• by Joe Mandese  @mp_joemandese, August 13, 2024

The U.S. Joint Industry Committee (JIC) has certified iSpot as an advertising currency, making it the first recommended for transacting cross-platform (linear TV and CTV) ad buys based on personified demographic-based audience guarantees.

iSpot, which had been operating under conditional certification since April, joins Comscore and VideoAmp as alternative ad currencies fully certified for "transactability" by the JIC.

Originally, the JIC said it planned to certify iSpot in June in time to be used to transact advertising buys in the 2023-24 upfront media-buying season, which is essentially completed now, and did not explain what caused the delay, but it described iSpot as a "next-generation methodology" meeting its criteria for transacting ad buys guaranteed for both average commercial minute, as well as exact spot audience delivery, and making it the first to be certified for age/sex demographic guarantees, which still are the basis for most national TV advertising buys.

What, if any impact the JIC's certification has on 2023-24 upfront buys is not clear, as most big agencies and advertisers were expected to continue utilizing Nielsen as their primary currency for at least this season. Nielsen to date has not participated in the JIC certification process, but it has components of its national TV ratings accredited by the ad industry's official self-regulatory measurement auditing authority, the Media Rating Council (MRC), and has other components under review.

iSpot currently is accredited by the MRC for its national TV ad occurrence data, but so far has not sought to have its audience measurement service audited or accredited.

Comscore received MRC accreditation for both its national and local TV measurement services in March.

VideoAmp currently is under review by the MRC for its linear TV and first-party cross-platform measurement services, which are characterized as being in the "pre-audit" phase.

While the MRC accreditation still is deemed the final word on the validity of U.S. advertising currencies, the JIC has focused to date on certifying marketplace currencies for their "transactability" -- meaning they pass minimum thresholds for utility and stability and can be used by buyers and sellers as the basis of deal-making and guarantees.

"This is the first time a currency provider has been deemed transactable by the JIC across all currency classifications it evaluated, including personified demos. The news is an important milestone as it signals continued progress and momentum toward bringing more optionality of modern measurement solutions to market," explains Brittany Slattery, CMO of OpenAP, the TV network-owned entity that jump-started and manages the U.S. JIC, which also includes major ad agency research executives among its voting members.

In a related move, the JIC has also issued an updated perspective on the current state of TV currencies -- "Guidelines for Transactability of the National Cross-Platform Solutions" -- including the JIC's current recommendations for how they should be used as part of the deal structures between media buyers and sellers.