This week marks the return of the television upfront, the annual mating dance between broadcast buyers and sellers during which the major networks lock in their share of big TV ad budgets. Television advertising has been bought and sold this way since the 1950s (or so) and even in 2007 it seems that Madison Avenue is frothing with anticipation over the presentations, swag bags and posh after-parties.
It has been quite a few years since I've planned television campaigns but doesn't this whole process seem a bit out-of-synch with the liquid nature of today's media landscape? Sure, the networks' pitches will include talk of how each is employing emerging technologies and new media channels to allow major advertisers to connect with eager consumers, but the ground rules are still clear -- for advertisers looking to tap into the promise of new online video offerings, podcasts, VOD opportunities and even premium website placements, a large network TV spend is the price of entry.
Plus we're talking about placing bets and locking in expenditures for a television season that won't even start for another four months -- a television season that is bound to be plagued by increasing fragmentation, the continued decline in live viewership, the pronounced defection of in-demand younger audiences to alternative content channels, unprecedented uncertainty about the present and future state of traditional mass media, and rapid-fire change.
Think about all of the ways the media landscape has changed over the past four months, let alone since the start of the 2006-2007 television season. Do we think we'll see any less change between now and September? Do we really think we can make smart advertising investments for four months from now, let alone for the first half of 2008?
Apparently, we do! From what I'm hearing, tickets to some of this year's presentations (Fox's in particular) are in such high demand that some agency execs are going begging for seats. Well, at least the parties will be fun.
