Dive Brief:
- Entertainment and content creator network Fullscreen Media is the latest company to drop out of IAB's upcoming Digital Content NewFronts, according to Adweek. Yahoo and BuzzFeed previously announced pulling out of the event, with BuzzFeed saying it needs to "build deeper engagement with our clients."
- Fullscreen Media's partners include NBCUniversal, Fox and Fremantle Media, and its platform receives more than 7 billion monthly views, per Adweek. The decision to drop out was described as "unusual" by Fullscreen General Manager Pete Stein, writing in a statement to VideoInk. In an interview with Adweek, Stein explained the event has become overcrowded and that the digital content industry has in some ways matured past NewFronts.
- Fullscreen will instead independently host two events for marketers — one in the spring and one in the fall. The sixth annual NewFronts is being held May 1-12 in New York City. NewFronts is a marketplace for brands and media buyers to get acquainted and be pitched on the latest in digital content.
Dive Insight:
More media companies pulling out from NewFronts points to the rapid pace of the digital ecosystem and the constancy of demand for more digital content. Some platforms might view a marketplace model like NewFronts as a little antiquated in that regard — a relic of a time when broadcasters would meet annually with TV advertisers to commit to major programs, which doesn't really accommodate a more in-flux, disruptive digital model.
When BuzzFeed dropped out earlier in March, SVP of marketing Laura Henderson underscored the issue, noting to Adweek that its "doing business all year round" in the digital content space.
"We happen to see huge power when our clients engage with us upstream, and we want to inform them how to unlock new opportunities," she told the publication.
That's not to say NewFronts is losing its relevancy, per Stein. Twitter, for example, is joining the event for the first time ever as it pivots toward a more video-heavy focus and looks to convince marketers of its value in that area.