Nexstar Media is widely recognized for being the largest television station operator in the US. However, it also has a sizeable digital media business. Nexstar Digital is a subsidiary of Nexstar and has proprietary inventory, first-party data, as well as the technology in the digital media space. Nexstar is one of the top digital media stocks to buy now for 2020. The biggest strength of Nexstar Digital is its ownership of important data that drives measurable results.
Nexstar Digital Announces Deal with FreeWheel
Recently, Nexstar Digital announced a multiyear agreement with Comcast Company’s FreeWheel in June 2020. FreeWheel provides a host of solutions to the advertising industry. As per the agreement, Nexstar Digital gets to use FreeWheel’s Strate platform. Nexstar will now be able to offer its customers and agency partners the ability to send orders directly through their Strata workflow. It improves access for those customers to Nexstar’s premium digital inventory. The simple inventory access and automated ordering will improve efficiency and performance for Nexstar’s customers.
According to Wil Danielson, Nexstar Digital’s Head of Revenue, “Our agreement with FreeWheel is consistent with our priority to help our clients optimize high campaign volumes with precise targeting.” He further added, “By accessing Nexstar’s digital inventory and first-party data, marketers can seamlessly move budgets between linear and digital platforms, ensuring they reach the right consumers at the right moments.”
Best Media Stocks To Buy Right Now
The best media stocks to buy right now include Nexstar, ViacomCBS, and Sinclair Broadcast Group. Nexstar is America’s largest broadcaster and its wide footprint enhances the performance for publishers and advertisers. The digital media business of Nexstar offers scale for OTT and digital marketing to advertisers. ViacomCBS operated four well-known networks including channels like BET, Comedy Central, Nickelodeon, and MTV. Sinclair is the second-largest television station operator in the US after Nexstar and among the top media stocks.