OpenX has announced that it is taking its opt-in mobile video exchange to full beta, providing brands with access to high quality opt-in video inventory on a global scale in what it claims is a first-of-its-kind offering.
While opt-in or rewarded video began in the world of mobile gaming, both in terms of supply and demand, the OpenX Exchange has already begun breaking into other market verticals with the help of initial launch partners, including photography, social networking, music, dating and home design.
The full beta follows a highly successful alpha testing period where more than 100 premium mobile apps experienced CPM rates that were 2.5 times higher than average for mobile interstitial video. Completion rates were also 30 percentage points higher, showcasing the ability of opt-in video to engage consumers.
"The OpenX opt-in video exchange delivers a rare win-win-win for the market providing advertisers with 100 per cent viewable advertising experiences, app developers with significant and growing revenue streams, and consumers with an advertising solution that delivers value for their time and attention," said Maggie Mesa, vice president of mobile business development at OpenX.
"To date, there have not been good options for opt-in video to be bought programmatically, due to issues around quality, lack of scale or missing technological infrastructure. We're changing that at OpenX, and with our laser focus on quality, we've built the only programmatic video exchange that truly works for all players in the mobile ecosystem.
"Studies have shown that opt-in video is easily the most preferred ad format by consumers in mobile, ranking higher than skippable pre-roll and more than three times higher than non-skippable pre-roll. This leads to high completion rates and a halo effect for brands that advertisers love."