CANNES — Sometimes, you wake up to find some of the most seismic and long-anticipated changes have already happened.
For advertising, at the center of this change is the transition to multicurrency measurement.
But that is a process that Comscore’s Chief Revenue Officer, Carol Hinnant, believes has already been successfully undertaken.
Navigating the Multicurrency Transition
“I think it has happened. It has transitioned,” Hinnant confidently states, in this fireside discussion during Global Leadership Summit on Data & Measurement at Cannes Lions 2023.
“Over the last two years, we have really achieved a multicurrency status.” She cites the upfront this year as a significant milestone, with “the majority of the major players going to the marketplace saying ‘we are transacting on multiple currencies’.”
Hinnant acknowledges that the current market situation is still in progress and may drag out longer due to market conditions.
Overcoming Agency Challenges
Despite the progress, Hinnant acknowledges that challenges remain. She notes that while Comscore data is flowing through agencies and major systems, there are still issues that need addressing.
“We’re all operating our businesses with fewer people. And so no matter the data flow, you still have to have people work on that,” she says.
To help overcome these challenges, Hinnant believes that measurement companies need to “help solve some of these problems by making the data interoperable”.
The issue of disparate data from different sources is a common concern for agencies. To address this, Hinnant reveals that Comscore has invested in ‘personification’. “That’s something that we are doing, we’re rolling out,” she says, adding, “we will be personified at the national level in the top 50 markets”.
Last year, the Media Ratings Council said it was putting Comscore TV and Comscore Markets through its accreditation process, which would make it a recommended TV measurement providers.
Hinnant says that Comscore is heavily invested in the process and is awaiting MRC’s decision.
“We have found that in working with them, it’s been a collaboration,” she says, adding, “we believe that our measurement is very important to the industry.”
You’re watching coverage of the Global Leadership Summit on Data & Measurement at Cannes Lions 2023, presented by Comscore, LiveRamp & LoopMe. For more videos from Beet.TV’s Cannes Lions 2023 coverage, please visit this page.