Nexstar Media Group and Sinclair Broadcast Group have established a consortium to “promote spectrum aggregation, innovation and monetization and enhance their abilities to compete in the wireless data transmission sector.”
Saying previous attempts to make money off new technology were “based on flawed technology” the two station groups are gearing for the adoption of the ATSC 3.0 broadcast standard. ATSC 3.0 will allow consumers to integrate video content and data across various smart devices.
“The consortium will promote innovation and develop and explore products and services associated with ATSC 3.0 and monetization opportunities such as spectrum utilization, virtual MVPD platforms, multicast channels, automotive applications, single frequency networks and wireless data applications, among others,” said the press release which added that Nexstar and Sinclair also plan on capitalizing on that technology to “capture significant and meaningful information relating to consumers’ actual viewing and consumption behaviors.”
The two, who say they will think about including other station groups, have agreed to collaborate on a non-exclusive basis. Together, the two own and operate TV stations reaching nearly 60 percent of the U.S.
“Nexstar shares our vision for broadcast standard innovation and the benefits of knowing with precise accuracy who is viewing our programming, what they’re watching and when they’re watching,” said Sinclair Broadcast Group president and CEO Chris Ripley. “Data gathering, measurement and viewer behavior are critical considerations for advertisers and our collaborative initiative will ensure that Sinclair, Nexstar and perhaps other industry participants are out of the blocks quickly once ATSC 3.0 is launched. We believe this effort will maximize the value of our programming and ad inventory while creating new cross platform revenue opportunities that will benefit our respective shareholders.”