Digital radio platform iHeartMedia on Monday announced the launch of a programmatic private marketplace (PMP) for digital radio in the U.S.
The private marketplace will allow select programmatic buyers to access iHeartMedia’s radio inventory across its properties on iHeartRadio, the company's digital music and streaming service. Agencies and brands will be able to programmatically target iHeartRadio’s audience using a combination of first- and third-party data segments.
IHeartMedia offers consumers free digital listening to its 858 live radio stations across the country through iHeartRadio. The digital audio service has more than 85 million registered users and more than a quarter billion U.S. listeners each month, according to the company.
Offering a programmatic approach to buying iHeartRadio's digital listening audiences represents a natural extension of iHeartMedia's direct sales and broadcast programmatic initiatives, according to Brian Kaminsky, president of programmatic and data operations for iHeartMedia.
"The launch of this product is exciting because it deepens what we can do with iHeartRadio's streaming audio ad inventory, going beyond the usual open marketplace deal that doesn't appropriately value the premium nature of our inventory," Kaminsky told Real-Time Daily via email. "Now, we have the ability to invite our best customers to buy programmatically at agreed-upon floor and fixed rates, and predictable impression volumes.
"Even more important than the defined nature of the transactions is the ability to leverage data on the platform," he added. "This new service puts iHeartMedia’s digital audio ad offerings on par with the private marketplace and programmatic direct deals that have previously only been available with display ads."
AdsWizz’s programmatic platform will power iHeartMedia’s PMP and offer programmatic guaranteed, private marketplace, and open auction opportunities to its advertising partners. With AdsWizz's technology, iHeartMedia will be able to take advantage of its first-party and partner data to fully leverage programmatic buying.
Last spring, iHeartMedia announced a programmatic and automated ad buying private network for its broadcast radio stations, powered by cloud-based provder Jelli.
“Bringing data and programmatic capabilities to the broadcast and digital radio space, iHeartMedia becomes a highly valued partner that is uniquely positioned to help companies drive optimal business outcomes,” stated Seth Goren, senior vice president, media strategy and analytics, Discovery Communications.