Media Group Urges Stricter Standards for Connected TV Advertising
Connected TV Advertising Gets a Boost with Omnicom Media Group's Standardization Initiative
In a bid to streamline and improve the effectiveness of Connected TV (CTV) advertising, media buying giant Omnicom Media Group (OMG) has launched the CTV Signals Standardization Initiative. This collaborative effort aims to establish common standards for CTV advertising signals, ensuring better data consistency, measurement, and effectiveness across the CTV ecosystem.
The initiative is designed to create a unified framework of signals in CTV advertising, enhancing interoperability, measurement accuracy, and campaign effectiveness across diverse streaming platforms. By unifying signals for audience identification, engagement, and performance, advertisers and media buyers can better plan, target, and measure campaigns on CTV platforms.
OMG's strategy aligns with the goals of a standardization initiative, as the company seeks to integrate third-party and in-house ad tech tools to unify inventory access, measurement, and buying workflows for linear and digital/CTV TV channels. This approach closely aligns with the goals of a standardization initiative to streamline signal usage across platforms.
The push toward CTV growth and improved targeting is part of a wider industry shift as TV ad volumes decline, and advertisers seek more precise, measurable, and commerce-connected advertising opportunities on CTV. OMG's partnerships involving data-driven activation for CTV, such as with Criteo, suggest the company's interest in leveraging standardized data signals to enhance CTV advertising outcomes.
The growth rate of U.S. CTV-spend in 2021 is expected to be 50% year-on-year, with the industry projected to exceed $13.4 billion in 2021. Advertisers are already spending nearly $10 billion on serving ads on Connected TV screens, indicating a significant shift in advertising budgets towards this dynamic channel.
In addition to the benefits for advertisers, the CTV Signals Standardization Initiative is also aimed at assuring marketers of transparency. By establishing common standards, the initiative seeks to address concerns about ad fraud, viewability, and brand safety that have been raised in the CTV advertising industry.
In conclusion, the CTV Signals Standardization Initiative by OMG is an important step towards creating a more transparent, effective, and efficient CTV advertising ecosystem. By unifying signals and standards, the initiative supports OMG’s goal to help advertisers plan, buy, and measure CTV media more seamlessly within their existing platforms like Omni. The initiative is open to the CTV supply-chain to sign up to the protocols, signaling a promising future for the CTV advertising industry.
Directly integrating technology and finance, Omnicom Media Group's CTV Signals Standardization Initiative aspires to foster business growth and efficiency in the connected television advertising landscape. By promoting transparency, addressing concerns about ad fraud, viewability, and brand safety, the initiative aims to stimulate increased financial investment in the CTV advertising industry.
