Fox, NBCUniversal, Paramount, Warner Bros. Discovery and TelevisaUnivision are teaming up with advanced advertising firm OpenAP and the Video Advertising Bureau to establish a new Joint Industry Committee (JIC).
The committee will “enable multiple currencies with the primary focus of creating a measurement certification process to establish the suitability of emerging cross-platform measurement solutions in advance of the 2024 upfront.” It will also create a new unified streaming viewership dataset through OpenAP.
“The sustainability of the premium video advertising model depends on an ecosystem for measurement that is transparent, independent, inclusive, and accurately reflects the way all people consume premium video content today – across multiple screens, connections, and devices,” NBCUniversal CEO Jeff Shell, Paramount CEO Bob Bakish, Warner Bros. Discovery CEO David Zaslav and TelevisaUnivision CEO Wade Davis said in a joint statement. “By coming together to establish this JIC, we can collaborate and accelerate the efforts to implement a new multi-currency future that fosters more competition, inclusivity and innovation and will ultimately better serve advertisers, agencies and consumers.”
In the coming months, the JIC intends to expand membership to other qualified premium video programmers and elicit active participation from advertising agencies and qualified trade bodies to advance the multi-currency future in this collaborative forum.
Beginning this month, the JIC will fund key data initiatives to accelerate measurement innovation, including:
Establish and maintain a measurement certification process in partnership with the VAB that will be housed inside of the JIC for third-party measurement vendors conducting cross-platform premium video currency services that will be operational by Broadcast Year 2024.
Create a programmer data set to enable third-party measurement vendors by harmonizing streaming viewership data brought together by OpenAP infrastructure.
Engage a third-party audit firm to verify the accuracy of the streaming viewership dataset in order to maintain measurement independence and neutrality.
Collaborate with the VAB and ANA to accelerate progress made to measurement calibration by both parties, as well as with other key Industry Trade Bodies including the 4A’s, IAB, ARF and more.
The JIC will formalize and officially announce its measurement certification standards on March 1. It will also host an event on April 25 sharing a first look at progress being made to accelerate “the multi-currency future and upfront readiness of measurement partners.”