PILOT Initiative Tackles $2B Problem for Broadcasters
| RADIO ONLINE | Wednesday, February 22, 2023 | 3:58pm CT |
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 PILOT Initiative |
The National Association of Broadcasters' (NAB) innovation arm PILOT released the final report from its First-Party Data Direct-to-Consumer Accelerator. The report details a six-month long study on direct-to-consumer data strategies for broadcasters.
The digital advertising industry is phasing out the use of third-party cookies due to global regulations and changing user expectations. A study commissioned by PILOT and presented at NAB Show New York details how this could create a $2.1 billion loss in annual digital revenue for the broadcast radio and television industries. PILOT's accelerator program focused on mitigating revenue loss by examining how broadcasters can harness first-party relationships with their audiences. It also considered important issues such as content direction, product marketing and privacy compliance.
Nine broadcast companies participated in the six-month collaboration with support from the Google News Initiative. During the course of the program, participants met for high-level project sharing and ongoing education. During these gatherings, each company shared the progress of their individual projects and heard from industry experts on privacy and first-party data strategies. The results of the study are based on the work and output of the participating companies representing business, technology and audience engagement areas.
Additionally, PILOT commissioned an evaluation of the impact of the third-party cookie phase out in Europe and its impact on European broadcasters.
"Addressing this $2 billion problem for the industry is a high priority for digital leaders at broadcast companies," said NAB Senior Vice President of Emerging Technology and Executive Director of PILOT John Clark. "This report offers guidance with real examples for broadcasters. We can use first-party data to create more engaging content for consumers, while maintaining privacy standards."
The full report can be accessed here.
