I attended an event called #1000Flowers today with Addiply founder Rick Waghorn. It's purpose was to look at 'hyperlocal' advances and discuss what will fill the space left by newspaper decline. There were some really interesting developments worth being aware of.
One of the speakers was Jamie Conway, CEO of Made Television, winner of the OfCom Local TV licence for Newcastle. Here's a whistlestop guide to what he had to say.
- Local TV hasn't worked before due to positioning on the Electronic Programming Guide, which affects audience reach. This issue is being dealt with. - Local TV will be radically different to national TV so people should not expect the same. - There is a massive untapped market among brands who want to publicise local offers but can't afford national TV advertising. - Made Television is looking to average £10 per spot to deliver its business plan. - The average UK viewer consumes 90 minutes of mobile viewing a month compared to 4 hours and 4 minutes of TV a day. TV is still an important medium. - Local TV is Made Television's USP - no one else can enter this market because it is highly regulated and has barriers to entry. - There will be top of the hour news/sport/traffic and weather reports. - There will be a mix of lifestyle programmes and it will be more gritty than found elsewhere. - If BBC or ITV do it, Made Television don't want to. They can't and don't want to compete with bigger broadcasters.
Definitely a case of watch this space.