<div>NBCUniversal proclaimed “legacy” as its byword as it kicked off the annual broadcasting television advertising upfronts. Upfronts themselves represent legacy, historically the week when marketers and networks begin the negotiating dance over the major advertising commitments for the next year.Perhaps the most “legacy” things about NBCU’s annual upfront presentation may have been that it still takes place in Radio City Music Hall, as iconic a performance venue as the media business has in the U.S., and that it took place at all – CBS’s upfront presentation has been gone for years now. NBCU’s chest-thumping about legacy is a worthy man bites dog story given the rise (and seeming fall) of Peak TV, the daily content deluge on social media platforms and an advertising marketplace fixated on “real-time,” “AI-native,” “performance marketing” deployed to “precisely target niche audiences.” It might be the ultimate play for authenticity in a world today where chart-toppers are here and gone and there is little transparency in much of digital advertising.In line with 21st century custom and practice, NBCU, led by its Chairman of Advertising Mark Marshall, dedicated part of its presentation to the prescribed set of new data analytics tools and dashboard capabilities for its brand advertisers. But those felt more like checking a box. NBCU’s presentation was far more about the “show” in show business, and it wore its heart on its sleeve rather than hiding it under a green eyeshade (talk about a legacy reference). <section id="whats-legacy"><h2>What’s a legacy? </h2>NBCU’s Marshall said it best himself when, rather than deflecting the definition of NBCU as “legacy TV” he declared, “[L] egacy is not a word we shy away from. It’s our superpower. And we’re proud of our legacy because our legacy includes working with all of you [advertisers].”Marshall’s lean-in makes great sense for NBCU, but what exactly is legacy in the tumultuous world of today? To some degree, to paraphrase the late Supreme Court Justice Potter Stewart, “You know it when you see it.” Stewart was actually trying to define obscenity, but you get the point. Today Show host Savannah Guthrie – and it was wonderful to see her live - talked about NBC’s long-time role as an “influencer,” which she noted “must be built over time.” And The Tonight Show’s Jimmy Fallon observed that people often focus on what’s new, but “it’s nice being a contributor to something that has been a part of people’s memories for a long time.” </section><section id="how-does-nbcu-define-its"><h2>How does NBCU define its legacy? </h2>There’s no cognitive dissonance in pairing NBCU with legacy, but in TV it’s not as easy as you think to nail it. It’s not about the “platform” as NBCU today, with broadcast, cable, streaming, a movie studio and theme parks, little resembles the company of its birth. NBC is celebrating its 100th anniversary this year, and the company began in 1926 as a radio network. Yet GE sold the radio operations 40 years ago almost as soon as it bought it. There are a handful of broadcast networks today, but is there a warm and fuzzy feeling from advertisers or consumers over transmitter towers and FCC regulations? Movies are certainly a legacy business, and NBC purchased Universal Studios in 2004. But despite plenty of legacy movie titles from Frankenstein to Jaws to Jurassic Park to Schindler’s List to Despicable Me, the studio itself doesn’t have the brand cache of Disney or Warner Bros. in the eye of the public. Of course, the upfronts are all about TV – however we define that today – but even there, it isn’t a simple equation to describe what NBCU, or any legacy network, brings to that table. The NBC broadcast network has been home for some of the most iconic shows in TV history, featured throughout the upfront presentation, from Howdy Doody to I Dream of Jeannie to The Office. But NBC itself did not actually produce these shows, and NBC doesn’t even own shows such as Friends, Seinfeld and ER.We comfortably think of the stars on the upfront stage such as Tiny Fey, Tracy Morgan and Jane Krakowski as “NBC stars,” but we haven’t had a studio system in more than half a century. Actors have long been non-exclusive and take their wares to the highest bidder with the best content. Can anyone own Jamie Lee Curtis (the producer of a new NBC show)?In the end, you’ll know NBCU’s legacy when you see it. Maybe the authenticity is in large measure about effective packaging. Who brings you all these things that “engage” audiences (in today’s advertising parlance), trigger warm memories and contemporarily connect with genuine human emotions? That’s the NBC special sauce: how much more advertisers spend with NBCU and its legacy given the sea of media choices is the evergreen challenge. </section><section id="legacy-has-its-limits"><h2>Legacy Has Its Limits</h2>Sports was of course front and center for NBCU’s upfront, as the company remains the TV and streaming home of the Olympics, the NFL, NBA, the Kentucky Derby and Major League Baseball. But how far does legacy extend here? The clips NBC rolled out for the return of baseball and the NBA to the network included Hank Aaron in 1975, Kirk Gibson in 1988 and Michael Jordan from the 1990s. Those still mean a lot to many, but try selling my grad students on any of these (OK, Jordan’s shoes still might win). Leveraging legacy does have a shelf life. The upfronts also created a bit of an awkward first public stage-sharing between NBCU and its spin-off Versant Media. NBCU’s ad sales folks now represent the Versant cable properties – including CNBC, E! and USA. These networks and their programming were represented on stage but did feel a bit like a homework assignment for NBCU. Morning Joe’s Joe Scarborough even referred to the company as “Ver-SAHNT” and how much legacy can you sell for MSNOW, which wasn’t able to keep its MSNBC name? It’s a work in progress - you can only stuff so much legacy in a box. </section><section id="nbcus-legacy-comedy-includes-laughing"><h2>NBCU’s legacy of comedy includes laughing at itself.</h2>One of the joys of the NBCU upfront – and an important part of its authentic legacy – was comedy. It’s not just its history of sitcoms and late-night programming, but an ability to poke fun at its own corporate imagery. SNL began poking fun at NBC from the beginning, mocking its limited network budget by offering George Harrison and the Beatles a total of $3,000 on-air to reunite on the show (“You can give Ringo less if you want”). The upfront didn’t refrain from NBC poking fun at itself, including Seth Meyers as the wrap-up and noting among other things how great the last year was with the Super Bowl and the Olympics and that “it’s too bad we have to sell [you] this upcoming year.” Not as snarky as Jimmy Kimmel towards ABC, but tongue planted firmly in cheek throughout. And it shouldn’t go unnoticed how prominent a place the show 30 Rock had in the presentation, including a dazzling Broadway-style number with Jane Krakowski and Tracy Morgan (briefly). That show was hilariously ruthless not only in poking fun at the leadership of the NBC network, but of its corporate parent Comcast, which in the show carried the fictional but hard-to-miss name of “Cabletown.” Can you imagine a show on Amazon Prime mocking the office politics of Jeff Bezos? Probably not. Legacy doesn’t always have to mean reverence and particularly in our fraught times that is indeed a welcome attribute.</section></div>

康卡斯特

電信業 ETF - Vanguard

通信服務 ETF - SPDR

標普全球電信股指數 ETF - iShares

休閒娛樂 ETF - PowerShares

NBCUniversal 在其年度前瞻發佈會上強調了其 “遺產”，突顯了其在廣告領域的歷史重要性。此次活動在無線電城音樂廳舉行，展示了 NBCU 在不斷變化的媒體環境中對真實性的承諾。董事長馬克·馬歇爾將遺產描述為 NBCU 的 “超級力量”，而像薩凡納·古斯里和吉米·法倫這樣的主持人則回顧了該網絡長期以來的影響力。儘管在當今碎片化的媒體環境中定義遺產面臨挑戰，NBCU 旨在利用其豐富的歷史來吸引廣告商和觀眾

NBCU 依靠傳統進行廣告預售：這會是電視行業的未來嗎？