Yet another industry trade group has purged the word "cable" from its branding, with the Cabletelevision Advertising Bureau announcing Monday that it is incorporating broadcasters and re-monikering as the Video Advertising Bureau.
Founded in 1980, the CAB will be dissolved and replaced by the more powerful VAB, which will boast top programming conglomerates representing 110 broadcast and cable channels, as well as 11 top MVPDs.
The alliance between programmers and distributors across the broadcast and cable divide comes as linear TV ratings are sharply declining, and TV advertising is coming under inevitable assault from online competitors.
The VAB says it will provide advertisers research and insights as to the impact of TV advertising, as marketers become ever-more-perplexed about their ROI amid the ongoing TV audience atomization.
"Our industry is changing rapidly, however one constant is the unquestionable power of television to reach consumers with advertiser messaging," said Joe Abruzzese, president, advertising sales at Discovery Networks and inaugural co-chair of the VAB. "By broadcasters, cable networks and distributors coming together in this unprecedented way, VAB members will share expertise and insights, put forward original research and push toward a common goal of elevating television's leadership in driving product sales and brand affinity for clients."
Added Rino Scanzoni, chief investment officer for leading media buying firm Group M: "The time has come for the TV industry to be represented holistically with the power of the content superseding the differences in distribution. This will clearly advance the share of voice for the industry and support the initiatives that will provide incremental value to advertisers as technology, data and consumer choice change the dynamics of the medium."
For more:
- read this VAB press release
- read this Wall Street Journal story
- read this Mediapost story
Related links:
Cable upfront dropped 6 percent to $9.6B, advertising bureau says
Verizon to focus on ad-based business model for OTT video offering
Comcast to share viewer data with NBCUniversal