Sell-Side Platform Magnite 'Certifies' 5 Companies For 'Currency'
- by Wayne Friedman , June 16, 2022
Sell-side advertising platform Magnite has “certified” a group of measurement companies to be used as “currency” when it comes to advertising deal-making on its site -- Comscore, iSpot, Nielsen, Innovid, and VideoAmp.
The certification comes as Magnite looks to make measurement easier for its CTV advertising inventory, and to provide “more transparent programmatic transactions between buyers and sellers,” according to the company.
Magnite executives explained the need for a group of measurement companies to be used -- not just one currency -- arising from the lack of “a standardized form of measurement at play,'' said Kristen Williams, senior vice president of strategic partnerships at Magnite, in a release.
She added: “CTV advertising operates on many different currencies today -- from self-reported audience impressions to third-party outcome-based guarantees.”
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Bharad Ramesh, executive director, research & investment analytics at GroupM, in the release said Magnite’s range of measurement providers “will help us remain flexible as we evaluate various measurement services for transactional use-cases.
The day before, during an investor conference, Jon Steinlauf, U.S. chief advertising officer of Warner Bros. Discovery said industry looks to be focusing around four measurement companies as currency going forward: Nielsen, iSpot, Comscore, and VideoAmp.
Wayne, as all five vendors have been annointed as "currency", one can only assume that on common metrics they all report exactly the same results.
Could you imagine going into five financial institutions with a million dollar cheque to cash and find out they all came up with different amounts of money to pay. Of course it doesn't happen with banks as a dollar is a dollar because THAT is how a currency works.