- OpenAP, on behalf of the U.S. Joint Industry Committee (JIC), announced the initial requirements for premium video cross-platform currencies, in keeping with a press release.
- Streaming platform Roku and media agencies Dentsu, GroupM, Horizon Media, IPG Mediabrands, Omnicom Media Group, Publicis Media and RPA have joined the JIC, bringing major media buyers into a gaggle that was founded by major national programmers.
- The requirements span standards around big data, technology and infrastructure, interoperability, privacy, transparency, governance and transaction flexibility, cross-platform measurement, and cross-media transparency, media integrations and stewardship.
The JIC’s establishment of certification criteria requirements — even in the shape of easy minimum standards across several areas — represents a milestone in advancing a multicurrency future ahead of the 2024 upfronts. The group was formed in the beginning of the 12 months with plans to enable multiple currencies and establish cross-platform measurement solutions for streaming video.
Founded by major national programmers, along wth OpenAP and the Video Advertising Bureau (VAB), the JIC has taken a step forward by signing on top media agencies Dentsu, GroupM, Horizon Media, IPG Mediabrands, Omnicom Media Group, Publicis Media and RPA. Executives across investment, research and advanced activation function from these media agencies shall be a part of an operating group around the brand new standards, providing input and buy-in from the media-buying side of the business.
“Standardization across all measurement currencies is critical for our ability to scale a multicurrency future, and the infrastructure we create must work for each buyers and sellers. The announcement of the JIC’s initial set of necessities for cross-platform transactions is step one toward making a future for video promoting that reflects how persons are consuming video today,” in keeping with a joint statement by several media agency executives.
The standards include such “core foundational elements” as requiring big data to be at the middle of cross-platform viewership projections, with panels used for calibration; high-quality identity resolution that maximizes match rates; the support of knowledge clean rooms; an identity spine built on third-party sources; and full transparency into all datasets used and all methodologies applied.
“The industry is rapidly moving towards a multi-currency world, and while we’re still within the early days of the JIC, the conversation being had today is a positive advancement as we work to innovate recent and simpler methodologies for measuring outcomes like deduplicated reach and frequency, conversion, incrementality and omni-screen engagement that matter most to advertisers,” said Ashwin Navin, founder and CEO of Samba TV, in emailed comments.
Any currency established by the JIC shall also seek accreditation from the Media Rating Council (MRC) — the group whose suspension of Nielsen’s national rankings accreditation in September 2021 provided a gap for proponents of a multicurrency future where Nielsen’s monopolistic power is diminished. Despite the MRC move and the establishment of the JIC, Nielsen remains to be expected to stay a dominant force in measurement. The company in January launched its cross-platform measurement product and is currently working with JIC-holdouts Disney, Amazon, Netflix and YouTube.
Along with the media agencies, smaller networks including A+E Networks, AMC Networks and Hallmark Media have joined the JIC, as well as Roku. The latter marks the primary streaming-only platform to affix the trouble.
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