Venerable magazine publisher Hearst these days makes all of its online advertising slots available to buy programmatically, using the new technologies designed to make buying and selling ads more efficient.

But that doesn’t mean the publisher thinks the new programmatic world is perfect.

“There’s a lot of work that needs to be done,” says Hearst’s Michael Smithin this video interview with Beet.TV. “The innovation that is real-time bidding paradigm-shifting for marketing. It empowers an advertiser to identify the audience that they specifically want to target and to construct a price that there are willing to pay in the moment. Smith holds has the title of SVP, Revenue Platform, Hearst Magazines Digital Media & SVP, Ad Platforms, Core Audience,

“That’s a brilliant innovation that still needs a lot of work to realise its full potential. It is less efficient than its inventors imagined it would be when they designed it. There is a lot of dysfunction, even, in how programmatic deals are executed today that over time will be worked on by smart people – the effectiveness and efficiency gains that were imagined will be realised.”

This video is part of series: Programmatic Video at a Turning Point, presented bySpotX. You find additional videos from the series here.