The innovation and progress accelerating change in the video advertising industry have one thing in common: they would not be possible without radical collaboration.
Collaboration among buyside and sellside is what powers the U.S. Joint Industry Committee and its initiatives to certify cross-platform measurement currencies and build a cross-publisher streaming dataset. Between key updates on these initiatives at the JIC Summit @ Cannes Lions, Cara Lewis, Chief Investment Officer at dentsu International; Mike Bregman, Chief Activation Officer at Havas Media Group; John Halley, President, Advertising at Paramount; and Dan Robbins, VP, Ad Marketing & Partner Solutions at Roku took the stage for a panel conversation, moderated by OpenAP Chief Marketing Officer Brittany Slattery, to contextualize how the JIC's initiatives are powering more accurate and actionable cross-platform measurement, and the impact to both buyers and sellers.
Watch the full conversation above.
As new currencies come about, as new ways to buy come about, as we become more biddable, more addressable, there are opportunities to push ahead and find those efficiencies in the market at a faster clip.
- Mike Bregman
New currencies and new ways of buying have been popping up at a rapid pace over the last few years, and they are redefining video advertising. But, the industry must come together to define and build the infrastructure that will allow buyers and sellers alike to capitalize on the innovations. That's where the JIC comes in, and panelists agreed that the JIC's initiatives that are being realized right now are in service of unlocking doors to a more innovative and actionable media transaction ecosystem.
Buyers, in particular, have been asking for a model that allows for more advanced metrics for some time. "Our clients are asking us for customer lifetime value, they're asking us for cost per acquisition, they're asking us for all different kinds of outputs and inputs, Lewis stated. "We need everyone to be able to come together to bring them the solutions that they actually want. If we don't come together, then we can't bring them that solution."
From the sellside, Robbins agreed, echoing Lewis's call for more advanced metrics for planning, transacting and measuring. "Being able to pull all of these things together in a rubric is going to be increasingly important to cater to the diverse ways that marketers want to buy and think about video in the living room," he said.
Paramount will support every new measurement company that receives JIC certification, and we will support only those measurement companies who achieved JIC certification.
- John Halley
The JIC has already published Baseline Standards for Cross-Platform Video Currencies Cannes it unveiled its Measurement Certification Scoring Rubric, with the intention to have graded measurement company RFIs ahead of the next broadcast year. Paramount's Halley made perhaps the strongest statement yet in support of the JIC's certification efforts, committing that Paramount will support only the currencies that receive JIC certification.
Concurrently, the JIC's Streaming Data Service (SDS) is set to unlock a wildly valuable dataset, giving buyers transparency into census-level streaming viewership data. "We're collectively sitting on the truth," Halley said of publishers. Coming together to share first-party streaming data on an aggregated level won't only benefit buyers, but sellers, too. "[It's] going to significantly progress the quality of measurement."