You can’t control the cards life deals you, but you can control how you play the game. 

Mike Richter’s experience is a testament to that as he navigated his childhood in NC, pursued a hairstylist and make-up artist career, and ventured into the ad tech industry. His mantra, “that every moment we live through leads us to the path we are on right now,” has kept him thriving through hardship and success. 

In this current era — marked by a recession and a two-month break in Europe — Richter is still working toward defining the next chapter in his book, but he is optimistic about what the future holds. 

“Part of what has helped me build my superpowers is going through adversity,” said Richter. “We all have superpowers. Everybody’s collection of superpowers is unique to their experiences and what they’ve learned from them. My superpowers come from my experiences. They come from me learning through the path that I’m taking and the steps I choose to take. It informs me of how to move forward in the future and allows me to be me.”

Andrew Byrd: Can you give me a little background on where you grew up, your childhood and how that influenced you today?

Mike Richter: I always refer to myself as a first-generation Southerner. I was born and raised in Charlotte, North Carolina. My dad and mom came from the North — the Bronx and Philly. 

I always pushed convention and worked against the status quo, even as young as two or three. I would have fun fashions where I would not leave the house if I didn’t have two different color crew socks and so on. 

Especially so in high school, as I discovered that I was gay. When I came out of the closet, I joined GLSEN. I pioneered the initiative that formed the first GSA in Charlotte, North Carolina; most schools in the city now have one. I constantly work to try to make the world a better place or a more accessible place for others that experience similar adversity. 

AB: Did the adversity halt you from coming out? 

MR: No, I dealt with that adversity for a long time. Did that adversity lead me to be more apprehensive about coming out? A little bit. But it also gave me the thick skin needed to come out to my mom and dad, who were super supportive. 

Today, as I stand in Paris on the eve of my 35th birthday, I feel so much more accomplished than I ever thought I would be at this point in my life. I loved all the experiences that I’ve had despite some of the adversity I went through. 

AB: How did you start working in ad tech? 

MR: Just like everyone in ad tech, it just happened. Nobody chose to work in the ad tech industry that I know of because nobody goes to school for it. It’s something that you discover and become part of, and it’s an industry that, once you become part of it, it’s one that you generally don’t want to leave. Because it’s exciting, and it’s fun, and it’s different, and the people are amazing. And it’s something that I’m thankful to be a part of every day.

I originally went to school for marketing, but I never finished. Then I started to pursue a career as a hairstylist and makeup artist, but that career was halted after dealing with a significant change. I was diagnosed with HIV, and I felt lost. Maybe if I had been aware of some of the various programs we have today, I would have made a different decision, but life turned out the way it was supposed to. Every moment we go through in life leads us on the path we’re on right now, and that was mine. I eventually decided to go back to school and finish my degree. As I was finishing, I got the opportunity to start selling ads at a local television station.

Thank you to those that believed in me during that time and gave me the chance to start my career. A special shout-out to Tiffany, you know you are. From there, one thing led to another, and I learned about the local TV and digital industry. Then, one random day, I saw that the company I worked for had opened up a new division called Premion in New York City. I put my name in the hat for it and joined the team. From there, it has been a super fun rollercoaster of nonstop UPS downs, twists, and turns.

AB: I wanted to ask how you started working in CTV, but you’ve been working in the TV space since the start of your ad tech career. As someone who has watched it develop over time, where do you see the space evolving over the next few years? 

MR: CTV first came out because people wanted to change how they consume TV. People were unhappy with how they consumed TV for several different reasons. They could not control what they were watching, it cost too much money, or they saw more ads than content on some other channels. So, the control started with new technologies that allow people to watch video on demand, also known as VOD, which opened up a whole new world for the audience. It gave them a choice of when and how they could watch their content.

In the early 2010s, technology was already out because the first Roku was sold in 2001, but took over a decade before this started taking off. Twenty years ago, they didn’t have the means to support the vast consumption that people will utilize today. In addition, smart televisions and devices weren’t easily affordable. Now they are, which allows people to access them and start consuming television how they want to see it, either with fewer or no ads, and choosing the content they want. But many people still need access to a high stream, high capacity, or high-speed broadband. 

People look at CTV versus traditional TV and the difference in how it’s delivered. What about the difference in how it’s packaged and accessed, not through the hardware or the pathways, but the packaging in which we pay for it?

Do I see CTV continuing to take off? Yes, that’s inevitable. But that’s not the important factor. The important factor is how we distribute it. That’s what governs how we advertise within apps and how we monetize it.

AB: As you know, change is constant in the ad tech industry and the recession has forced many to change their career path at a sudden notice. I know it took a lot of vulnerability to share your story on LinkedIn. What do you make of this time in the industry and your own personal experience with it? Where are you hoping this time takes you? 

MR: I’m grateful to be fortunate enough that despite losing my job, I am hopeful about the future. I can support myself and Finn and take the time to live in Europe for two months to take a break. I am still determining what to make of this time. It goes back to what I said earlier. You can’t control the path that you’re on, but you can control the steps that you take.

The thing I love most about this industry is the people. I’ve made some fantastic friends, some of whom I call family, but this industry is like a family. This industry will show up and put back into you what you put into it. After making the announcement on LinkedIn, I started talking to mentors and friends who gave me advice, guidance, and confidence that helped lift me up.

And so to all of my friends, colleagues, former team members, future team members, and partners in the space, thank you. Thank you for contributing to every step in my career, from the debut to the end, but it’s not over yet. This is simply a cliff-hanging chapter, and it’s not the end of the book. Be on the lookout for new ventures ahead because exciting things are in the works. 

The post Ad Tech Veteran Mike Richter: The Power of Community and the Power Built From Experience appeared first on AdMonsters.

We used to buy almost everything in person until online shopping became more popular. During the pandemic, many shifted to purchasing most of their items online, including essentials like groceries. 

This comfort with shopping for goods online has opened up a new world of ecommerce, including shopping from the comfort of your living room couch. 

In a session at Ops NYC, “Shoppable TV: Shaping E-commerce’s Future with Unique Consumer Experiences,” moderated by Marika Roque, Chief Innovation Officer & Chief Operating Officer for KERV and featuring Miles Fisher, Senior Director Ad Platforms & Growth Sales for Roku, and Amie Owen, US Head of Commerce for Universal McCann Worldwide, Inc. gave attendees a glimpse into the future of ecommerce. 

How Users Interact with Shoppable TV

COVID significantly changed the retail and ecommerce spaces, says Owen, “I am super excited to be in the space because the convergence of retail and data allows us to really have that shoppable moment for everybody no matter where they are in their journey.”  

Focusing on the holistic TV experience, Roku is extending that to what it means to shop via TV, notes Fisher. For example on TV, a call to action used to feature a flashing phone number on a television screen during an ad, but now a call to action might direct the consumer to visit a website or complete an action using their mobile device. 

Since Roku is a subscription service, the streamer has built a direct relationship with 70 million consumers. This gives them access to email addresses, phone numbers, and credit card info, which provides more insight into who is watching when.

Ensuring positive user experiences with shoppable TV isn’t all that different from creating great experiences online. To achieve that, data plays a huge part in keeping users engaged, says Owen. Post-COVID shopping happens in more ways than before the pandemic, so understanding shopping behaviors can inform which ads to show consumers on their journey.

Best Practices and Strategies to Succeed With Shoppable

As more streaming services buy into the value of Shoppable TV, there will likely be hiccups along the way. Owen suggests three strategies to help make sure everything runs smoothly:

1. Figure out your overall objectives, KPIs, and who you are trying to reach. 
2. Make sure your messaging is tailored to who you are reaching out to and what you are trying to accomplish. 
3. Continue to evolve and keep your pulse on the way the landscape is changing, because everything could be different as early as tomorrow. 

And what works on mobile or desktop, doesn’t necessarily work for TV. “The production quality that people are used to on television is very different. And one of the things that we’re really focused on is making TV more accessible for other people to advertise,” notes Fisher. The cost per impression for TV is lower, but it’s worth taking some of that budget and putting it into production, he adds. 

Roku is also working on making TV as shoppable as social. Consumers are already accustomed to picking up a remote while watching TV, and Fisher believes the remote will be a powerful tool going forward. Roku is also looking into ways to create interactive overlays that will encourage people to use their mobile devices to complete a purchase, with QR codes continuing to be a piece of the puzzle. 

Approaching the Consumer at the Right Time and in the Right Way

Regardless of the way it happens, converting sales comes down to creating a call to action and offering the consumer something valuable in exchange for their information. All of this circles back to understanding audiences through the data they share. 

When Roku partnered with DoorDash to offer customers a $5 off coupon if they ordered in real-time, it was a way to surprise and delight them, Fisher says. That’s just one way to deliver value. 

Then there’s how retail data can help brands close the attribution loop. UM Worldwide partnered directly with Kroger to leverage their first-party data to reach users who purchase beauty products, which led to a threefold increase in return over the previous results, shares Owen.

Partnering with different companies and sharing data in a way that remains privacy safe – which is crucial – can help increase leads, Fisher agrees. The ROI results from these partnerships can sometimes even be seen in real-time. Other times, it may take six to eight weeks for data to be available. 

The Future of Shoppable TV

In the next year, the shoppable TV sector could look completely different. So what about in five to 10 years?

In the next year to three years, Fisher predicts there will be an increase in the video quality of TV ads, possibly aided by AI technology. TV is built for mass marketers to succeed and they will likely continue to do so, he adds. 

In the next five to 10 years, Owen predicts that consumers won’t only be shopping through TV, but through a variety of smart appliances. From the refrigerator that keeps an inventory of what you have stocked to the laundry machine that calculates how many loads of laundry you do in a typical month and prompts you to reorder detergent through Amazon, there will be a whole home ecosystem of places to shop. 

The post Is Shoppable TV The Future Of Consumer Purchasing? appeared first on AdMonsters.

In August 2022, the IAB Tech Lab released a set of video ad standards that changed the definition of instream and outstream video. 

The updated guidelines defined instream video as sound on and playing before, during, or after streaming video content that the user requested, delivering within a player, monetizing content the publisher provided, and including linear and nonlinear ads, which didn’t need to be videos.

Unfortunately, those updates created a challenging video ad landscape for publishers, especially smaller ones. About 90% of what used to be considered instream inventory was now labeled outstream. In addition, it restricted plenty of quality inventory from being labeled as instream, thus wounding both publishers’ and advertisers’ capabilities. 

To remedy this mistake, the IAB Tech Lab has further amended their 2022 video ad updates to redefine the meaning of instream and outstream video inventory. 

Jenn Chen, President and CRO, Connatix 

Andrew Byrd: Can you walk me through, more specifically, exactly how publishers were struggling with the previous standards?

Jenn Chen: The industry had standards to define instream, but they needed to explain it more clearly. Part of the new definition puts the onus on the publisher to amend how their videos are showing. The video will either have audio or have a bunch of other things to oversimplify it. 

The challenge was a surprise because tons of publishers have excellent video content. For years, they intentionally showed video content without audio, even if there was an abysmal experience because it’s very interruptive for the user. Consequently, most of what they want to convert will take time and investment. 

Even if they don’t want to convert to audio, they have to make highly relevant videos and create something from scratch that matches the article exactly, or they have to change their entire page layout to conform to some of these other requirements. It began a slippery slope where the industry struggled to monetize the video inventory. It has implications for their business model and how advertisers perceive their website’s quality. It also created a new way of pricing a marketplace and a much more rigorous and calculated approach to defining video.

Luca Bozzo, Associate Director Programmatic Partnerships, Connatix

Andrew Byrd: The recent video ad updates were to help rectify the challenges the initial standards created. What are the more recent updates? 

Luca Bozzo: The working group set out to solve some of these issues by slightly expanding the definition of instream to the root of its meaning. The heart of instream is simply video that the consumer requested and consumed. For example, if a consumer searches YouTube for a video and clicks on it, that is instream content. 

But there are other ways to signal intent other than sound on. Sound on is one way, but if a consumer clicks to start the video experience, that can infer intent to consume. Suppose they go to the video section of a website. In that case, there’s nothing else to watch other than video content, so even if it starts witj sound off, it technically still would be content that the consumer requested and hence instream. The main goal at first was to broaden that definition. 

Chris Kane, Founder, Jounce Media

Andrew Byrd: You have a very well-rounded overview of the state of the internet and the supply chain. How do you think the struggle to define instream vs. outstream affects the supply chain overall? 

Chris Kane: Every ad tech company, The Trade Desk, Google, Magnite, and PubMatic, has inventory quality standards, which tend to be extensive sprawling documents. It is impossible to enforce those policies comprehensively. The goals are aspirational. This is how we would like to run our ad tech platform, recognizing that we will never achieve 100% compliance with these policies, but we’re striving to get as close to 100% as possible.

There was some ambiguity in the definition of instream versus outstream. It was hard for DSPs to enforce an ambiguous standard, and the video supply landscape got sloppy over the last five years. That’s the backdrop for why IAB Tech Lab, Connatix, The Trade Desk, and others are trying to get organized on video standards.

AB: The next step is to establish these new guidelines as an industry standard, and the Trade Desk announced that they would start implementing the new measures. Will this help move the needle along? 

CK: I’m more pessimistic about this than I was a couple of weeks ago. The first step that needs to happen in the industry is that the IAB tech lab needs to build consensus around a standard, and they’ve done that. They struck out the first go-round, but now there’s a consensus around this new set of criteria. Now some powerful ad tech company needs to go and enforce those standards. Nobody needs to comply until a giant buyer says you must comply, or I’m not spending money.

That means that The Trade Desk or Google must start enforcing the standards. If they required accurate video inventory labeling, that would push the industry in a good direction.

Paul Bannister, Chief Strategy Officer, Raptive

Andrew Byrd: The end goal for the updates is to create industry-wide standards. Is this something the ad tech industry needs to work on? 

Paul Bannister: Standardization benefits every advertising medium — CTV, video display, mobile, etc. The more we can standardize and increase transparency, the more we can make it so buyers know what they’re buying and feel they can trust who they’re buying from. Sign us up all day to make those standards happen and push those things forward — a cleaner, more transparent, and more well-lit industry creates more opportunities for publishers, advertisers, and creators to win.

The post IAB Tech Lab’s Video Ad Guidelines: The Journey to Industry-Wide Implementation appeared first on AdMonsters.

But many players throughout the advertising ecosystem have used AI and machine learning to increase productivity, create more meaningful dashboards, and serve more relevant content and advertising to audiences.

So it comes as no surprise, the EX.CO, a leading publisher-first video tech platform would boost its video offering for publishers, especially after acquiring Bibblio, an AI and machine learning company. The ad tech company’s new AI-driven content recommendations and premium video libraries for publishers will identify the most contextually relevant video for each article and the highest-yielding feed for a page on a publisher’s site.

I spoke with Tom Pachys, CEO and Co-Founder, EX.CO, to learn more about the launch, as well as how EX.CO increases value for publishers by streamlining the supply path, and how AI can help fix ad tech’s sustainability issue.

Lynne d Johnson: AI is all the hype right now because of the popularity of Generative AI. You recently launched AI-driven content recommendations, after acquiring Bibblio, an AI and machine learning company. You guys already provided content recommendations, how do these enhancements improve upon what you already do?

Tom Pachys: EX.CO as a technology company always believed machine learning should be used to solve problems that are impossible to solve. As part of our online video platform, we’ve invested years in creating AI-based algorithms to improve monetization yield. While the buy side had AI-based technology since the early days, publishers never had access to such advantages without the likes of EX.CO.

After our acquisition of Bibblio, we were able to further enhance our offering using machine learning to select the most relevant video content as well. By using such technology, we enable publishers to always show the most relevant or highest-yielding video on each page. This is one of a few enhancements to our video content capabilities, another one being a premium video library with over 50,000 videos in different verticals that will now be available to our customers.

LdJ: Why should publishers care about this new feature in your video technology platform? What are the benefits for them?

TP: Our new content recommendations have proven to increase revenue up to as much as 17% for publishers, so this is a meaningful boost. With this new enhancement to our player technology, the video shown on each page of a publisher’s site will be the one most contextually relevant to the content of the article that video is placed in, which leads to a more personalized and engaging experience. In addition to revenue growth, our contextually relevant videos have improved visitor dwell time by nearly 50% on average. We’re very excited to bring that type of innovation to the publishing industry. It’s really a win-win all around for publishers and their audiences.

LdJ: And for buyers, how does this change things for them in terms of campaign performance or campaign management?

TP: We’re equally excited about how these new capabilities will impact advertisers as we are publishers. First, we pride ourselves on representing the shortest path to the inventory; we believe in reducing mediators and increasing value to the publisher. When brands and agencies buy inventory from EX.CO or the publishers that are working with EX.CO, their video ads will be seen by the most engaged audiences and within the most relevant video content. Users that watch more personalized videos really lean in more to the content they are consuming which can only improve brand recognition, brand recall, and purchase intent. That’s really what everyone has been waiting for, isn’t it?

LdJ: As much as people are excited about AI, AI also gets a bad rap for either going off the rails, as we’ve seen with some ChatGPT examples. But also bias has been a big issue that AI has been called out for. I mean the technology is only as smart as the data it’s being fed. Can you tell us about the human involvement that goes into your AI-based algorithms to ensure that publishers are actually serving the most contextually relevant video for users without any of these issues that have been concerning about AI’s future?

TP: It’s true; the algorithms are only as smart as the data they are being fed and the investment in building them. While we could look at engagement data for a user like dwell time, frequency of visits, etc. this tells us very little about what the content (and in extension, the algorithm) is doing to a person’s emotional response.

We understand a multidisciplinary approach is needed to achieve great results. It’s not only context that is important but also, recency of the article, popular interest, semantic analysis, safety filtering,  and other metadata such as tags and categories. This makes it a very pure, contextual algorithm with very little potential to cause negative impact. The challenge is achieving the human “wow factor” of generative AI while balancing the different publisher’s needs.

Many of the issues you are referring to tend to be more prominent when the technology is working on huge data sets including UGC where the fundamental “nutritional” value of the content is obviously less controlled. Our challenge is often the opposite: how to create a good recommendation on a much smaller sized data set (library of videos) while making the recommendation both relevant and accepted by journalists and editors working under a defined set of moral and ethical standards.

LdJ: And what about sustainability? That’s a big issue in the advertising ecosystem right now as everyone is thinking about being more responsible and hitting their carbon emissions targets. Well, as AI grows, so does its carbon footprint. Are you guys thinking about doing anything to make sure your technology is not becoming part of the larger problem? 

TP: When looking at the publishing industry, one of its biggest polluting components is the inefficient use of on-page ads. Most of the industry works with a “spray and pray” approach—more vendors, more requests—which leads to more pollution. We believe AI is the solution to that. Our biggest focus is supply path optimization, making the value chain more efficient which boosts our customers’ bottom-line revenues as well as supports the environment. EX.CO is pushing that agenda in all force and I believe we’ll see big positive changes in the industry in the coming years.

The post Ex.Co Gets Into the AI Content Recommendation Business: A Chat with CEO Tom Pachys appeared first on AdMonsters.

It centers the individual to gain success on their own. 

Cedric J. Rogers, Co-Founder and CEO of Culture Genesis Inc., proclaims a different type of success. A success centered around support from and for your community. 

Rogers grew up in Houston raised by a family of entrepreneurs. While his parents taught him to work hard for his accomplishments, they also led him to use his resources to give back to those in need. Those lessons still ring true in his business style today. 

From creating startups to owning one of the largest Black-owned digital networks with Youtube ad sales rights, Rogers has always invested in the Black community and ensured that others benefited from the wealth and resources he acquired. 

To honor his legacy and the history he continues to make, we chatted with him about his career in digital media and ad tech, the benefits of investing in BIPOC media, and his mission to uplift the Black community. 

Started From the Bottom

Andrew Byrd: How did you start your digital media and tech career? 

Cedric J. Rogers: I spent most of my career at Apple. I started as a system engineer and transitioned to developer relations working on apps. But my background is in digital technology applications and coding.

Afterward, I got into startup culture. I created a startup called Prizm, which exposed young people to other people of color doing remarkable things. I wanted to open their eyes to opportunities outside their environments. I also created a startup called LookLive Inc., centered around men’s fashion. 

I then moved to the Bay Area and launched Culture Genesis. I co-founded the company with Shaun Newsum, an engineer from New York. Our goal with Culture Genesis was to build a platform for creators of color to help monetize their products. That was always our vision. 

We started building out by partnering with celebrities like Steve Harvey and Kevin Hart. We expanded into a network of channels, including comedy, music, and poetry. We started working with other digital publishers and creators, and now we have the only Black-owned network with YouTube ad sales rights. So there’s a significant increase in revenue for creators and publishers that work with us. It’s a win-win for everyone.

Community-Focused Business

AB: You are a major investor in multicultural publishers and creators worldwide. Why was this mission a vital part of your business? 

CJR: I grew up in Houston, and my parents were entrepreneurs. From a very early age, they instilled in me that you help your community while making money. I watched my parents build their businesses as a kid and how they served the people around them simultaneously. Of course, making money is great, but I want to make an impact with my resources. I want to make money, but I also want to push our community forward. We wanted to do something for the culture, and that’s the core. That’s how I started everything, honestly.

FUBU: For Us, By Us

AB: You are the founder of Culture Genesis, that’s known as one of the largest Black-owned digital networks. Did you imagine this for yourself at the start of your career? What does holding this title mean to you? 

CJR: It was different from our initial goal. We saw ourselves building a platform similar to Steve Jobs. We saw ourselves in someone like Black billionaire Robert L. Johnson, who amassed his wealth through the media. 

A great deal of wealth comes from the media, so it’s not surprising that I landed here. That’s the beauty of technology. We no longer need what used to be to build successful companies. 

In addition, people of color over-index in the media because we lead with the culture and have so much influence nationally and globally. Our talents and our culture are all encompassed in the media through music, entertainment, and sports. I want to leverage technology with my resources to help us get better distribution. Often we have the content, and we have talent, but we need the distribution to be able to monetize our content. As technologists, we want to leverage our skills to do that for our people.

AB: In 2021, Culture Genesis Inc. gained $5 million in revenue after gaining YouTube ad sales rights. You invested a significant amount of that revenue into Black-owned media. Do you see Black-owned media brands gaining more support in recent years? What would you say to investors who do not see Black-owned media or Black audiences as a valuable asset to their business? 

CJR: In general, black-owned entities in the media have gained more investment, but more is needed. The investment, first and foremost, has to come from our community. We need to support and invest in ourselves. Although, we also need others outside of our community to invest in us. 

For example, Robert L Johnson, the co-founder of BET, mentioned that he was fortunate because people invested in him very early on to help his company. Black people invested in his business, as did people outside the community. 

There’s a great wealth of untapped business opportunities within our communities. They may need help understanding the challenges these entrepreneurs solve, but that means there’s an opportunity to bring fresh perspectives to the table. That’s what we need all investors to understand. Communities of color are valuable audiences and entrepreneurs with a wealth of knowledge and skill to change the game. They just need the right opportunities. 

AB: What final words of advice would you give to upcoming Black media owners who want to follow in your footsteps? How should we continue uplifting Black Media and consumers? 

CJR: The first thing is, you have to believe in yourself. You must find a vision that feels true to you and that you’re passionate about and work diligently towards that goal. You must keep chopping wood daily and find that consistent practice that helps you stay centered in your work. You’ll find that people can’t stay centered on things long enough, and that’s a big part of success. It is a marathon rather than a sprint. 

When it comes to media, we have to continue to invest in ourselves, network, and be willing to give as much as we want to receive. That’s what’s also worked well for me. I’m open to supporting others’ endeavors, which is how you get ahead. 

To read more stories in our Black History Month series, check out:

• 10 Black Ad Tech Professionals Making Waves in Digital Media and Advertising
• Celebrating Black Pioneers in Ad Tech — Charles Cantu, Reset Digital
• Breaking the Glass Ceiling: The Legacy of Louis Jones, Brand Safety Institute
• A Seat at the Table With Lashawnda Goffin, CEO, Colossus SSP 

The post The Importance of Black Media and Sharing Your Wealth: Cedric J. Rogers, Culture Genesis Inc. appeared first on AdMonsters.

Currently, podcasts account for nearly one-third of digital audio ad spend, and that projection will increase over time. 

We spoke with some ad tech professionals in the podcasting world about their 2023 predictions. One thing we can expect for sure is more programmatic ads. 

Capabilities and offerings within podcasts are growing, allowing for more monetization and opportunities like programmatic audio, shared Lucy Ford, Director of Ad Operations, Slate Magazine, during a podcast monetization breakout session at Publisher Forum Nashville. However, concerns about ad quality and filtering out bad programmatic ads still need to be addressed. 

As the sector continues to grow, podcast ad professionals have also learned through trial and error that podcasting measurement, data tracking, and technology are still in their infancy. See what the media experts had to say for all those wondering what’s to come in 2023 for podcasts.

More Listeners Shift From Terrestrial Radio to Digital Alternatives 

Many media experts agree that listeners will continue to shift to digital formats. 70% of media experts see this happening, according to IAS.

One reason for this widespread shift is the growing mistrust of media outlets. Consumers are rethinking their media sources as fake news continues to fly around the open web at breakneck speeds. Placing empathy and transparency at the core of their messaging, brands need to hone in on building trust with their audiences. In the era of constant multitasking, podcasts reap the benefits because people are always looking for something to listen to simultaneously.

Laura Connell, Senior Trends Manager at GWI

“Since last year, the number of US consumers who trust the media fell by 14%. Forty-five percent of Americans say they have no trust in social media companies, up 8% from Q2 2020. Meanwhile, over half of Americans reported listening to music, podcasts, audiobooks, or talk radio to help them relax, and over one in three say it helps relieve stress and anxiety. Ninety-two percent of consumers listen to audio content in a given week, so brands have a huge opportunity to engage with listeners. Millennials spend more time daily listening to broadcast radio than baby boomers do — so the format still has a strong following. Even children are listening to podcasts at an increased rate, with an 11% rise in the past year among Generation Alpha.”

“Consumers of all ages now spend more time listening to podcasts than they did in 2020, with Gen Z (+5 minutes) leading the way and brand discovery via ads on the radio and music streaming ticking upward since this time two years ago. In Q4 2021, 18% of US podcast and music streaming listeners discovered new products/ brands via podcasts. Hosts can cater ads to their style, which consumers in eight markets prefer.”

Videocasts on Youtube Will Continue to Be a Thing

For the past five years, podcasters have been uploading their content to YouTube, and this trend will only continue to take off. During Advertising Week NY this past October, Donald Albright, President and Co-founder of Tenderfoot TV, talked about  how posting clips of your show on YouTube helps with marketing. However, having the entire RSS feed in two different places can become counterproductive. 

Grant Durando, Director at Right Side Up

“The number of creators uploading their podcast to YouTube will “reach critical disruptive mass” in 2023. This can spark a new need for attribution solutions. The industry has largely addressed tracking campaigns in RSS feeds “via pixel and prefix-based attribution,” but as more podcast engagement comes from YouTube, we will need a new technological solution to deliver conclusive performance marketing attribution.”

Conal Byrne, CEO at iHeartMedia Digital Audio Group 

“So — should podcasts become videos? Capturing the recording session of a podcast for video may serve certain creators well. But, overall, this will anchor the medium back into video’s rules of fast, cheap, and good. Moreover, and maybe counterintuitively, the video won’t hold a candle to the audio podcast’s intimacy, engagement, and innovative qualities. This medium’s creative freedom and mass reach, its ability to slip into our media consumption in the places that video couldn’t and can’t fill, is still today unrivaled.”

Audio Buying Will Accelerate in a Saturated AVOD Market

While on the go and staying home, people stream audio all day. With quality content, precise targeting, and a large market, audio is the medium that most budget-conscious consumers choose. They want entertainment without being dependent on subscription services.

Sixty-two percent of media experts say ad-supported digital audio streaming will expand to match adoption rates among consumers in 2023, according to the IAS. And 61% think ad-supported digital audio streaming will become more popular among consumers. 

Also, many professionals are purchasing audio and voice-assisted devices these days. A quarter of media experts are expected to prioritize investments in smart speakers as they are the new, shiny object for advertising. One-third of consumers are more likely to consider a purchase from a brand after hearing its ad on a smart speaker.

Michelle Swanston, VP Data Marketplace, Media & Entertainment Vertical, TransUnion

“According to The Infinite Dial Edison Research Report, 60% of all US homes have two or more smart speakers. Innovative advertisers can look to streaming audio as it provides a unique marketing platform that combines the quality content of radio with the precise audience targeting, dynamic messaging, and outcome-based analytics of digital.”

A Rise of Programmatic Advertising in Audio 

Trending with the upward tick of ad spend on podcasts in the US, programmatic podcast ad spending will make up an increasing portion of total podcast ad spending, reaching nearly 10% by 2024, according to eMarketer.

We will only see more programmatic ads in 2023, considering people can consume them alongside other media, says Connell from GWI. “We’re likely to see major players in the audio-streaming industry expand their offerings – like Spotify, which now offers audiobooks alongside music and podcasts,” she added.

Stephanie Donovan, Global head of revenue at Triton Digital 

“Ad spend via programmatic exchanges will grow significantly as brands aim to reach an engaged, mobile audience. The volume and publisher CPM rates for podcasting will continue to rise in 2023, with programmatic podcast advertising again leading all other audio channels. We’ll see dynamic ad insertion (DAI) continue to steal the spotlight from baked-in ads, building upon 2022 momentum.”

Endless Opportunities to Engage New Audiences  

The podcasting industry is growing into a diverse space. In an email to AdMonsters, Byrne from iHeart pointed out that in 2023 podcasting will continue to expand into a mix of creator-host-read advertising combined with mass, longtail podcast inventory that is audience-segmented and targetable. 

Publishers are really starting to see how podcasts provide an opportunity for growing and diversifying revenue streams. The podcast listener boom has not only impacted advertiser spend, but the number of podcast advertisers grew by 42% in the US, which is expected to increase significantly in 2023. 

Consumers might be downsizing their subscriptions in other areas, but podcast subscriptions are taking off. Many publishers are capitalizing on this trend and are offering audio versions of their stories and other news-driven audio content. And they’re using these audio offerings to convert listeners to paid content subscribers. Some pubs have also been successful with premium podcasts. Maybe it’s time you get into podcasting too. 

The post 5 Podcast Predictions Shaping the Future of Digital Audio in 2023 appeared first on AdMonsters.

Looking to take a brief trip down memory lane with us? 

For one, we learned that having a first-party data strategy is crucial, and CTV is easier to tackle when you already have a strong measurement infrastructure. We also learned that there is a big difference between subscribers and viewers, making viewership hard to track on streaming because the subscriber is only sometimes the viewer. This is one area where traditional TV and CTV differ. 

Speaking of linear, yes, it still exists. Yes, my 70-year-old aunt is still watching cable TV, but in about ten years, who knows if that will be the case. FAST channels are growing, network mergers continue to sprout, and subscriber rates are increasing. People like the convenience of bundled streaming services without having to flip through over 100 cable channels to find what they want. 

In case you were wondering what’s next for OTT subscriptions, CTV monetization,  and linear advertising, we spoke to seven ad tech professionals to get their points of view on trends for 2023 and beyond. 

CTV Growth is Happening Quicker Than Other Channels

A recent Boardroom headline mentioned how Las Vegas Casinos generated over $13 billion in revenue in 2022, setting a new annual record. CTV growth is on the same projection as CTV spending will reach $34.49 billion by 2025. While ad spend will slow down in 2023, CTV buyers’ investments will see double digital growth compared to 2022. CTV ad spend is expected to grow by 14.4% in 2023. 

Ad spend growth is one of many development areas we can expect. Viewership and advertiser interest in the US are also on the rise. 

Frans Vermeulen, VP of Strategy & Market Development, Media & Entertainment Vertical at TransUnion

“CTVs are giving smartphones a run for their money. US smartphone time per day is expected to come to three hours and 19 minutes this year. Daily time with connected devices — mainly CTV but also including game consoles, set-top boxes such as Roku, Blu-ray players, and wearables — will reach one hour and 47 minutes in 2022 and rise to one hour and 57 minutes in 2024. The rise of CTV is increasingly drawing advertiser interest; ad spending remains much less than traditional TV, but the gap is closing. US advertisers will spend $18.89 billion this year on CTV, up 33.1% over 2021.”

To Be Ad-supported or Not to be Ad-supported?

SVODs have been a topic of discussion and their popularity increased last year once Netflix and Disney+ joined the ad streaming party. Many consumers are settling for ad-supported options because all these subscriptions are starting to add up, and people are always looking for a way to cut corners financially. 

According to a recent Whip Media survey, consumers report their current streaming spending is at about $48 a month in the US, and the majority don’t plan to increase it.

Cathy Oh, Vice President, Global Head of Marketing & Analytics, Samsung Ads

“With the rise of new FAST offerings, It’s clear that consumers and platforms are embracing the value exchange between audiences and advertisers. In a recent Samsung Ads consumer survey, we found that nearly 75% of viewers would switch to a free or lower-cost tier of a streaming service when given the option. As FAST is a win for all parties, we expect a rapid rollout of new AVOD and FAST tiers in premium/SVOD platforms to match consumer demand in 2023.”

Matt Sotebeer, Chief Strategy Officer at Digital Remedy

“Streaming giants such as Netflix have announced ad-supported subscription tiers with favorable pricing in exchange for advertising within the content. This will open up new inventory, new audiences, and new opportunities for marketers to lean into CTV as an opportunity to deliver performance.”

Expect More Mergers

Last year we saw Hulu and its sister app, Disney+ raise their prices, but with a bundle of Hulu, Disney+, and ESPN, consumers can omit the individual bundle price increases. And after the merger of Waner Bros. and Discovery this year, coming spring of 2023 we can expect to see a merger of HBO Max and Discovery Plus streaming services. 

Matt Spiegel, EVP, Media & Entertainment Vertical, TransUnion

“The threshold of streaming services offered to consumers could propel mid-tier platforms to consolidate. With more premium services entering the market, consumers must choose wisely where they spend their household budgets. 31% of 2,612 Americans surveyed in March planned to cancel some subscription services this year, per a Recurly study. From October 2021 through May, retail product subscriptions have fallen among the major US age groups, per PYMNTS.com. The average number of baby boomers and seniors subscriptions during that time slipped from 2.2 to 2.0, while other generations saw steeper drops—Gen Z and Gen X subscriptions fell from 4.9 to 3.6, and millennials from 5.6 to 4.7. They will likely gravitate towards mass market subscription services and free ad-supported streaming, making niche players acquisition targets for both upstream and downstream services.”

Katie Conklin, Former Director of Affiliate Operations, Live Events, and Network Partnerships at FOX

“We will see mergers in 2023. We could see 2-3 in the next 12 months. With sports rights reaching their peak in terms of price for their league(s), we could see a few Broadcast Companies and Streaming Companies merge to offset the cost of the sports rights. Additionally, we have seen traditional shows like Law and Order, Grey’s, etc., maintain their audiences. However, new shows in the last few years have struggled to succeed. Pairing a streaming company and broadcast company will help bring brighter success to these traditional shows.”

Don’t Expect A Single Solution to Solve Measurement Issues

Ad tech professionals always look for the best ways to resolve CTV’s measurement challenges. The industry is becoming more and more compartmentalized and disjointed, making measurement even more difficult. Below you will find some thoughts on measuring consumer attention and the IAB’s Video Watermark Technology.

Albert Thompson – Managing Director of Digital Innovation at Walton Isaacson

“The most important thread of ad effectiveness relates to “attention measurement” given that “attention,” as consumer behavior, is the new real estate. Agencies and brands will begin a greater orientation around advertising formats and channels that garner the most consumer time and attention.”

On IAB Video Watermark Technology

“The introduction of the Video Watermark will establish a global standard based on “credibility” while reinforcing the need for interoperability, consistency in measurement, viewability verification, and ultimately improvements in addressability. Both Tech Lab advancements from the IAB (i.e. TV Roadmap and Video Watermark) provide the industry a much-needed “North Star” so that Streaming Platforms, TV Networks, and Device manufacturers refrain from merchandising their independent narratives for the TV, CTV, and Video landscape.”

Engaging the Right Audiences Will Be a New Focus

When it comes to CTV (and media in general), 2022 was not only about the re-emergence of life post-pandemic but also about figuring out where audiences will migrate and how to reach them. It was all about subscriber growth, total reach, and big numbers. Now the conversation is shifting because the right questions were not being asked. Instead of asking, “Are we reaching enough people?”

We should be asking: 

• Are we engaging the right people? 
• Is our engagement creating impact? 
• Are we finding quality moments? 

Mike Richter, SVP of Global Revenue Operations at Trusted Media Brands

“This year (2023) will add another variable to the equation, engagement/attention. Measurement for the sake of reach/viewability only tells us if an advertisement has been viewed, but it does not allow us to learn if it made the impact as intended. We must refocus on what we are ultimately trying to do in advertising — supporting content creation/distribution by creating meaningful moments where an advertiser can connect to the viewer. This means the focus should be on the quality of engagement – how tuned in is the viewer; is the moment contextually suitable, and will the moment allow the advertisement to make the intended impact? As a media company, we must remember we are not selling content subscriptions to our advertisers. We are selling subscriptions to our moments of engagement.”

The post 7 Ad Tech Pros Predict CTV, TV, and Video Trends for 2023 appeared first on AdMonsters.

Now we are seeing ad tech companies do the unthinkable, going from being competitors to becoming frenemies but for the greater good.

Aniview and diDNA, an end-to-end video advertising company and an SSP, have collaborated to bring more revenue opportunities to publishers, and the partnership is flourishing so far. 

“I think there is a bigger need for more collaboration than competition,” Gwen Wiscount, CRO of diDNA, explained. “The increase of knowledge share and overall brainpower is more beneficial to both our publishers and Aniview’s publishers alike.”

The two-sided partnership between Aniview and diDNA is one where both companies help to service one another’s publisher partners to retain more revenue. The collaboration started a little over a year ago and speaks to the constant evolution both companies are looking to make. 

The Power of Partnerships

At this point, both companies are fully embedded within each other and communicate regularly. This ongoing partnership allows both companies to provide insight and collaborate to determine the best strategies for addressing new shifts in the industry and product releases in the market. 

Aniview and diDNA cover a large part of the publisher ecosystem, and at the end of the day, working together allows both ad tech companies to stay ahead of the curve. Even more impressive is that their frenemy relationship with one another doesn’t just stop there. diDNA is a top Google MCM partner, and Aniview is welcome to take advantage of this aspect of its business.

“It’s all about the strength of partnerships and the strength of working together versus against each other. Because of the opportunities that both Aniview and diDNA have based upon our different standings with Google and other entities, we’re able to hear new happenings in the ecosystem before things come about,” Wiscount explained. “So with that, we can work on the forefront to prepare for what’s next, which has been extremely helpful.”

The reality is that ad tech companies are equally important to one another, but in some cases, there can be a substantial benefit because of the technical mindsets. diDNA’s partnership with Google allows them to have some of the highest-quality video inventory. Because of that standing and the quality, they also have unique opportunities to beta test various features, functionalities, and tools that are not yet released to the market. This beta testing happens through Aniview. 

When beta testing, both companies keep in mind that it’s for the shared interest in collaborating for the betterment of publishers. This enables them to approach testing from several sides. Transparency is crucial to the success of this relationship.

Should We Expect to See More Frenemies in the Future?

As the ecosystem evolves, we can expect to see more partnerships like these in ad tech. Hopefully, ad tech companies will realize the power of bringing their forces together as a win for publishers and the entire ecosystem. Partnerships like Aniview’s and diDNA’s benefit publishers because it allows them to see the most revenue they can from their inventory. And the two ad tech companies benefit because of their collaboration and the integration of each other’s technologies. 

“A couple of years ago, it was very common to have so many people involved in one transaction, and then there came ads.txt and Sellers json, where they tried to get the least amount of partners possible in that same transaction,” Yael Schuster, VP of marketing at Aniview, explained. “We’ve learned over time that the number of partners is not a matter, but the quality of those partnerships. We don’t see the evolution as just direct relations, but the right relations.”

The post Two Heads Better Than One: Aniview & diDNA Join Forces to Drive Pub Revenue appeared first on AdMonsters.

However, managing ad operations can not only be time-consuming and costly, but it can also be a very complicated process, particularly for those who are not well versed in the nuances of the ad ops world, especially with navigating the ins and outs of Google Ad Manager. 

The solution? Turning to a Google Certified Publishing Partner like OAO — a full-service, digital ad operations agency that focuses on publisher-side ad operations — for guidance and access to exclusive services. 

As one of the largest and most popular ad servers and programmatic platforms in the industry, Google Ad Manager 360 is the preferred choice for most publishers to grow their business, from increasing ad revenue to creating a comprehensive ad strategy that allows them to focus on what they do best and leave the rest to the experts.

Google Certified Publishing Partners such as OAO can provide high-quality ad ops services, products, and support at multiple levels, tailored to each company’s size and individual needs, all geared toward increasing that publisher’s revenue and streamlining their operations, using the most innovative solutions Google has to offer. 

Working Well with Google’s AM360 

Google’s AM360 is a multi-faceted ad server that helps publishers generate revenue by assisting in managing the assets and delivery of sold campaigns while also tracking and reporting on the results. The AM360 platform runs the gamut, allowing publishers to advertise across display, mobile app, video, gaming, newsletter, CTV, and programmatic channels with ease. 

This platform is indeed one of the oldest in our industry, and according to Advertiser Perceptions’ SSP report for the second half of 2021, Google is the most used and preferred supply-side platform among publishers surveyed. In fact, 73% of those surveyed said they use Google Ad Manager.

Not only is AM360 one of the best publisher ad servers available, but it is also a prerequisite to gaining access to Google Ad Exchange (AdX), which is designed to programmatically connect advertisers with high-quality publisher inventory.

Most publishers do not meet the requirements to access AM360 and AdX on their own and must select a partner company to work with in order to gain access. As an authorized Google Certified Publishing Partner (GCPP), OAO is approved to do just that. 

AdX functions as a platform where buyers and sellers transact using real-time bidding. Publishers and advertisers prefer working with AdX because it is held to the highest industry standards for inventory and network ad quality. AdX is also the industry leader in uniting many different Demand Side Platforms (DSP) into its exchange, which fosters increased demand and higher CPMs for inventory.

Finding Success Through Partnering with OAO & Google

Choosing the right partner is a critical component for ensuring long-term success in the digital space. First and foremost, partnering with a GCPP such as OAO gives a publisher access to a vast amount of ad ops knowledge, skills, expertise, guidance, security, and capacity. These partners have been carefully vetted by Google, have passed Google’s product certification exams, and have proven track records for helping their publishing partners thrive. 

Beyond that, in these uncertain times having an ad ops partner in place helps publishers navigate and tackle anything that comes their way. For instance, decreased team size or high turnover. For more detail on why this is important, this recent article about “The Great Resignation” from OAO further explains this concept.

Fully based in the United States and now in its 20th year of business, OAO offers its publishing partners a wealth of experience and expertise. As a GCPP, OAO has been authorized to resell both AM360 and its predecessor, DART, since 2006. Since the GCPP program was conceived in 2015, OAO has continued to meet the high standards Google has set in place, cementing its legacy of being one of Google’s premier trusted partners.

While OAO is able to provide its customers with the traditional suite of ad ops products and services, such as campaign trafficking and management, platform implementations, monetization services, and AM360 support, it has also broadened its horizons to include custom solutions that leverage AM360’s API endpoints to seamlessly integrate with the ad server. These custom solutions are part of OAO’s AM360+ offering. 

“We’re constantly building and innovating at OAO, a company founded by ad ops veterans and composed of ad ops professionals who are always delivering on what ad ops does best: Finding ways to solve problems, grow business, and, as our industry is always expanding and becoming more complex, work smarter not harder. We built our AM360+ product suite to help publishers get the most out of both AM360 and their ad operations teams,” said Craig Leshen, President of OAO.

How OAO’s AM360+ Boosts Profit

The AM360+ program offered by OAO includes OAO Email Ad Connector (EAC), OAO Alpha Video (AV), and iAdOps. These three custom solutions are key to driving engagement and simplifying processes, ultimately leading to increased revenue. 

OAO Email Ad Connector serves as a fundamental connection point allowing advertisers to get in front of target customers via email newsletters – a touchpoint that, according to Statista, 86% of U.S. advertisers spending at least $10k on digital advertising annually agree is a vital connection between a brand and consumers. In addition, 88% of these advertisers believe newsletters will increase in importance with the absence of third-party targetable data. 

EAC integrates seamlessly into the AM360 network and enables publishers to continue serving sponsorship, rotational, SOV, network, and house ads targeted to newsletters via AM360. OAO has added the ability to target first party audience data segments and enable both direct and programmatic monetization of unsold inventory through partnerships with select demand sources, all without the need or cost of managing an additional ad server.

To help drive incremental revenue, OAO Alpha Video integrates easily with AM360 and does not require publishers to incorporate additional platforms, to manage demand source relationships, or deal with intensive integrations. This custom add-on allows publishers to monetize unfulfilled video inventory, working with almost any type of video demand source, by simply trafficking a single creative tag in the AM360 ad server.

Finally, iAdOps is an efficiency tool that helps publishers navigate the most essential AM360 and third-party campaign data quickly and with a user-friendly interface. The primary goal of this tool is to foster efficiency by reducing the number of steps required to access, display, observe, and share key campaign and performance data, across different teams and stakeholders. 

The iAdOps platform enables publishers to easily monitor the health of their campaigns, track metrics, monitor discrepancies, identify unfilled impressions, check the performance of AdX and Open Bidding demand partners, and even access custom reports that OAO can develop on their behalf. 

Working with Google and OAO, a trusted Google Certified Publishing Partner, can truly help your business ascend to the next level. It is also important to remember that not all ad ops providers are created equal. Google’s GCPP stamp of approval is only granted to select ad operations providers who have been carefully vetted by Google and have a proven track record of helping publishers succeed.

Learn more about OAO and read its “Ad Serving Solutions” white paper here.

The post Joining Forces with a Google Partner Simplifies Processes & Increases Publisher Success appeared first on AdMonsters.

For some, the recent innovation sets a new precedent for digital content. For others, it is a fad that will dwindle away in the next couple of years. TMB and Theta Labs’ recent collaboration provides an example that leans toward the former. 

TMB’s Pet Collective NFT launch follows a highly successful NFT collaboration with FailArmy that sold out in one second. 

Pet Collective is one of the largest animal-based media brands with over 47 million social media followers. For their latest collection of NFTs, TMB curated a collection of sweet and hysterical animal moments found around the internet. The collectibles are available for purchase on Theta Labs marketplace, ThetaDrop. 

To get the inside scoop on TMB, Theta Labs, and all things NFTs, we chatted with Jacob Salamon, Vice President, Business Development, TMB. We discussed TMBs’ new NFT collection, the benefits NFTs and Web3 could have for digital media companies, revenue diversification, and more. 

Andrew Byrd: Can you tell me about the process of collaborating with Theta Labs and Pet Collective to create these exclusive NFT collectibles?

Jacob Salamon: TMB and Theta Labs have forged a multi-platform partnership, including bringing our linear FailArmy and The Pet Collective streaming channels to Theta’s decentralized video network. 

We also partnered to launch our two first NFT collections, including our recent drop for The Pet Collective last Friday. We worked closely with Theta to identify the best viral user-generated clips from our library, design fun challenges for collectors, and promote the drop to our respective communities. There is a lot of trust and collaboration between our teams, which makes for a wonderful and productive partnership.

AB: Before TMB and Theta Labs collaborated for the Pet Collective NFT collection, you created an NFT for FailArmy that sold out in one second. Can you tell me why your company decided that investing in NFTs was good for your brand? 

JS: Blockchain and NFTs represent a number of unique opportunities for media and entertainment companies, but TMB was uniquely positioned to experiment with NFTs as it pertains to user-generated content. Through the acquisition of Jukin Media, TMB has a stronghold in representing viral user-generated clips from across the Internet. 

Our hypothesis was collectors might not only be interested in purchasing fine art NFTs, but they might also be interested in owning viral ‘moments captured by everyday people around the world. 

Given the iconic nature of our FailArmy and Pet Collective brands to curate the best of the Web, we were excited to see if minting and selling NFTs could be an innovative way to participate in Web3, give collectors fun new content for their wallets, and earn incremental income for the video owners we represent. 

AB: You were quoted saying that your company is “constantly looking for new ways to push the boundaries of next-generation digital storytelling.” Do you think having well-thought-out and creative assets in your marketing is important for the overall user experience?

JS: Absolutely! Every touch point with our brands is a marketing opportunity, and we work hard to ensure our marketing assets — whether for our NFT drops, commerce products, or anything else — are fresh and relevant for our audience. 

AB: It seems that one of the core tenets of your company is to help your clients to monetize their content. In a time when publishers are looking to diversify their revenue streams, do you think investing in NFTs could be a beneficial solution? What other advice would you give to companies to further diversify their revenue? 

JS: We’ve licensed user-generated clips for clients in over 100 countries, and to date have paid our content creators over $35M in royalties. So for us, we’re proud of not only what we can offer our advertising and publishing partners, but also the revenue we generate for the content creators and everyday people we represent, who are capturing real moments that audiences across the world relate to. 

Our content team sources the newest viral videos on the Web and is refreshing our library daily to offer our advertising partners the most inspiring and engaging content for their projects. So this idea of curating the best user-generated content and finding ways of monetizing it wasn’t new, but NFTs offered a unique new opportunity. 

If your brand has a unique set of assets, interesting heritage and history, or a set of premium content behind a paywall, NFTs offer an interesting opportunity to monetize in a new way. 

NFTs aren’t a perfect fit for everyone, so it’d be tough to make a blanket recommendation for other media businesses. But if your brand has a unique set of assets, interesting heritage and history, or a set of premium content behind a paywall, NFTs offer an interesting opportunity to monetize in a new way. 

Outside NFTs, I think media companies can look at revenue diversification on a number of different vectors: core lines of business, international, new trends, commerce, and syndication. Every business is different, of course, but wearing an entrepreneurial hat and investigating where new opportunities might be waiting is a fun and productive way to uncover new streams of revenue.

AB: Your company has praised the benefits of Theta Labs’ blockchain technology, ThetaDrop, which helps you leverage viral moments from the internet into NFTs. Why was it important for you to invest in this technology?

JS: We take our clip representation responsibilities very seriously. What this means, specifically, is we are always searching for new ways to earn revenue for our video owners, whether that be in licensing footage for use in national advertisements, in entertainment, for news, or beyond. 

The confluence of trends in Web3, crypto, and NFTs presented a unique opportunity to monetize clips in a new and exciting way. Theta’s specific focus on video in the Web3 space made them a perfect partner to dip our toe in the waters — to learn about the benefits and value of blockchain — while earning incremental income for our video owners. 

AB: Many people in the ad tech industry believe that NFTs and Web3 assets are a fad. What would you tell the naysayers about the benefits of this particular technology and market?

JS: While there is certainly turbulence in this market today, we believe in the long-term promise of the technology and believe that those who invest and stay the course will benefit 5-10 years from now. The underlying fundamentals of Web3 and blockchain are technologies that I believe are ultimately here to stay. 

As for how these changing trends in crypto value have affected the market, I think they’ve led to a healthy recalibration of prices. In line with these trends, our NFTs were priced at $20 and $25, ensuring everyday collectors had an opportunity to participate. We’ve even seen new primary NFT drops that are completely free, which is another exciting and positive trend for consumers. 

To the naysayers, I’d say consider entertaining a less stratified opinion about what Web3 and NFTs are and aren’t. Simply put, they are an agnostic set of technologies that enable decentralization, efficiency, proof-of-ownership, unlocking access, and more. How they get used, how they might benefit business and consumers, and what future they hold is all to be seen. Regardless of the fad status, we think there’s something there. 

The post TMB Launches Pet Collective NFT: Implications for NFTs, Web3 and the Future of Revenue Diversification appeared first on AdMonsters.