The last couple of years has seen a veritable Cambrian explosion of alternative TV currency and measurement systems – but the emerging evolution needs a helping hand before it settles down.

That is the view of many industry executives who welcome the recent creation of a Joint Industry Committee (JIC) to iron-out ecosystem differences.

In this video interview with Beet.TV, Sean Muller, Founder & CEO, iSpot.tv, explains why he welcomes such collaboration.

The importance of collaboration

Muller explains that measurement has been using big data for years, while currency has not. Measurement now supports exact ad ratings, while currency only supports 15-minute averages.

Moreover, current measurement includes verification, while legacy systems rely on self-reported network post logs.

Additionally, modern measurement can be connected to advanced audiences and business outcomes, while currency remains an analog system that needs to catch up.

Dentsu Media, GroupM, Horizon Media, IPG Mediabrands, Omnicom Media Group, Publicis Media, RPA join JIC to Help Set Standards for Premium Cross-Platform Video Ad Currencies

Beyond legacy

If that illustrates the problem, Muller says he can see a solultion.

He suggests that the advertising industry needs to come together to create new standards for currency.

Muller believes that a collaborative approach will help the industry move forward and align with the advances that have occurred in measurement over the past decade.

The shift to new standards will not be without challenges, as the industry must continue to operate using both new and old methods during this transitional period. However, Muller believes that this effort is necessary, stating that “anyone that’s not proactively doing it is going to be left in a not so good situation.”

Spotting the future

iSpot.tv is a real-time TV ad measurement and attribution platform that helps brands, agencies, and TV networks measure the effectiveness of their TV advertising campaigns.

The platform collects data on TV ads from millions of smart TV households across the United States and provides real-time insights on TV ad performance, creative messaging, and audience engagement. It offers a suite of tools to measure the impact of TV ads on website traffic, online conversions, and sales.

Additionally, iSpot.tv provides competitive tracking, creative analytics, and audience insights to help advertisers optimize their TV ad campaigns and make data-driven decisions to maximize their ROI.

You’re watching “The TV Upfronts in Transition,” a Beet.TV Leadership Series presented by AudienceXpress, . For more videos from this series, please visit this page.

By Robert Andrews on @robertandrews