Sell-Side Effort Moves Closer To True JIC, Big Agencies Show Support At NBCU Event
- by Joe Mandese @mp_joemandese, February 8, 2023
A sell-side initiative to develop and certify multiple new ad currencies moved a step closer to becoming a tripartite JIC – or joint industry committee – this afternoon, as four agency Chief Investment Officers appeared on stage during an NBCUniversal event promoting it.
While the execs – Dentsu’s Cara Lewis, Havas Media’s Amy Ginsberg, Horizon Media’s David Campanelli, and Omnicom Media Group’s Geoffrey Calabrese – didn’t explicitly state that their organizations had officially joined, their presence and the tenor of their panel discussion implied it.
“We could have had the other three large [agency holding companies] on stage today, short of scheduling and logistics,” NBCU President and Chief Business Officer Krishan Bhatia said at the conclusion of the panel, implying that Interpublic's IPG Mediabrands, Publicis Media and WPP's GroupM were also on board.
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“That’s buy-side, No. 1,” Bhatia added, indicating the committee has a consensus of big agencies supporting it.
While the panel shed little light on how the proposed JIC would actually work, it made clear the necessity of forming one, and it also announced that it would hold its first official meeting in April, at which more details would be announced.
Asked by moderator MSNBC’s Stephanie Ruhle asked what everyone could expect at that event, OpenAP CEO David Levy quipped, “More chairs on stage.”
But according to executives familiar with the structure, the buy and sell sides of the committee are expected to have equal representation and voting rights on any development or certification of new currencies, with the Association of National Advertisers representing national advertisers.
I hope that the"execs" who claimed that the buyers and sellers would have equal votes---or veto powers----when it comes to developing and "certifying" the "new currencies" are right about this.
But more to the point, I'll repeat my question, "Does anybody think that the buyers and sellers are thinking seriously of abandoning audience "impressions" as their standard and basic "currency?" Perhaps MP should consider doing a poll on this among those who buy and sell national TV in excess of a certain amount---, say, $10 million----annually? I'd also include a question about Nielsen's chances to retain its top dog standing as the provider of such info by, say, next year.