If you’re a major television advertiser or someone from a media agency with responsibility for a major advertiser's television budget, then you will have seen the Upfronts season grow from something like a standing start ten years ago into the calendar juggling nightmare that it can be today.
What’s an Upfront?
Upfront events are a US import that emerged as a product of the particular way that television inventory is bought in that country. In simple terms, television inventory is bought up-front in the US and the events held at the start of key sales periods are a way for television networks to showcase their upcoming shows to potential advertisers and their agencies, and to get them to commit to the inventory up-front: Hence the term: Upfront
In Australia, we buy television somewhat differently, typically locking in volume and share commitments on an annual basis, with the actual inventory purchased on-screen throughout the following year using the achieved discounts as a result of these deals as the basis for trading rather than buying up-front, as per the US.
Before we go on, yes, I know it’s not all about television and television shows and it’s more about screens, tech and data partnerships these days.
Are we good?
OK, let’s proceed...
I recall attending my first Australian upfront event in Sydney in around 2009. Back then they were a bit of a novelty, but now it feel likes everyone is doing them including all of the television networks, the big digital players, some of the out-of-home companies, even cinema.
I’m certainly not here to suggest that the content is not valuable: It is.
All good advertisers and their agencies should be aware of what’s new in the industry and how those things can help them drive more effective returns for their advertising investment.
What I would like to suggest is that there has to be a better way of holding these upfront events than asking busy marketers and media executives to attend up to 10 separate upfront events every October and November, many of them requiring an overnight trip interstate to attend.
As a brief aside, this approach is far from family-friendly for those of us with young children and responsibilities like a school drop-off schedule that we need to keep in order to maintain that sadly elusive quality in the media industry: Family harmony.
Frankly, I don't want to keep having to ask my wife "I'm going to Sydney again for the 'x' up-fronts, are you OK to look after the kids for a couple of days?", but I digress.
We have a lot of events in the marketing and media industry. I don't know about you, but to me it feels like we're reaching peak event, but at the risk of creating another one, why doesn’t someone create a two day event, of genuine value, into which all of the key media owners who want to host up-fronts could purchase a two-hour slot with which to promote their new offerings?
It would be a lot more convenient for everyone and enable more of the relevant people to attend and get a complete picture of what’s on offer for the next year: I can only imagine that it would also result in a huge cost saving as well.
Call it whatever you want; Upfront Expo, Media Week, Advertising Week, I don't care, but let's do it.
What do you think?
You know it makes sense.
This was first published on LinkedIn and has been republished with permission.