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Digiday Programmatic Media Summit Fall 2019 | Tribune

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Presented by Grant Whitmore

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Digiday Programmatic Media Summit Fall 2019 | Tribune

  1. 1. Losing our Cookies Grant Whitmore, SVP and Chief Digital Operations Officer November 20, 2019
  2. 2. PAGE/SECTION TITLE NAME HERE 2 The Consequences of Our Junk Food Diet We have been eating cookies for a long time. This high-calorie tech is central to our business and represents a significant portion of the value exchange occurring between publishers, tech partners, and clients. Due to our long-term (collective) inaction, we are being forced to get healthier as a result of privacy concerns that puts the cookie and everything it stands for in the cross-hairs of browser companies and legislators. Some companies will not be able to withstand the shock to the system that this cookie-less future represents.
  3. 3. PAGE/SECTION TITLE NAME HERE 3 Why Now? According to Alastair Mactaggart, CCPA was born out of the creepiness he felt as a consumer being followed around by a shoe ad after having visited a retail website. The enabling technology behind that creepy shoe ad is, of course, the cookie. Mactaggart views these intrusions into digital privacy as harmful and unethical and got legislation passed that renders the use of the cookie essentially moot. Since GDPR, browser companies (only one of whom has a significant relationship to the advertising business) have sensed the opportunity for competitive advantage by tightening privacy controls, further undermining the cookies utility. Despite years of us telling each other than we were going to break the cookie habit to no avail, it looks like it’s for real this time.
  4. 4. PAGE/SECTION TITLE NAME HERE 4 The View From Tribune Publishing  Limited audience and revenue in Europe.  Pass-through of liability between ourselves and vendor partners created unease.  Decided to NOT engage and turned off EU member countries.  Ongoing changes in browser privacy settings/incognito mode has been an ongoing source of concern.  Significant impacts on core digital business.  Tech and product actively working to overcome existing hurdles, while new ones arise every day.  Broader scope of PI data than GDPR.  Sizable audience and revenue in CA.  CA legislation is merely the first of many.  Significant penalties for lack of compliance.  Cross-company effort required to comply. GDPR (2018) Browsers (2019) CCPA (2020)
  5. 5. PAGE/SECTION TITLE NAME HERE 5 Juggling This is Hard For some publishers, cookie- derived ad revenue represents nearly 80% of their operating revenue base. Legislative, advertising, and platform ecosystems are not in synch and vary from state to state. Publishers, advertisers, ad tech, and platforms are often running in different directions. Compliance is complex. UX is difficult. Tech and personnel impacts are expensive.
  6. 6. PAGE/SECTION TITLE NAME HERE 6 Impacts of Going Cookie-less Impacts all aspects of our customer relationship Represents significant portions of digital revenue—not just ads Vendor compliance is critical Severe financial penalties Uncovering the unknowns and unintended
  7. 7. PAGE/SECTION TITLE NAME HERE It’s going to be a tough 18-24 months for many of us in the space as we attempt to begin operating in a more privacy-focused environment. While there is some opportunity to pivot to contextual, many, many publishers will get left by the wayside. Publisher first-party data will be an important part of the equation, but for many of us, our distributed audience models mean that our files will not be nearly as big as what FACEBOOK and Google have access to. Advertisers are not equipped to pivot away from strategies that have worked for them, and will further concentrate dollars where they feel safest and where they can maintain efficiencies of scale. 7 What’s it Going to Look Like?
  8. 8. PAGE/SECTION TITLE NAME HERE The thing is, we do need this. Giving users more control over their privacy is a key to maintaining an open internet that provides safety and transparency. Moving back to contextual will provide some positive differentiation for some publishers versus the duopoly. The cookie will be replaced with a healthier alternative geared to toward enabling audience targeting without all of the unintended consequences of privacy intrusion. 8 Bright Spots

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