93 per cent of TV industry executives believe that new initiatives for TV advertising measurement, data and metrics are urgently needed if the European TV industry is to remain competitive.
This is the key finding from Adobe, Alphonso, Sky and TVBeat’s latest report: ‘Next Generation TV Metrics and Data Strategies: Priorities for the European TV Industry’. The report was launched today during Ad Week Europe. It is based on insights from over 300 TV industry executives across the continent who were consulted in a series of roundtable events, and surveyed at EGTA Budapest in January. EGTA is a trade association for TV and radio sales houses.
The call for new metrics in TV advertising is in response to the decline of linear TV consumption, the rise of online video publishers, and the transition of broadcast TV into multiplatform. As a result, TV viewing habits are fragmenting across multiple channels, and the brands that advertise across them are struggling to measure and evaluate the performance of their content.
While the European TV industry has planned upgrades to help rise to these challenges, the insights reveal a strong consensus that the TV industry must do more. 72 per cent of European TV executives believe that the industry must seek new definitions and common principles for ad viewability, while 64 per cent believe that standardised definitions for TV and video impressions must be developed.
In addition, 72 per cent believe the European TV industry must enrich TV Audience Measurement (TAM) with additional data sets beyond age and gender if the industry is to remain competitive, and create more personalised, targeted ad experiences.
Commenting on the findings, Phil Duffield, managing director Adobe Advertising Cloud said: “The TV industry has reached a pivotal moment, and must move towards an operating model that places advertiser needs front and centre. In its current fragmented state, the TV industry doesn’t enable advertisers to offer a consistent experience across channels, which has a direct impact on customer relationships.”
To help the TV industry in Europe remain competitive and offer more consistent experiences across channels, the TV Consortium has identified five key priorities:
Ensure that TV Audience Measurement (TAM) solutions remain the gold standard in media measurement. Support the development of scalable, consistent pan-industry standards, definitions and solutions. Develop the industry-wide data assets and capabilities required to cater to new advertiser needs. Maintain TV’s status as a brand-safe, fully viewable, and effective advertising medium, committing to clear principles. And invest in training the next generation of data scientists to meet TV’s needs.
Abbas Tahzib, chief revenue officer at TVBeat said: “If TV is to continue to maintain its dominant position in both media and advertising consumption, it must integrate more effectively with the digital channels that TV advertisers are increasingly using. By agreeing on common metrics, such advertisers can ensure their campaigns reach their full cross-device potential and target niche audiences as well as reap the benefits of brand safety on TV.”
You can access the full report here.