SpotXchange's latest ad skipping service, 'SkipIt,' which charges consumers a small fee to skip ads, will soon allow audiences to earn free skips, in exchange for engagement with a brand on its desired platform, says Michael Shehan, President and CEO, in this video interview with Beet.TV

In practice this means, if a brand is seeking to increase its 'likes' on Facebook, consumers can choose to do so, in exchange for a free skip, he explains.

SpotXchange launched SkipIt in April, in reponse to consumer frustration with online video ads, which translated into approximately 10 to 40 percent abandoment rates.

The new service aims to not only provide advertisers with data on who watches their ads, but pay publishers a higher effective cost per thousand impressions, while giving consumers more control over their online video experience.

Shehan explains more on the benefits of SkipIt and the response it has had from the industry, in this interview.

Nitya Rajan