NEW YORK--(BUSINESS WIRE)--In a first for the local broadcast television industry, Tribune Broadcasting, a division of Tribune Media Company, has launched an ‘always-open’ TV ad sales operation thanks to a technology partnership with programmatic TV leader Wideorbit.
As an early adopter of machine-assisted sales of local spot advertising, Tribune collaborated with WideOrbit on enhancements to WO Programmatic Open Marketplace. In particular, a new rule-based Auto-Acceptance feature enables Tribune to accept complying offers for ad time around the clock - even outside of normal business hours. Tribune’s sales management will be able to use WideOrbit’s Auto-Accept feature to intelligently adjust pricing for sell-out levels and offer dynamic floor pricing for the first time ever in the history of linear TV.
WideOrbit’s Open Marketplace allows advertisers to review and order spots on Tribune’s 42 owned or operated local television stations reaching more than 50 million U.S. households, including in the nation’s top three markets and seven of the top ten. In addition to inventory from its primary channels, Tribune will also offer multicast advertising opportunities in WideOrbit’s Open Marketplace. In total, Open Marketplace offers access to ad inventory from more than 1,000 stations that reach nearly 95% of U.S. households.
“We have to compete on audience programming value and ease of use to service advertisers,” said Kerry Oslund, VP Strategy and Business Development at Tribune Broadcasting. “Automating sales workflows with WO Programmatic allows us to take orders from ad buyers based on pre-set parameters anytime just like digital self-serve platforms.”
“Programmatic ad sales platforms that allow our valuable audiences to be sold in both high tech and high-touch environments will increase demand in our Local Spot sector. We applaud WideOrbit’s efforts in this space and will continue to work with them and others in advancing it,” said Angela Betasso, Chief Revenue Officer at Tribune Media.
"Tribune’s embrace of an ‘always-open’ programmatic sales operation will make its local broadcast TV ad inventory as easy to purchase as any other media option," said Eric R. Mathewson, Founder and CEO at WideOrbit. “We believe all broadcasters must streamline their transactional processes to be competitive with both digital and national media. We will continue to focus on software solutions that keep highly effective media like local TV as appealing to ad buyers as any competing media platform.”
WideOrbit is the technology platform for media companies to connect audiences and ads, everywhere. Its mission is to simplify media buying and selling by focusing on innovation, customer delight, and value creation for both sides of media transactions. Starting with its core traffic management solution, WideOrbit centralizes operations and streamlines workflows for radio, cable, and television companies. The company continues to introduce new benefits to the media industry, including a programmatic media exchange for increasing demand for advertising inventory and improving campaign efficiency.
WideOrbit is headquartered in San Francisco with offices worldwide. Customers include NBCUniversal, Tribune Media, Entercom Communications, Raycom Media, TEGNA, AMC Networks and many other top media companies around the world. Learn more at wideorbit.com.
About Tribune Media
Tribune Media Company (NYSE: TRCO) is home to a diverse portfolio of television and digital properties driven by quality news, entertainment and sports programming. Tribune Media is comprised of Tribune Broadcasting's 42 owned or operated local television stations reaching approximately 50 million households, national entertainment cable network WGN America, whose reach is more than 77 million households, and a variety of digital applications and websites commanding 54 million monthly unique visitors online. Tribune Media also includes Chicago's WGN-AM and the national multicast networks Antenna TV and THIS TV. Additionally, the Company owns and manages a significant number of real estate properties across the U.S. and holds a variety of investments, including a 31% interest in Television Food Network, G.P., which operates Food Network and Cooking Channel. For more information please visit www.tribunemedia.com.
WideOrbit® and the WideOrbit logo® are among the trademarks of WideOrbit. Other trademarks belong to their respective owners. WideOrbit reserves the right to alter product and services offerings, and specifications and pricing at any time without notice, and is not responsible for errors that may appear in this document. © 2018 WideOrbit Inc. All rights reserved.