The joint industry committee (JIC) formed in January by major media companies expanded to include media agencies Dentsu Media, GroupM, Horizon Media, IPG Mediabrands, Omnicom Media Group, Publicis Media and RPA.
The committee today announced its certification criteria for setting the value of cross-platform advertising transactions, or what are known as currencies, for premium video.
Led by advanced advertising company OpenAP on behalf of the JIC, the operating group also includes A+E Networks, AMC Networks, Fox, Hallmark Media, NBCUniversal, Paramount, TelevisaUnivision and Warner Bros Discovery; streaming platform Roku, as well as the VAB. They will work together to define a baseline set of requirements that are needed for measurement solutions to be transactional.
The currency requirements were sent to measurement companies such as Comscore, iSpot, Nielsen, SambaTV, TVSquared, VideoAmp and 605 on March 1. All of them were formally invited to participate in the upcoming JIC measurement certification program.
“Standardization across all measurement currencies is critical for our ability to scale a multicurrency future, and the infrastructure we create must work for both buyers and sellers. We believe it will ultimately spur competition and innovation in measurement,” Celeste Castle, executive president and head of research and measurement at Dentsu Media US; Bharad Ramesh, executive Director, research and investment analytics at GroupM; Lauren Chaplin, senior vice president and director of video investment at Horizon Media; Brian Hughes, executive vice president and managing director, audience intelligence and strategy at Magna, the investment and intelligence arm of IPG Mediabrands; Kelly Metz, managing director,
advanced TV activation at Omnicom Media Group and Helen Katz, executive vice president, research, at Publicis Media, said in a joint statement.
The JIC’s “Baseline Requirements for Cross-Platform Video Currencies” includes conditions such as transparency into data, measurement methodologies and audience identifiers, along with efforts to receive accreditation from the Media Rating Council.
“From the beginning, we have been clear that buyers and sellers need to work together to build a more sustainable future for premium video advertising. We believe that if we’re going to transform the way video is measured, the buying community must have a seat at the table in defining new standards,” David Levy, chief executive of OpenAP, said in a statement. “By reaching consensus on minimum requirements within this ambitious timeline, we are together demonstrating the significance and impact of industry-wide collaboration.”
Editor’s Note: The video above is Beet.TV’s interview of Levy in January, when the JIC was formed in collaboration with national television programmers Fox, NBCUniversal, Paramount, TelevisaUnivision and Warner Bros. Discovery, along with trade group VAB.
“This year in particular, there are more conversations around transacting on new currencies cross platform than ever before,” Levy said at the time. “Everyone is really gearing up for these new upfront conversations, and we need to be clear on how we can work together and how we can transact in this marketplace. It’s going to be very important that we put very clear guidelines out there and just make it more transparent how a buyer can actually transact in this environment.”