POV by Hannah Pavalow, ThinkMedium Client Advisor

Last week I attended the ARF’s AUDIENCExSCIENCE conference, and two topics took center stage:

1. Currency efforts for cross-media measurement
2. Attention measurement

While neither of these topics was a surprise, as both have become industry priorities, what was not said was as interesting as what was. This first post will cover the currency efforts, and a second will focus on attention.

The first day of the conference focused on the U.S. Joint Industry Committee’s (JIC) efforts to create a new currency standard for “premium video.” The ARF had several excellent mainstage presentations discussing the JIC and multi-currency futures, with presenters from buyers, sellers, and industry groups. The content gave the audience a vision of what multiple currencies could enable, who was doing what in the space (e.g., certification vs. accreditation), and areas of nuance and contention (e.g., use of big data and calibration tools) for “premium video”.

While the coverage provided good depth, the framing definition of “premium video” is critical, as it narrows the scope of the JIC initiative and any currency designed for this content. For sellers to participate in the JIC, they must meet a threshold of $500,000 in long-form video revenue. This requirement would seem to limit any standard to TV networks (linear and streaming) and streaming platforms, which excludes substantial portions of digital video-driven ad spend. The effect of this restriction is apparent from the list of participants in the JIC, with no platforms that have predominantly short-form or user-generated video content participating (despite having at least some premium content) – and even a current absence of digital-first platforms (e.g., Netflix).

All of this is logical, as traditional TV is transitioning to hybrid distribution models and needs new currencies that work within a fragmented ecosystem and also comply with changing constraints (such as privacy regulations). Similarly, TV buyers recognize the limitations of historical measurement and are looking for new solutions given the shift in consumption patterns.

While the participating premium video players should be commended for recognizing the changes and taking joint action to solve a complex problem, I worry that these efforts are focused on creating solutions to bridge legacy practices to an evolving environment as opposed to designing wholly new solutions that could enable optimal, cross-channel business practices. This gap seemed most apparent by the lack of visibility for the WFA’s Halo cross-media measurement initiative.

Halo launched in 2020 to create a privacy-oriented, collaborative technology solution for cross-media measurement, focusing initially on “native” digital video platforms, with an intention to develop a comprehensive solution across traditional TV and digital (starting with video but not limited to video). Halo is a global program with regional pilots in the UK and US; the ANA shared an update on the US pilot, demonstrating success in testing the technology across two measurement companies. Halo has not been without its challenges, but its omission at the ARF event still stands out.

There is overlap between the two industry efforts regarding goals and partners, and even further duplication with the efforts of individual companies – where there is also evident tension. But the specific differences and how buyers should engage with each remain unclear. It is easy to imagine that this duplication of effort is intentional, and these are complementary initiatives. If so, more education on the landscape and the role of each initiative and group is needed. Without this, we could quickly end up in a world where measurement and our understanding of “truth” are even more fragmented and contentious. Worse, buyers will face most of the consequences, as they’re forced to conduct business with new tools that vary in validation depending on context and even vary in how data is used and protected (important given the privacy environment).

Before the industry continues to charge ahead with these two initiatives, or adds another, we need a comprehensive view of the ongoing efforts and a clear point of view on the best way for players to engage. A little more collaboration, anyone?