SAN JUAN, Puerto Rico – Media companies this year are teaming up a bigger variety of audience measurement providers as they showcase their programming for brands and agencies for upfront advertising sales. Paramount has worked to evaluate newer datasets and metrics that to set the value of advertising transactions, or what are known as currencies.
“Paramount has a lot of skin in the game when it comes to measurement and new currencies,” Colleen Fahey Rush, executive vice president and chief research officer at Paramount, said in this on-stage discussion with consultant Joanna O’Connell at the Beet Retreat San Juan. “We have a portfolio that includes broadcast network, a movie studio, a portfolio of cable networks and several streaming services.”
The COVID-19 pandemic exposed some of the deficiencies in audience measurement, especially as millions of consumers signed up for streaming services as a source of entertainment while stuck at home.
“We also know that when the past couple of years with COVID that it really shined a spotlight on how incredibly fragile a panel approach to measurement is, and it just introduces a ton of risk for those of us in charge of forecasting and optimizing our inventory and that’s just: full stop, can’t continue,” Fahey Rush said.
Paramount introduced a blueprint at the Beet Retreat to share its learnings about media currencies. Industry adoption and support are necessary for newer currencies to be viable.
“It’s not up to just one publisher or even just the publisher part of the ecosystem,” Fahey Rush said. “To make this move forward, i’s the advertisers, it’s the agencies, it’s the vendors and it’s the publishers.”
You’re watching coverage of Beet Retreat San Juan 2023, presented by LiveRamp, Madhive, Magnite, Paramount, T-Mobile Advertising Solutions and VideoAmp. For more videos from the Beet Retreat, please visit this page.