Sunday, April 21, 2019

FreeWheel Solves Decades-Long Inefficiencies of Buying Local TV

BWW News Desk
April 09, 2019

FreeWheel A Comcast Company Nasdaq CMCSA today announced that its FreeWheel Advertisers division has launched enhancements to its Strata platform that will bring additional automation to the local TV advertising process These enhancements will bring greater efficiencies to many of the tasks associated with buying local TV advertising for both agencies and local broadcasters The new automated capabilities will be made available to the 1200 agencies that already use the Strata platform and all US TV stations pblockquotep idpullquotepblockquote p FreeWheel is dedicated to improving the Strata platform to reduce the friction associated with TV buying and provide time savings With this latest round of enhancements weve accomplished these goals said Joy Baer General Manager FreeWheel Advertisers When you consider that these new automation enhancements are available within the same system that local TV buyers and sellers currently use the solution is clearly unique in the industry The word that our clients are using is gamechanging p p The capabilities now available include p ul li classbwlistitemmargb bAutomated Ratings Estimatesb Using algorithmbased machine learning the Strata platform can automatically provide agencies with ratings estimates for proposals submitted by TV sellers li li classbwlistitemmargb bOptimized Schedulesb Buyers can evaluate multiple what if scenarios by building schedules in seconds against an advertisers audience goals and budget li li classbwlistitemmargb bRealtime Online Negotiationsb Buyers and sellers can use the software for twoway communication cutting out the need for email and timewasting errorprone data entry li ul p Zimmerman Advertising part of Omnicom Group is one of the agencies currently piloting the software and their buyers have already seen some positive results p p The automation capabilities within the Strata platform allow our buyers to accomplish what used to take a full day in less than a minute said Adam Herman EVP Chief Integrated Media Director Zimmerman Advertising This is a huge benefit to our clients as our buyers time can be better spent on more strategic activities rather than on mundane tasks that are best automated We congratulate FreeWheel on automating these tasks so accurately and reliably p p According to a January 2019 Advertiser Perceptions survey commissioned by FreeWheel buyers spend 84 hours a week on activities they wish were more automated p p FreeWheel expects the software to be available to all agencies later in Q2 Local broadcasters who are already Strata platform users can connect with agencies using their current tools Other sellside users can access webbased software to connect with those agencies who are utilizing the new capabilities p p Anything that we can do to make local TV advertising easier to buy is a benefit to the entire ecosystem said Brett Jenkins EVP Chief Technology Officer Nexstar Media Group The work that FreeWheel has done on automating some of the more timeintensive activities is a win for the industry and very much in line with the goals of the Television Interface Practices TIP Initiative We look forward to working with FreeWheel on the roll out of its new capabilities p p FreeWheel Advertisers plans to launch additional enhancements by the end of the year including midflight optimization and automated invoice reconciliation The company also plans to extend this initiative to include local OTT advertising allowing TV buyers to comprehensively plan and buy both linear and digital TV in Q4 2019 p p bAbout FreeWheelb p p FreeWheel A Comcast Company empowers all segments of The New TV Ecosystem We are structured to provide the full breadth of solutions the advertising industry needs to achieve their goals We provide the technology data enablement and convergent marketplaces required to ensure buyers and sellers can transact across all screens across all data types and all sales channels in order to ensure the ultimate goal results for marketers p p With offices in New York San Francisco Chicago London Paris Beijing and across the globe FreeWheel A Comcast Company stands to advocate for the entire industry through the FreeWheel Council for Premium Video For more information please visita referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttp3A2F2Ffreewheeltv2Fampesheet51966969ampnewsitemid20190409005781amplanenUSampanchorwwwfreewheeltvampindex1ampmd5779a27f033531ecb9307394eda3d5c80 relnofollowwwwfreewheeltva and follow us ona referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Ftwittercom2Ffreewheelampesheet51966969ampnewsitemid20190409005781amplanenUSampanchorTwitterampindex2ampmd57405af89e0fe1889aa8bd8b88f9d3ebb relnofollowTwitteraanda referrerpolicyunsafeurl targetblank 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SOURCE: BUSINESS WIRE. ©2015 Business Wire


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