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Revolutionizing Media Measurement: TEGNA (TGNA) and Comscore Join Forces Revolutionizing Media Measurement: TEGNA (TGNA) and Comscore Join Forces

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Revolutionizing Media Measurement: TEGNA (TGNA) and Comscore Join Forces

Diving into a deep-seated collaboration, TEGNA TGNA and Comscore SCOR have sealed a multi-year agreement aimed at local linear and cross-platform audience measurement. This landmark deal cements Comscore as a pivotal measurement partner for TEGNA, spanning all its markets and territories.

Immersed in this arrangement, Comscore is set to deliver crucial measurement metrics covering TEGNA’s local TV landscape, major affiliates as well as digital operations. Positioned as a heavyweight in the media sphere, TGNA commands 64 local news brands spread across 51 markets, establishing its presence as one of the largest and most geographically diverse broadcasters in the United States.

Surging forth with dominance, TEGNA reigns as the primary owner of Big Four affiliates in the top 25 markets amidst independent station groups, reaching an impressive slice of nearly 39% of all TV households nationwide.

Married with SCOR’s cutting-edge cross-platform capabilities, TEGNA now wields a holistic audience perspective encapsulating linear, CTV, and digital platforms. Armed with these invaluable insights, TGNA aims to aid advertisers in optimizing their campaigns for enhanced outcomes.

The Zacks Consensus Estimate forecasts TGNA’s 2024 revenue subscriptions to hit $1.57 billion, signaling a 6.48% uptick year-over-year. The consensus projection for 2024 earnings stands at $3.29 per share, showcasing a notable 89.08% surge on an annual basis.

Upholding TEGNA’s Market Position

The TV and Radio Broadcasting sphere serves as a conduit for disseminating audio-visual signals via radio waves to receivers, offering a plethora of information and entertainment worldwide. The global TV and Radio Broadcasting market soared to $431.1 billion in 2023 from $407.41 billion in 2022, manifesting a robust compound annual growth rate (CAGR) of 5.8%.

Forecasts hint at a further climb as the market is projected to crescendo to $523.64 billion by 2027, propelled by a 5% CAGR. TEGNA’s WQAD has inked a fresh deal with the Milwaukee Bucks, heralding the team’s revival on broadcast television in the Quad Cities domain. This partnership unlocks access to Bucks games for almost 240,000 households and over 384,000 individuals in the Quad Cities vicinity.

Pitted against stiff competition in the TV and Radio Broadcasting arena, TEGNA has encountered a 10.8% descent in shares year to date vis-a-vis the Consumer Discretionary sector’s 3% growth, battling it out with rivals such as Comcast CMCSA and EchoStar SATS.

Transitioning into a fresh realm, Comcast, hailing from Philadelphia, towers as a premier multinational telecommunications and media conglomerate in the U.S. It stands as a key player in film and television content production for both traditional broadcast and cable formats, in addition to overseeing theme parks.

On the flip side, EchoStar, an American television service provider, steers the direct-broadcast satellite service alongside the over-the-top IPTV service christened Sling TV. This provider of television services dishes up a rich array of high-definition programming at local, regional, and national echelons. Besides, SATS extends Latino and international programming bundles, proffering in excess of 300 channels in over 20 languages to its subscribers.

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This contender could potentially rival or surpass other renowned Zacks’ Stocks Set to Double like Boston Beer Company, which skyrocketed by +143.0% within a mere 9 months, and NVIDIA, which registered a phenomenal boom of +175.9% in the span of a year.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.