eects o device prolieration on consumers. More than ever, service providers
must engage in marketing and promotion o their own capabilities, with their own
inventories, more than ever beore in a bid to retain audiences.
Organizations that leverage metadata upstream in the value-chain are better able
to enable greater automation and scalability o downstream workfows. Accordingly,
metadata collection, enrichment, and management should ideally extend acrossthe enterprise. This approach ensures that departmental activities such as sales,
scheduling, customer relationship management (CRM), subscription management,
access management, rights management, and nancial systems all complement
their behaviors to drive the business and support the business model.8
w t t tgt?
Today, the target largely depends upon the capabilities, processes, and systems
employed by the organization in each respective medium. However, Table 1
summarizes the primary marketing (targeting) approaches.
Note that the approaches, along with their highlighted examples, make no mentiono medium-specic subtleties. Oten these subtleties have been institutionalized by
work practices or consumer-medium interactions, or imposed by the constraints o
the mediums inrastructure capabilities. Consequently, the more dierent mediums
consolidated by an organizations business model, the more dicult it is to price,
oer, deliver, and measure multimedia advertising oerings to buyers. Even more
dicult is to create meaningul cross-medium targeted buys.
8 Extending Metadata into the Enterprise, Taras Bugir, SMPTE Brooklyn, October 25, 2007,http://wikis.sun.com/download/attachments/10388082/Extending+Metadata+into+the+Enterprise.pd
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Sun Microsystems, Inc.8 The New Economics o Customer Reach: Advanced Advertising
Table 1. Targeting an audience.
dmoaphTraditional targeting o consumers based upon commonly accepted
media currencies, such as age, gender, income, and ethnicity.
go-a
Targets a consumer in a certain geographic area using location datamined rom the ISP or IP address. This is a powerul tool or localbusinesses to leverage new rich-media ads. This approach enables thedisplay o local product inventories to customers, and is especiallyvaluable or promotional and impulse buys.
Bhaoal
Sometimes called profling. It works by tracking the actions o largenumbers o users as they sur the Web and aggregates their behavioror trends. These patterns signal behaviors that become the basis ortargeting and oten include purchase history. For example: a visit to anonline car site can be the basis or serving an auto ad ater a consumercontinues on to a non-auto-related site. Behavioral targeting allows aWeb publisher, or example, to charge premium rates or a luxury-car adeven on a lightly visited site about needlepoint, especially i the usersprevious Web activity shows an interest in buying an automobile.
coxual
Matches the ad to the content actually being consumed, regardlesso ormat. For example, an article about buying homes serves up aninsurance ad, or a documentary lm on animals provides a good place toinject a public service ad or animal protection.
Afy
Similar to contextual, this approach tends to match an ad to the themeor genre o the published content. For example, a digital cameramarketer can choose to advertise on sites or video channels dedicated toconsumer electronics.
daypa
Focuses on peoples work and liestyle schedules, such as serving adsor coee to commuters between 7 to 10 a.m. This type o targeting alsoworks well or impending product releases and roadblock campaigns, butis generally directed to an audience to increase the candidate consumerbase as prospects or more rened uture targeting. Alternatively, italso can be used in conjunction with other approaches to rene the
consumers being targeted.
Puha-baTracks the purchase history o users to establish trends. Similar to thebehavioral approach. People who bought one brands shoes might beinterested in more o the same, or those rom another brand.
ra
Aims to locate consumers who dropped o midway through the pathto a purchase and serve them a new ad in the hopes they will completethe purchase. Called remarketing in the ofine world, and sometimesclassied as part o behavioral targeting online.
Tgt pg d vl
For a given audience at a given time, on a given medium, there is a base rate that
service providers and aggregators charge advertisers. (Here the term advertiser is
used generically to mean the buyer o the audience, be it the agency, the buying
house or the actual advertiser.) This economic model is generally expressed as a
buyers demand curve (Figure 3).
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Sun Microsystems, Inc.9 The New Economics o Customer Reach: Advanced Advertising
#1 Base Rate
Buyers Demand Curve
#3
#2
Extra
Revenue
Extra
Revenue
Base
RevenueNumberofUnitsSold
$/Unit
Figure 3. Advertising demand curve
For a given buy-sell transaction, the seller denes a price or inventory, the units
being in time or audience impressions o one kind or another. Based upon the
number o units sold and the base rate (#1) per unit, the seller achieves their target
revenue (in this case the base revenue). I inventory valuations can be established at
dierent price points (#2 and #3), then clearly total revenue increases as a unction
o addressing the variants o price and value o associated inventory. The maximumachievable revenue resulting rom a particular buyers demand curve is represented
by the area below the curve. By extension, the more price points dened, the more
chance there is o eecting a transaction and thereby increasing revenue.
This approach has been attempted by the media industry on both sides o the
buy-sell relationship9, each with their roots in broadcasting. Only the buyers have
enjoyed signicant long-term success. The agencies and advertisers have arbitraged
increased values on this dierential with the service providers and aggregators
largely oblivious.
The immediate benet o targeting is to be able to more eectively and accurately
value inventory with a common measurement that ensures all potential revenue
remains with the inventory owner. There is a strong argument to be made that or
any given audience there should be many such demand curves, each with a dierent
9 In the mid-1990s the advertising community optimized broadcaster rate cards against audiences to yield optimizedcampaigns that delivered reductions in advertising spending or clients but delivered better audiences. The sellerswere largely oblivious. Over the dawn o the millenium, large media providers in Europe started looking at their
inventories and turned to yield management techniques or variants. They met with mixed success, oten as a resulto institutional inertia that did not enable them to ully implement these approaches through the entire sales cycle.
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Sun Microsystems, Inc.10 The New Economics o Customer Reach: Advanced Advertising
Todays media company
fnds it difcult at best to
generate buyer demandcurves or one medium,
let alone to create
several permutations
across the entire
possibility set.
price matrix, refective o the value o that audience to the buyer. However, such
demand side economics are rapidly running out o steam in an environment with so
much more inventory being generated by new media options.
Todays media company nds it dicult at best to generate buyer demand curves or
one medium, let alone to create several permutations across the entire possibility
set. I service providers had a common inrastructure providing immediate audience
eedback, this problem would devolve into a sotware requirement and the will
to implement a complementary business process. The best tools in a media
organizations arsenal are:
Well-dened audience metrics
Real-time capabilities to substantiate value
A smart inrastructure to drive down transactional costs
A well-dened sales process to execute business policy
There has been anecdotal inormation rom actual customers citing that targeting
can increase CPMs by up to veold.10 It is broadly accepted that targeting increases
revenues:
Through actual increased CPM values, brought about by the quality and accuracy
o the targeted audience
With the ability to multiply the inventory by leveraging the same available time
slots across narrower slices o parallel audiences
By improving the eciency o inventory utilization by nding better (or optimum)
audiences or whatto a dierent audiencecould be regarded as low-grade
inventory
md d t tt
Beore we ocus upon the inrastructure requirements o targeted advertising, it
is important to survey the current capabilities o the major mediums engaging
consumers and their ad dollars in todays market. Figure 4 leverages the previous
content distribution model to illustrate the capabilities o mediums that represent
the bulk o the electronic media advertising space.
Examining the mediums, we observe that they dier substantially in their ability to
support interaction, and the degree to which they can get close to the consumer.
It is important to note that cable and satellite are increasingly leveraging IP
capabilities, but intrinsically, they have some network topology diculties that limit
the bandwidth o the duplex channel rom the consumer back to the service provider
or aggregator. Pure IP-based delivery has the greatest advantage. It can support the
10 IPTV World Forum in Budapest June 22, 1996.
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Sun Microsystems, Inc.11 The New Economics o Customer Reach: Advanced Advertising
greatest back channel bandwidth, and it can address the device uniquely. Arguably
cable and satellite can uniquely address the set top box, but their addressability is
unique to that device. IP is ubiquitous across all IP addressable devices.
It is important to understand that addressability is not the same as the ability to
support targeted advertising. Depending upon the entire delivery chain, some
devices may still require local storage or a highly scalable number o unique streams
to support individual ad placement.
Network
DMA nDMA 1
Zone nZone 1
Zip nZip 1
Zip+4 nZip+4 1
HH/STB nHH/STB 1
Individual nIndividual 1
IP
Unique Addressable Ads
1
1
2
1
3
3
2
1
210
42,000+
111,400,000
302,654,075
Nielson Researrch, Aug. 2006
US Postal Service, Mar. 2006
US Postal Service, Aug. 2007
Satellite Cable BCast TV
Figure 4. Capabilities o the mediums
The key point here is to realize that to place a targeted ad, one needs to consider:
Desired proximity to the consumer
Capability o the medium
Cost o delivering unique content to, and removing it rom, an Edge storage device
Cost o managing the ad insertion logic at the Edge o Infuence
Anticipated value o the target at the Edge o Infuence
All o these issues drive the economics o advertising, and they vary considerably
across dierent mediums.
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Sun Microsystems, Inc.12 The New Economics o Customer Reach: Advanced Advertising
TV-t dvtg
Most o the discussion thus ar has been largely TV-centric. This equates to a
mass audience approach to advertising, and has led to a largely unsophisticatedsales process and ad placement regimen built around local and national market
measurements11. To be air, in many countries it has evolved rom treating inventory
as spots in slots to segmenting the viewing audience in terms o base and sub-
demographics, and valuing the audience in terms o impressions, rather than
viewers who happen to appear at a particular part o the program stream. As
audience sample measurements have become more timely, and generally perceived
as more accurate, we have seen service providers and aggregators shit rom spot
management to audience management practices. Those that have embraced
audience valuations have generally ared better economically than those managing
spot inventories.
clt-t dvtg
Client-centric advertising ocuses on the device leveraging inormation utilizing
tokens (or cookies) and history in placing candidate consumer ads. This technique
is much more scalable, as the processing or ad placement is largely done by the
client device. Some set top boxes, mobile phones, and PC browsers are employing
the same approaches. The unique value o this approach is the ability to aggregate
eedback and responses in real time, rather than waiting or the next survey
sampling or set top box polling aggregation to provide insight. This value has directly
translated into advertising ROIs addressing the classic Hal the money I spend on
advertising is wasted; the trouble is, I dont know which hal.
12
wbt
No discussion would be complete without the mention o Google, Yahoo, and MSN.
As an example, Googles orays into the non-Web space, initially with the acquisition
o dMarc or Radio13 and subsequently with the internal trials, partnerships, and
development o video insertion, suggest that their approach to a three-screen
coverage is largely an extension o their current business model. Clearly, it would
make sense to leverage that approach as a single purchasing point or advertisers.
However, it does not make sense or those telecommunications providers and cable
companies that are supplying these models with the bandwidth necessary or this
business model. It makes even less sense or these service providers to share their
revenue in order to provide a conduit to the subscribers that they have painstakingly
collected.
11 This Business o Television, Howard Blumenthal and Oliver Goodenough, Billboard Books, 1998, ISBN 0- 8230-7704-7.
12 John Wanamaker (1838-1922), owner o Americas rst department store.13 Google to Acquire dMarc Broadcasting, Google Inc., Mountain View, CA, January 17, 2006.
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Sun Microsystems, Inc.13 The New Economics o Customer Reach: Advanced Advertising
For advanced advertising
to evolve eectively
and assist in thetransition to new media
business models, both
technical and business
requirements must be
addressed.
cl
Targeted advertising conversations range widely, depending on whether the
discussion is with the advertiser, the agency, the content provider, the serviceprovider or aggregator, dierent roles in each o these organizations, or the
consumer. Furthermore, these discussions are ltered by institutionalized workfows,
and tend to be very subjective and dened by the technical capabilities o the
content delivery platorm and attached devices.
This leads us to conclude that or advanced advertising to evolve eectively and
assist in the transition to new media business models, we need to address both
technical and business requirements. Specically:
Advertisers need to think dierently. They need to push the envelope o the
currently institutionalized media value chain. Theyll need to ask or more, and be
prepared to pay or a real media ROI.
Agencies need to think multimultimedia, multinational, multiaudience,
multiscreen. They need to understand that marketing concepts need not be siloed
ater media budget allocations are made, and aggregate audiences up rather than
split budgets down. This requires agencies to buy media and develop creative in a
more integrated ashion.
Service providers and aggregators need to manage their audiences in a more
value-centric manner. Audience measurements must be meaningul to advertisers
and agencies alike. Multiscreen platorm measurements need to refect value, and
not just be deal sweeteners. They need to consolidate platorms and workfows,
and realize that digital content is data that can be automated and scaled.
Consumers need to understand that advertising is a valuable service. It subsidizes
their content experiences. They must understand that their time, privacy, and
payments have value that they can balance across the wide choice o mediums
increasingly being presented.
These changes will not happen overnight. That is why this transition to a digital
media business is so painul. The technology is constantly evolving, and the pace at
which it can be deployed is a unction o economics and coexistence. There is one
constant beyond change itsel, and that is that the days o proprietary inrastructures
are numbered and the uture is IP. As the industry collectively marches down thispath o targeted advertising, privacy issues are likely to become a major eature in
the discussion. A balance between consumer and marketing must be bargained.
As we move rom a centralized scheduled world o media to a more interactive user-
engaged world, we will start seeing increased sel-organization in the media system
as a whole. This kind o intelligent systemic behavior, based upon simple rules o the
component pieces, is best understood in the context o Emergence Theory14. But that
is beyond the constraints o this discussion.
14 Emergence: The Connected lie o Ants, Brains, Cities and Sotware, Steven Johnson, Touchstone Press, 2002,ISBN 0- 684-86875-X.
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Sun Microsystems, Inc.14 The New Economics o Customer Reach: Advanced Advertising
Appendix A
stt t idty ov t Lt 90 Dy
This chapter provides excerpts rom articles that describe the state o the industry.
wPP Dv stk cl t Dt it ol ad
When it comes to data ownership, the web is still in the Wild West phase, but
WPP Groups media-buying arm, Group M, laid down the law recently by changing
the terms o its online-ad deals to the ollowing: All data generated or collected
by the Media Company in perorming under this Agreement shall be deemed
Confdential Inormation o Agency/Advertiser.
With that phrase, Group M is making it very clear where it stands on a debate
thats been around since the dawn o internet advertising in the mid-1990s: Who
owns the data and under what terms? Group M Interaction CEO John Montgomery
casts the move, frst reported by MediaPost, as standardizing the way business
is increasingly being done at the worlds largest media-buying frm. Its to
ensure that data is confdential and cannot be accessed by our competitors, Mr.
Montgomery said. Its a loophole we wanted to close.15
mbl htl Bkg s roi r
Hotel operator Marriott reported an earnings loss or the ourth quarter last
week, but theres one small encouraging sign: the chains mobile bookings.
Marriott Mobile generated $2 million in gross revenue between its August 2008
launch and the end o the year. But revenue rom mobile bookings in January
was headed upward airly quickly, the hotel chain told Ad Age. Meanwhile, Omni
Hotels mobile site has grown 85% in the past six months, and Hiltons mobile
channel has generated a 22% return on investment or the brand. Those kinds o
numbers are bright spots in a tough time or hoteliers -- and they show that even
in recession, companies are willing to invest in and experiment with new media
when the ROI is clear.
... A third o U.S. travelers have used their mobile phones to access the internet,
although only 15% o travelers showed interest in purchasing travel using their
handsets, according to a PhoCusWright survey based on about 800 responses. On
the upside, 48% o travelers who earn more than $200,000 a year said they wereopen to getting travel oers, vs. 32% o those who earn less. Twenty percent o
the highest-earning group said they were interested in mobile bookings, likely
because theyre early adopters.16
15 WPP Division Stakes Claim to Data From Its Online Ads, Michael Learmonth, AdAge.com, February 9, 2009.See http://adage.com/abstract.php?article_id=134414
16. Mobile Hotel Bookings Show ROI in Recession, Rita Change, AdAge.com, February 19, 2009.
See http://adage.com/abstract.php?article_id=134711
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Sun Microsystems, Inc.15 The New Economics o Customer Reach: Advanced Advertising
T nxt B mdl ad-spptd TV?
Many in the advertising business are calling or a new business model or ad-
supported TV. It is clear that the value o traditional TV as a medium or deliveringadvertising messages eectively is quickly eroding, and there is a scramble or
new technologies and models to fll the void. Three current and emerging ways or
consumers to get TV or video content (including advertising) oer a good place to
start to understand how we might answer these calls or change:
1. Traditional, linear-programmed, multichannel TV with optional DVR
and video on demand delivered by cable systems, telecoms or satellite
providers. Greater two-way interactivity is one or two years away.
2. Behaviorally or demographically addressable ads delivered at the
household or sub-household level using TV-distributor data within
acceptable privacy guidelines (baby-ood ads in homes with babies, or
example).
3. Consumers searching or and etching desired programs rom internet sites
via broadband, bypassing cable or satellite services and bundled networks
entirely. Content may be played on computer or TV screens.
It is noteworthy that the more-traditional delivery methods (Nos. 1 and 2 above)
can be described with a verb that denotes a push o content (delivered), while
the third method uses verbs that indicate an active choice by the viewer (search,
etcha pull o content. Even consumers in scenario No. 1 are searching or,
recording and retrieving content through their DVRs and watching their choices
when and where they want to -- and, by the way, skipping the commercials.
Consumers are increasingly embracing these more-empowering ways to enjoy
programs on their terms, and advertising is being bypassed in the process.17
T n wld app-oly advtg
The widgets and other applications that were little more than digital window
dressing a ew years ago have exploded into a vast new advertising venue. Many
apps now draw millions o users each day at the same time theyve become a
broadly networked social medium in their own right. And, that, in turn, has given
rise to a new sort o apps-only media-buying agency.18
TV evya Lg a Y Py it
Je Bewkes hopes to put more TV on the internet, but hes going to makeconsumers prove theyve paid or it. ... I you want to watch your avorite TV
network or shows through broadband on any device -- PCs or mobile -- you can
do it as long as you subscribe to any multichannel provider, Mr. Bewkes told
Advertising Age. Its a natural extension o the existing model.19
17 The Next Business Model or Ad-Supported TV?, John Osborn, AdAge.com, February 20, 2009.
See http://adage.com/abstract.php?article_id=134746.18 The New World o Apps-Only Advertising, Hoag Levins, AdAge.com, February 23,2009.
See http://adage.com/video/article?article_id=134798
19 TV EverywhereAs Long As You Pay or It, Michael Learmonth, AdAge.com, March 2, 2009.
See http://adage.com/abstract.php?article_id=134961
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Sun Microsystems, Inc.17 The New Economics o Customer Reach: Advanced Advertising
...Advertising systems can track not only the location o the phone, but also
that persons travel pattern: uptown New York to Nob Hill in San Francisco, or
instance.
...For now, there are not enough people using smartphones to make it worthwhile
or advertisers to use highly specifc criteria. But as more people switch to
smartphones, that will happen more requently. The smartphone market in North
America increased 69 percent in 2008, according to the research frm Gartner.20
cbl Tg upt mkt
As the broadcast networks gear up or whats shaping up to be their most
challenging upront yet, the picture or cable is clouded with the same economic
uncertainty thats already prompting advertisers to cancel as much as 10% to
14% o their frst- and second-quarter upront commitments. The cable upront,
which last year increased by 9.3% to $7.65 billion, according to the Cable
Advertising Bureau, is working overtime to maintain its momentum as advertisers
cut back on everything rom volume o inventory bought to number o networks.
...As one media buyer told Ad Age, I you bought eight or nine cable networks
last year, youre probably only going to buy our or fve that really work or you
this year.
But CAB CEO Sean Cunningham noted that so ar some cable networks are doing
fne, thanks to what he characterized as a ight to quality, a ight to the right
kind o value in that its properly priced as an oering that only gets better with
every week, month and quarter.
Cables relative strength will also be a direct result o its continued ratings
growth, as it now controls 58% o season-to-date prime-time viewing compared
with broadcasts 36% share, according to research rom Interpublic Group o Cos.
Magna Global. Thats up rom cables 56% share o prime vs. broadcasts 39%
share last season.
...In certain cases, such as Time Warners CNN, some networks that have large-
scale online audiences are seeing upront redistribution rom their TV property
to the web. Greg DAlba, CNNs exec VP-ad sales, said, Even i we do have a
uctuation in terms o options, were seeing a lot o that money stay in-house and
move rom platorm to platorm.
... Those outperorming the market thus ar are demographically targeted
networks such as MTV Networks Comedy Central, Spike and TV Land, which cater
to young adults, young men and baby boomers, respectively. MTVs Mr. Lucas said
Comedy and Spike are outperorming the market thus ar based on little exposure
to automotive cutbacks and strength among thriving categories such as video
20 Advertisers Get a Trove o Clues in Smartphones, Stephanie Cliord, nytimes.com, March 11, 2009.See http://www.nytimes.com/2009/03/11/business/media/11target.html?_r=1&scp=1&sq=advertisers%20get%20a%20trove%20o%20clues%20in%20smartphones&st=cse
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Sun Microsystems, Inc.18 The New Economics o Customer Reach: Advanced Advertising
games, ast ood, movies and home entertainment. Targetability -- getting the
audience you need to get to move the product with little waste in an efcient
manner -- is whats winning out this year, Mr. Lucas said.21
nBc Zk Dd ntk n Pgg sdl
NBC Universal CEO Je Zucker tried to put the best spin possible on the media
industrys increasing woes, saying during a question-and-answer session
today that he was placing aith in his companys cable assets while NBC and
others attempt to fgure out how to monetize TV and other programming in an
increasingly digital world.
...I dont want to say ratings dont matter, because they do. This is not about
ratings dont matter. This is about they are not the only gauge o success, Mr.
Zucker said. Were in show business, and the show is important, and the business
is important. I think it was easier to be in the show when the business was easier,
he said.
The media chie said NBC Universal was making some progress in the quest
to monetize traditional TV content online. Where he once warned that media
companies could not aord to lose analog dollars in exchange or digital pennies,
he joked today that he elt NBC was now able to get digital dimes.
...The TV business will remain in transition or some time to come, he added.
What weve lost in terms o viewers and ad dollars on the traditional audience
system is not being made up, not even close, on the digital side. Until we do that,
there is a risk, he said. I think well get there, but can we survive rom here to
there is the question. A lot o newspapers have not been able to survive, and a
lot o local TV stations are having trouble surviving. So we believe in ubiquitous
distribution. We want our content to continue to be available. We want to fnd an
economic model that makes sense and the next two to three years is going to be
what thats all about.22
t my B Bgt, bt it aplyp n
The toll will be so vast -- and the institutions o media and marketing are so
central to our economy, our culture, our democracy and our very selves -- that its
easy to antasize about some miraculous preserver o reach dangling just out
o reach. We need mass, so mass, thereore, must survive. Alas, economies areunsentimental and denial unproductive. The post-advertising age is under way.
This isnt about the end o commerce or the end o marketing or news or
entertainment. All o the above are fnding new expressions online, and in time
will ourish thanks to the very digital revolution that is now ravaging them.
21 Cable Faces Tough Upront Market, Andrew Hampp, AdAge.com, March 16, 2009.See http://adage.com/abstract.php?article_id=135252.
22 NBCs Zucker Deends Networks New Programming Schedule, Brian Steinberg, AdAge.com, March 18, 2009.
See http://adage.com/abstract.php?article_id=135320.
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Sun Microsystems, Inc.19 The New Economics o Customer Reach: Advanced Advertising
The uture is bright. But the present is apocalyptic. Any hope or a seamless
transition -- or any transition at all -- rom mass media and marketing to micro
media and marketing are absurd.
The sky is alling, the rog in the pot has come to a boil and, oh yeah, we are,
most o us, exquisitely, irretrievably [destroyed].
...Amid 23% population growth in the past two decades, U.S. newspaper
circulation has dropped 20% -- one reason your morning paper, downsized every
which way, is no match or a sti breeze. Craigslist, siphoning o $7 billion worth
o classifeds, is another.
...On the plus side, thanks to the internet, all o these papers -- especially the
Times -- have seen their readership soar. ... 1) Nobody clicks on ads, because why
would they? 2) The virtually infnite supply o online ad inventory will always
depress the price even the best publisher can etch. Always. Immutably. Forever.
Mass media thrived on the economics o scarcity. The internet represents an
economy o unending abundance.
...In 2008, newsstand sales -- the proft engine o the industry -- ell 12%. According
to Media Industry Newsletter, gross ad pages so ar in 2009 have dropped a
staggering 22% -- that coming o a dismal 2008. In recent months, Cond Nast
has olded Domino, Meredith has olded Country Home, Zi-Davis has olded PC
Magazine, Hearst has olded CosmoGirl and O at Home, The New York Times has
olded Play, and Hachette has olded Home.
... Bernstein Research predicts a 20% to 30% drop in 2009 TV station ad revenue.
Stations share o TV ad dollars, according to TNS Media Intelligence, dropped
to 26% in 2007 rom 34% in 2000. Afliate ees rom networks have essentially
disappeared, and the values o local licenses have plummeted, resulting in
massive write-downs by ownership groups. And two o the our major networks
-- CBS and NBC -- have publicly hinted that the days o distributing programming
over the air via afliates are numbered.
... According to Nielsen Media Research, in the last reporting period, CBSs prime-
time audience was down 2.9%. ABC was down 9.7%, Fox was down 17.5% and
NBC was down 14.3%.
... The average price o reaching 1,000 households with a 30-second spot in primetime, according to Media Dynamics, has jumped rom $8.28 in 1986 to $22.65 in
2008 -- but eectively more like $32, because between 150 and 200 o those 1000
households use DVRs to skip past the ads.
... Cable has problems o its own. Its no more DVR-proo than broadcast. It is also
suering a sort o distribution autoimmune disease, wherein the body attacks
itsel. The very coax the industry has been stringing or 50 years is now the pipe or
broadband, which households increasingly are using to bypass pay cable entirely.
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Sun Microsystems, Inc.20 The New Economics o Customer Reach: Advanced Advertising
... Yahoo, at about 3.5 billion daily page views, is the most visited website in the
world. In 2008, it had a proft o $424 million on $7.2 billion in revenue. Not too
shabby, unless you compare it with 2005, when the company had a proft o $1.9
billion on revenue o $5.3 billion. Last spring, ater a prolonged dance, it fnally
rejected Microsots takeover bid at $33 per share, or about $50 billion. Yahoo now
trades in the range o $12, or a market cap o $17 billion.
... The undamental obstacle or online publishing, according to the president o
the Interactive Advertising Bureau: It couldnt be more straightorward, Randall
Rothenberg says. It is a disequilibrium between supply and demand.
... But why pick on poor Yahoo? Consider Twitter, Facebook and YouTube, which
among them have altered human behavior o a grand scale. Two and a hal years
ago, Google paid $1.65 billion or YouTube. The 2008 payo: about $90 million
in ad revenue -- which might (but probably wont) cover the costs o copyright-inringement litigation and certainly wont cover bandwidth charges. Facebook,
whose 2007 valuation o $15 billion has shrunk to about $3.7 billion, had 2008
revenue estimated at $300 million. And Twitter had $0.
Thus, the mantra: We have the audience. All we need is a business model. As i
adequate revenue were somehow guaranteed by physics or heavenly deity. It isnt.
Ive pored over Isaac Newton and the Ten Commandments. There is no Thou
shalt monetize.23
Dgtl md Tg TKy Tky
In the absence of new infrastructure buildouts and lengtheningsales cycles, vendore are likely the worst hit. They will necessarilyhave to reinvent their business models to survive in this market.
There are newer media avenues to put out content, but fewmeans to monetize it. Already struggling against freecontent overflow over the Internet, content providerswill also have to deal with lack of traditional advertising.
While large system integrators will continue to havean increased role in enabling cost-effective andefficient workflows, smaller niche providerswill struggle as business starts shrinking
Service providers will experience a marginaldecline in revenues. There will be price-driven competition. Competition will growfrom Internet based service providers.
Consumers will be least affectedas they will continue to gain
access to digital contentover multiple media
High
Low
ImpactofRecession
Vendors
ContentCreators
SystemIntegrators
Multiple Service Providers(MSOs)
Consumers
Figure 5. Impact o the recession on the digital marketplace24
23 Future May Be Brighter, but Its Apocalypse Now, Bob Gareld, AdAge.com, March 23, 2009.
See http://adage.com/article?article_id=135440.
24 Source: Frost & Sullivan, March 26, 2009.
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Sun Microsystems, Inc.21 The New Economics o Customer Reach: Advanced Advertising
Gp m rv md-spdg t Dd
WPPs Group M announced today that it has revised its measured-media-
spending orecast or 2009, and the news isnt good. The media unit predicts thatglobal measured media spending will drop 4.4% to $425 billion, a much bigger
drop than the 0.2% it predicted back in December.
The group said it expects a near identical drop o 4.3% to $155 billion in measured
media spending in the U.S., rather than the 3% it predicted in December. Looking
orward, Group M said the industry could see a drop o 6.8% in the U.S. in 2010.
London-based Adam Smith, utures director at Group M, said in a statement: The
2008/2009 period is now a more serious advertising recession, in scale, duration
and relative to the global economy, than the extraordinary 5.1% real-terms post-
dot-com global advertising correction o 2001.25
md n mt wb Vd: G rtg Pt
Good news or online video: Mindshare, a unit o WPPs giant media buying
operation GroupM, is embracing a new metric that could speed the migration o
TV advertising dollars to the web.
Since YuMe specializes in placing video ads in premium video, including TV shows
on the web, a GRP metric will allow an advertiser to buy both TV and online or
the same campaign on the same standard.
The agency is throwing its weight behind a translation o TVs gross ratings point
to online video developed with video ad network YuMe, meaning Mindshare
clients such as Unilever and Ford will start buying online video on a gross-ratings-
point basis, the same way they buy TV.
Agencies have or some time looked or a way to measure online video in terms
o gross ratings points (GRPs), or the sum o the reach o a campaign times the
requency that the target audience was exposed to an ad.26
Vz P Tgtd advtg By ed Y
Targeted, web-like TV advertising has been long-promised, but will Verizons
FiOS, a relative latecomer to the party, be the frst to deliver it?
Verizon will start targeting advertising on a household level by the end o the
year, allowing advertisers to target homes, rather than shows, or to buy specifc
demographics and behaviors via the set-top box. This is not something on the
drawing board; its what were doing right now, said Verizon CMO John Stratton
at Advertising Ages Digital Conerence in New York.27
25 Group M Revises Media-Spending Forecast Downward, Michael Bush, AdAge.com, March 31,2009.
See http://adage.com/abstract.php?article_id=135683.26 Mindshares New Metric or Web Video: Gross Ratings Points, Michael Learmonth, AdAge.com, April 6, 2009.
See http://adage.com/mediaworks/article?article_id=135812.
27 Verizon Promises Targeted Advertising By End o Year, Michael Learmonth, AdAge.com, April 7, 2009.See http://adage.com/digital/article?article_id=135853.
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Sun Microsystems, Inc.22 The New Economics o Customer Reach: Advanced Advertising
T D cbl TV addbl advtg n
Canoe, the technology consortium backed by the countrys six largest cable media
companies, will launch the television industrys frst national addressable advertisingsystem next month. A long-talked about concept, national addressable advertising
means a single advertiser with a single placement can simultaneously target
dierent versions o a commercial at dierent demographics o cable subscribers
across the entire country. The move is a major step toward a TV experience that is
more internet-like.28
YTb mvg t ndl ad sl
YouTube is still Googles toughest sell to advertisers, but the video site is doing
better by one measure than most people think: YouTube is selling ads against about
9% o its video views in the U.S., up rom just 6% a year ago. YouTube declined to
comment on the exact rate at which it is selling ads and keeps the exact percentagea closely held secret. But Shishir Mehrotra, YouTubes director-product management,
told Ad Age that the company is selling ads against hundreds o millions o views
each month. More important, he said, YouTube is selling ads against more videos
than its nearest competitor has total views.
A YouTube spokesman confrmed that the social site is placing ads on more videos
than Fox Interactive Media, parent o MySpace and IGN Entertainment. Fox
Interactive ranks No. 2 by ComScores measure, with 463 million views in February, or
about 8.7% o YouTubes 5.3 billion views in the U.S.29
T ot v Bdt ntk D ad rv
Three o the nations fve big broadcast networks showed year-over-year declines in
2008 ad revenue, according to TNS Media Intelligence, a sign that one o the media
industrys most stable venues continues to struggle in an extremely challenging
and changing economic and media landscape. In 2008, only News Corp.s Fox and
General Electrics NBC mustered gains in ad sales, and one analyst suggested the
two networks may have benefted rom broadcasting either the Olympics (NBC)
or the Super Bowl (Fox) in that year. In general, it was a disastrous year or most
advertising-based media, said Marci Ryvicker, a media-industry analyst or Wachovia
Capital Markets...
The 2008 numbers are notable because its relatively rare or broadcast revenues to
decline rom one year to the next. Indeed, until 2008, CBSs ad revenue as measured
by TNS had risen steadily rom 2005, when the network took in about $6.674 billion.
Likewise, ABC took in about $5.897 billion in 2005, and had seen steady increases.
O the our biggest broadcast networks, only NBC, beset in the last several years
by ratings declines and programming issues, saw its 2007 ad revenue decrease
noticeably rom the about $6.02 billion it raked in during 2006.30
28 The Dawn o Cable TVs Addressable Advertising Nears , Hoag Levins, AdAge.com, April 8, 2009.See http://adage.com/video/article?article_id=135856.
29 YouTube Moving the Needle on Ad Sales, Michael Learmonth , AdAge.com, April 8, 2009.
See http://adage.com/digital/article?article_id=135859.30 Three Out o Five Broadcast Networks Down in Ad Revenue, Brian Steinberg, AdAge.com, April 7, 2009.
See http://adage.com/mediaworks/article?article_id=135852.
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Sun Microsystems, Inc.23 The New Economics o Customer Reach: Advanced Advertising
t
This white paper is sponsored by the Sun Microsystems Communications and Media
Industry Practice and Suns executive Media Advisory Board (MAB). Led by Sun andleading media industry executives, MAB is ocused on identiying practical solutions
to shared business challenges o cable and TV programmers, broadcast networks,
lm studios, and other major content owners and aggregators. The paper was rst
presented to participants o a Sun MAB roundtable on Advanced Advertising held
at the 2009 NAB conerence in Las Vegas. In making this work reely available, Sun
MABs intent is to oster industry dialog on certain technologies and practices that
have potential to accelerate the realization o digital distribution business benets,
particularly as they pertain to video content. The paper is available on sun.com.
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Sun Microsystems, Inc.24 The New Economics o Customer Reach: Advanced Advertising
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Sun Microsystems, Inc.
Sun Microsystems, Inc. 4150 Network Circle, Santa Clara, CA 95054 USA Phone 1-650-960-1300 or 1-800-555-9SUN (9786) Web sun.com
The New Economics o Customer Reach: Advanced Advertising
2009 Sun Microsystems, Inc. All rights reserved. Sun, Sun Microsystems, and the Sun logo are trademarks or registered trademarks o Sun Microsystems, Inc. or its subsidiaries in the United States and othercountries. Inormation subject to change without notice. Printed in USA 04/09