Everyone knows that streaming giants are rewriting the rules of television and digital advertising and beacuse of this we are witnessing a monumental shift. Major streaming video providers are stepping up, challenging Nielsen’s long standing monopoly in TV ratings, signaling a new era in ad measurement.
At the forefront of this shift is NBCUniversal, which has certified iSpot and VideoAmp as currencies for advanced audiences. In a bold move, they’ve also formed the Joint Industry Committee with heavyweights like Paramount, Televisa Univision, and Warner Bros. Discovery. This isn’t just about switching tools; it’s a concerted effort to develop multiple currencies and cross-platform measurement solutions for streaming video.
This change is driven by the need to adapt to a landscape where streaming platforms are burgeoning and audiences are increasingly fragmented. Networks are now compelled to offer the best technology and a suite of services that cater to agencies, advertisers, and consumers. Everyone involved has a vested interest in ensuring ad outcomes are relevant and optimized.
The transformation of TV consumption requires a corresponding evolution in currencies. These new metrics are crucial for a comprehensive system of cross-platform currency, essential in delivering the value advertisers and Connected TV (CTV) need in a dynamic market.
The essence of these new currencies lies in data—the new capital in the digital age. This includes identity, IP addresses, Automatic Content Recognition (ACR), and viewership data. These datasets, often sourced from a plethora of providers, are crucial in supporting a converged media consumption era.
However, the consumption landscape has changed dramatically. With channel fragmentation, evolving behaviors, technological advancements, and new regulatory frameworks, traditional systems are becoming increasingly inadequate. This scenario has led to the emergence of data clean rooms, offering new ways to understand who views and interacts with streaming video advertisements.
The need for a universal video currency is evident, but it’s the data behind the measurement that truly counts. Providers need data partners who understand the offline, household-level realities of viewer behavior and tendencies. This deep understanding is vital for translating data into meaningful insights for CTV.
In this context, the insights of industry experts like Alan Wolk, Co-Founder of TVREV, become particularly relevant. Wolk emphasizes the need for innovative tools that reflect the dynamic nature of viewer behavior in the streaming age. Yan Liu, CEO of TVision, adds to this by highlighting the complexity of audience engagement in the streaming world, suggesting a more granular approach to understanding viewer interaction.
Similarly, Jeremy Haft, CRO of Digital Remedy, underscores the importance of delving into viewer preferences and behaviors at a household level. This depth of data is critical for advertisers to effectively tailor their campaigns. Stacy Bohrer, VP of Buyer Development at OpenX, and Dave Morgan, Founder of Simulmedia, also emphasize the importance of integrating diverse data sets and the role of third-party data partners in providing nuanced insights into consumer behavior.
As the industry grapples with these changes, it’s clear that the search for a universal currency for streaming video is central to the narrative. Whether the industry will find a “new Nielsen” remains to be seen. The path forward involves stitching together and rationalizing disparate datasets to form an accurate picture of viewership and performance, a challenge that requires insights from various sectors of the industry.
The shift in TV and streaming video ad measurement is not just about adopting new technologies and data; it’s about reimagining how we understand and engage with audiences. The insights from industry leaders, combined with the ongoing efforts of major networks and committees, illuminate the path ahead, highlighting both the challenges and opportunities in creating a responsive, accurate, and comprehensive ad measurement ecosystem for the digital age.
