The evolution of the “currency” for premium video advertising has seen significant changes.
OpenAP, an advanced advertising company founded by most large television networks’ owners, announced Monday that it would create a joint industry commission to concentrate on video currency. The intention is to provide multiple currencies in the future, before the 2024 upfront.
Warner Bros. The plan is supported by Discovery, NBCUniversal and Fox Corp. as well as Paramount Global, TelevisaUnivision, Fox Corp., Fox Corp., Fox Corp., Fox Corp. and Fox Corp. Warner Bros. Warner Bros. The Hollywood Reporter In an interview, they stated that other programmers and publishers would be joining them in the near future.
Bhatia stated, “I am confident that we will have additional members join in quick order in the coming weeks or months.” We’re already getting positive feedback from programmers.
However, any new members must be focused on long-form premium video (sorry TikTok) and willing to share their streaming data (more details below). In the streaming space, Disney and Netflix are two of the most prominent players. Both have recently launched new tiers for ad-supported streaming.
Nielsen is the measurement company that has held the television currency market for decades. Its panel-driven products have been a dominant force, but in recent years, other companies and products from Nielsen have helped to complement those efforts.
Advertisers, media buyers and programmers must have a common currency in order to transact meaningfully.
According to the new committee, premium video will be available in multiple currencies. This is for marketers and programmers. It should be mentioned that Nielsen will be among those currencies.
Bhatia said that there was some alignment and cohesion around the necessity for it, as well as how it should be done and with whom. There are a few new currency and measurement providers who have become the leader, along with the incumbents. However, it wasn’t fast enough to take full advantage of the chance to measure cross-platform premium videos in a faster, more exact, and more efficient manner.
The companies have also agreed to make a programr data set which will bring together first-party viewership data of their streaming services. (For example, think Paramount+ and HBO Max or Peacock). OpenAP infrastructure.
To accelerate measuring efforts, the group plans to get viewership data audited independently by an auditor. It also intends to collaborate with other groups such as the Video Advertising Bureau (VAB), Interactive Advertising Bureau[IAB]Association of National Advertisers (“ANA”) and other trade organizations.
Advertisers and agencies will have the option to select which currencies they wish to transact.
We want to ensure that standards are being met and common terms are used to define impressions, views, and how streams are calculated. Additionally, we want each programmer group to look at the issue from the same perspective and all measurement companies, whether it be Nielsen, VideoAmp or ComScore, to have the same definitions,” stated Jim Keller, Warner Bros. EVP of Digital Ad Sales and Advanced Advertising. Discovery. We don’t believe the industry can move forward if different approaches are used to look at the same data. We believe we can move the industry forward together if everything is done in privacy-compliant manner.
OpenAP published a joint statement attributed, in part, to Jeff Shell, Paramount CEO Bob Bakish and Wade Davis, CEO of TelevisaUnivision, Warner Bros., as an indicator of the importance of this move. Discovery CEO David Zaslav.
The CEO stated that the sustainability of premium video advertising depends upon an ecosystem for measuring which is independent, transparent, inclusive and reflects how all consumers consume premium video content. This includes multiple devices, connections and screens. We can work together and speed up the implementation of a multi-currency future by establishing this JIC. This will benefit consumers, advertisers and agencies.