Premion Shows Station Groups the Way to Over-The-Top Revenue
TEGNA, Gamut provide local on-ramp to advanced advertising
Over-the-top advertising has become a surprisingly important business for companies that have been stockpiling local television stations.
Early in his remarks about Tegna’s success as a “pure-play broadcasting company,” CEO Dave Lougee gushed about the growth of Premion.
“Premion, our first-to-market over-the-top advertising platform, has continued to evolve and expand to best serve the needs of regional and local advertisers,” Lougee said. He said Tegna was increasing its 2021 outlook for Premion, forecasting a 45% to 50% increase in revenue over 2020.
OTT advertising is more than a growing source of revenue for station groups following a COVID-caused recession from which the local ad market is still recovering. Streaming revenue is letting broadcasters, including Cox Media Group, Sinclair Broadcast Group and the NBC- and Fox-owned and operated stations, claim a foothold in the technology field and create advanced advertising products for clients enamored with digital and social media.
Read more about how Premion continues to evolve in the marketplace in Broadcasting & Cable here.