TBV Backs Standards for Electronic Media Buying

NEW YORK–The Television Bureau of Advertising (TBV) is creating a task force made up of representatives of the largest ad agencies and media shops in an effort to develop industry standards for electronic media buying by the end of this year.

The TBV, a trade association representing broadcast groups, advertising sales rep firms and 500 individual stations, held a teleconference Tuesday afternoon in the New York and Los Angeles offices of Initiative Media to release a document that details the basic business elements involved in crafting a standard electronic transaction for media buying. The promise of this initiative, essentially, is to eliminate the mistakes and time consumed by back office operations associated with the current process of handwriting transactions between broadcasters and media buyers.

While the standards being conceived by TBV are concentrated on procedures for local broadcasts, many of the media professionals said that this work could influence the course of EDI throughout media.

“We want to build a multi-media standard, not just a local broadcast standard,” said Mike Lotito, CEO of Mediaport, a company established by a joint venture of the Interpublic Group of Cos., WPP Group and Omnicom to move EDI–the common acronym used for electronic data transfer–forward. “We’ll work with this group, as well as the groups from the other individual vertical industries as hard as we can.”

Aside from the participation of IPG’s Initiative, other media shops involved in the TBV venture include WPP’s The Media Edge and MindShare, Zenith Media and MediaVest.

The TBV hopes to have a committee to work on the first draft of the standards by this Friday, said Abby Auerbach, TBV’s evp and director of its EDI committee.