Yahoo Finance TEGNA (TGNA) and Comscore Collaborate for Audience Measurement
TEGNA TGNA and Comscore SCOR have announced a multi-year agreement for local linear and cross-platform audience measurement. This comprehensive deal solidifies the latter’s position as a key measurement partner for TGNA across all its markets.
Under the terms of the agreement, Comscore will provide essential measurement metrics covering TEGNA's local TV, major affiliates and digital operations. As a prominent player in the media landscape, TGNA owns 64 local news brands spanning 51 markets, positioning itself as one of the largest and most geographically diverse broadcasters in the United States.
With a substantial presence, TEGNA is the largest owner of Big Four affiliates in the top 25 markets among independent station groups, reaching nearly 39% of all TV households nationwide.
This data, coupled with SCOR's advanced cross-platform capabilities, empowers TEGNA with a comprehensive audience view encompassing linear, CTV and digital platforms. TGNA will use these valuable insights to help advertisers improve their campaigns for better results.
The Zacks Consensus Estimate for TGNA’s 2024 revenue subscriptions is pegged at $1.57 billion, indicating a year-over-year increase of 6.48%. The consensus mark for 2024 earnings is pegged at $3.29 per share, indicating year-over-year growth of 89.08%.
TEGNA Inc. Price and Consensus
TEGNA Inc. price-consensus-chart | TEGNA Inc. Quote
TGNA Faces Competition in the TV & Radio Broadcasting Market
The TV and Radio Broadcasting industry involves transmitting audio or video signals via radio waves to receivers, allowing people to access a wide range of information and entertainment globally. These platforms offer news, sports, music, talk shows and diverse content to audiences.
According to Report Linker, the global TV and Radio Broadcasting market reached $431.1 billion in 2023 compared with $407.41 billion in 2022, witnessing a compound annual growth rate (CAGR) of 5.8%. Projections suggest that it will reach $523.64 billion by 2027, witnessing a CAGR of 5%.
TEGNA’s WQAD has secured a new agreement with the Milwaukee Bucks, marking the team's return to broadcast television in the Quad Cities area. This partnership will make Bucks games accessible to nearly 240,000 households and more than 384,000 individuals in the Quad Cities region.
Shares of this Zacks Rank #4 (Sell) company have lost 10.8% year to date against the Zacks Consumer Discretionary sector’s growth of 3% due to stiff competition in the market from Comcast CMCSA and EchoStar SATS.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Comcast, headquartered in Philadelphia, holds a prominent position as the leading multinational telecommunications and media conglomerate in the United States. It is also actively involved in producing feature films and television content for both traditional broadcast and cable platforms, and operates theme parks.
EchoStar, an American television service provider, owns the direct-broadcast satellite service and the over-the-top IPTV service called Sling TV. The television service provider offers a wide array of high-definition programming on local, regional and national levels. Additionally, SATS offers Latino and international programming packages, providing more than 300 channels in over 20 languages for its subscribers.
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