As the TV industry shifts to a multi-currency marketplace, the primary perceived benefit is improved integration of cross-platform inventory to better enable transacting and counting of all ad delivery and audiences across all forms of viewing. However, lack of collaboration, new demands on systems, and process changes are creating roadblocks in the transition. Based on research with a cross-section of industry participants, the study also reveals:
- The transition is not a monolithic experience.
- The transition is happening in phases.
- The industry is in a “test and learn” phase.
- Multi-currency is the future of the premium TV/video marketplace.
- Panels are still relevant.
- Standards and collaboration are the catalyst for acceleration.
Latest Fintech News: AdsPostX Secures CitrusAd Partnership
This is according to a new study on the transition to a multi-currency TV advertising market commissioned by the Coalition for Innovative Media Measurement (CIMM), 4A’s and ANA. Conducted by Deloitte*, the study examines the benefits and challenges for different categories of industry participants and aims to help establish priorities for industry collaboration and cooperation.Deloitte interviewed 50 industry leaders and subject matter experts across six constituencies, and used qualitative analysis to find patterns and to identify perspectives on the transition. The exploratory approach and industry level perspective enabled the identification of the forces driving change, outline the benefits and challenges facing different categories of industry participants, and suggest priorities for industry collaboration and cooperation.
The study also identified how different organizations are at varying engagement levels of the multi-currency transition depending on their resource allocation and incentives to change:
- Media Agencies are driven by better measurement for clients and by cost and loss avoidance.
- Advertisers have a wide spectrum of motivations and engagement levels. Many large and sophisticated advertisers are driven by better measurement that will connect their TV spend to their overall marketing strategy, and potentially increased return on marketing investment.
- National TV networks are driven by more accurate representation of viewership and the potential for sales upside and yield gains.
“It’s exciting to see a consensus emerging across the industry that the multi-currency transition has a potential to deliver real benefits, including better measurement of cross-platform video services, new transaction opportunities, and a faster pace of innovation,” said Jon Watts, Managing Director, CIMM. “This is all hugely positive. At the same time, it’s clear that unlocking the full potential of the transition will require investment, careful experimentation, commercial flexibility and a willingness to take risks. Our priority at CIMM is to support the entire ecosystem, and this study provides tremendous clarity about where and how best to focus our efforts.”“The TV market is changing rapidly thanks to shifting consumer preferences, new data sets, distribution channels, monetization approaches and advertising models,“ said Ashwini Karandikar, EVP Media, Technology & Data, 4A’s. “TV measurement and currency have also evolved, but at a slower pace, resulting in an incomplete picture of unduplicated delivery and reach and frequency of ad campaigns. This, coupled with the pandemic and streaming wars, has altered the landscape and hastened change. Though the industry is in transition, and the future of TV currency is yet to be determined, the study reinforces how important collaboration, standardizatin, and consensus-building will be in the industry’s acceleration toward a multi-currency market.” “Through our research, we identified that organizations are at different levels of engagement in the multi-currency transition depending on their motivations, incentives to change, and resources available to commit to the transition,” said Mike Dean, Managing Director at Deloitte Consulting LLP. “Looking at the experiences and perspectives of those engaged in and driving the transition across the national TV marketplace has helped us to understand the dynamics and the relationships between constituencies, the processes that connect them, and the actions needed to go forward.” “One area of broad agreement among the constituencies is the need for certain common foundational standards to help ensure non-proprietary aspects are aligned and to reduce inconsistency and variance,” said Jackson Bazley, EVP, Measurement for Marketers, Data & Analytics, ANA. “It also underscores marketers’ and the ANA’s desire for neutral, objective, and transparent measurement solutions that are standards driven and validated through accreditation.”
Latest Fintech News: Defy Mortgage Created to Disrupt Traditional Mortgage Lending Norms
[To share your insights with us, please write to email@example.com]