8b. Presentation
Airport Network Programming Service Extension
Item No.: _8b_supp_ Date of Meeting: 10/24/2023 Airport Network Programming Service Agreement Amendment Jason Berg, Property Manager Aviation Commercial Management Geoffrey Foster, Interim Senior Manager Aviation Commercial Management Agenda • Background & Current Programming • Current Agreement • Proposed Amendment 2 Terminal Content Background • Jan 2019 – CNN Airport Network/Port new 5- year agreement for content services at SEA • Mar 2021 – ReachTV assumes agreement as CNN Airport Network leaves market • ReachTV is a Minority-owned Business Enterprise (MBE) – Subcontracts with local telecommunications Disadvantaged Business Enterprises (DBE) and Airport Concessionaire Disadvantaged Business Enterprise (ACDBE) to manage on-site daily operations 3 Current Programming ReachTV Current Programming • 33 TV display screens in designated gate areas, providing 24/7 programming • National & Business news, Sports (local, regional & national), Entertainment, etc. Port “Local Spots” • Six, one-minute segments per available hour 4 Current Agreement • Initial Term with renewal options – 3 years initial term, effective from January 1, 2019 – 2-year automatic renewal upon expiration of initial term • Expiration – December 31, 2023 with no holdover provision • Revenue provided via Minimum Annual Guarantee & advertising revenues – Revenue in 2022: $194,111 – Revenue estimated in 2023: $152,192 5 Proposed Amendment • Proposed Amendment – Adds three, 6-month extension periods with Port’s consent, which: • Enables continued television programming in airport terminal beyond current lease expiration • Maintains current revenue stream for Port • Minimum Annual Guarantee would remain at current level • Staff will continue to develop future state of terminal content services program 6 Thank You for Your Time! 7
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