Deepening more alternative-currency agreements among major TV network-based media companies, Paramount Global has struck a deal with iSpot.tv to “measure and transact” national TV advertising campaigns using iSpot currency metrics for all of Paramount’s U.S. media and streaming properties.
In February of this year, NBCUniversal announced that measurement companies iSpot and VideoAmp were now “certified” as currencies for advanced audiences.
This followed an NBCUniversal announcement in November 2022 that a number of advertising clients were viewing iSpot data as currency for some of their upfront cross-platform buys.
For the iSpot/Paramount deal, the companies say they are “completing technology integrations to enable fast, seamless advertising transactions” inside of Paramount’s proprietary and licensed systems” -- to give brands and advertisers greater choice in campaign activation.
The deal is part of Paramount’s ongoing, industry-wide effort to support what it says is a “multi-currency” future.
“We are committed to supporting all new currency providers certified by the U.S. Joint Industry Committee (JIC),” said John Halley, president of Paramount Advertising, in a release. In September, Comscore, iSpot and VideoAmp got JIC's conditional certification for currency measurement.
The Joint Industry Committee (JIC), started up in January of this year, was formed around major TV-media sellers, then joined by a number of media agency groups. The JIC plan is to provide alternatives for Nielsen measurement that “currency” buyers and sellers have used for decades.
Paramount expects to measure and transact against iSpot data starting in the first quarter of 2024.
Halley added: “we look forward to bringing greater transparency and flexibility to the way TV is transacted and measured.”
Among other recent “currency” efforts for media sellers, in June of this year, Byron Allen’s Allen Media Group struck a deal with VideoAmp making that measurement company its primary and preferred currency.
In March, iSpot and Nexstar Media Group’s’ The CW announced a deal to measure cross-platform premium video campaigns and sponsorships associated with the 2023 LIV Golf Tournament.
Then in September, iSpot got the seal of approval from not-for-profit industry self regulatory body the Media Rating Council, giving iSpot its first accreditation ever for its national TV ad occurrence data.
The iSpot national occurrence data is based on two million TV advertising commercials in the iSpot ad catalog from 55,000 advertisers promoting over 100,000 products.