Local TV rethinks news for a national audience

Several local TV players in the US are eyeing up the national advertising pot and see news as a way to tap into a significant source of revenue.

Context

The Hollywood Reporter notes that while the challengers are taking very different approaches they are united in the idea of leveraging the news-gathering operations of the companies’ local stations. 

The contenders

• Nexstar (199 TV stations in 116 markets): its NewsNation cable channel now incorporates reporting from The Hill, the digital news brand it acquired earlier this year. 
• Sinclair Broadcast Group (184 stations in 86 markets): The National Desk, an evening newscast on 64 stations and on its national streaming service STIRR, promises to deliver “news for a national audience from a local perspective”. 
• E.W. Scripps (61 stations in 41 markets): its streaming platform Newsy is now a 24-hour online channel that is also available over the air in 90% of the country.

The opportunity 

As an election year, 2020 generated more than $2.5bn in advertising revenue for the three big cable news outlets – CNN, Fox News and MSNBC. If their news offerings can get local TV companies even a small percentage of that it could make a big difference to their bottom line. 

Sourced from Hollywood Reporter