LiveRamp introduces new streaming forecasting tools as well as data sharing and measurement frameworks within its TV platform. The move aims to create greater visibility for media buyers, sellers and programmers and improve advertising results.
Data connectivity and advertising technology platform LiveRamp today announced the integration of streaming inventory forecasting and data collaboration capabilities into its television platform. The move allows media buyers and sellers to better activate and accurately measure the impact of various campaigns across all TV channels, including streaming, linear and digital video.
The Company Says Its TV Platform is the “First and Only End-to-End Solution” for Marketers, Programmers and Sales-Side Platforms to Predict, Plan, Execute and Measure All Types of TV Media , according to a statement released today. LiveRamp has already signed a number of partners for the new platform, including Publica, Scripps and Philo.
The decision to launch a new buying platform was made in response to the challenges that currently exist in the CTV ecosystem, according to Jay Prasad, Chief Strategy Officer of LiveRamp TV: âThere is currently no platform. end-to-end marketplace that enables brands, programmers and platforms to plan and measure campaigns in a coordinated fashion to a high-value audience and holistically across all channels. Today, this is done in a fragmented manner with no common identity or metric, and involves multiple vendors and solutions.
âTo level the playing field, brands need a new infrastructure to securely and easily unlock the value of their audience data and forge deeper media partnerships, while maintaining complete control and visibility of their proprietary data.
âAs a neutral provider of technologies and solutions to all parts of the ecosystem, LiveRamp aims to enable a TV identity that marketers and programmers can trust and rely on to fuel activation. , addressable data measurement and collaboration. “
The question of connected TV measurement
One of the most formidable challenges in the CTV space today is measurement. As it stands, measurement in space is hampered by the fact that there is no common currency. Various CTV platforms use their own credentials, and most streaming services rely on their own proprietary frameworks for measurement. At the same time, countless third-party vendors offer their own ad measurement and verification services. The result is a fragmented landscape with little ability to accurately measure the impact of advertising efforts congruently across platforms and channels.
In an attempt to resolve some of the mismatches that are currently occurring with measuring ads on connected TV, traditional linear TV, and digital video, the new LiveRamp CTV platform uses an identity-based framework called RampID. Adtech companies are increasingly turning to identity-based solutions to prepare for the demise of the third-party cookie in 2023. The company says RampID will not only improve the measurement of cross-channel ads, but will also ensure that ” each point of contact is first secure, sustainable and scalable, âaccording to today’s announcement.
Prasad, for his part, is convinced that this decision makes sense. âThe future of all metrics will be rooted in identity and will require data collaboration to ensure that the data sets required to power all currencies are available,â he said.
The benefits of data collaboration for adtech companies
LiveRamp’s new identity solution will be the driving force behind media planning, execution and measurement on LiveRamp TV. The company claims that its TV platform offers a number of distinct advantages. On the one hand, it allows brands and media sellers to connect multi-screen data such as impressions, which aims to improve the accuracy and precision of ad measurement and analysis.
It also creates greater visibility and seeks to improve planning by offering forecasts for multi-screen audiences (including CTV’s) for every purchase. Additionally, the platform is now equipped with multi-screen measurement tools that allow advertisers to track important metrics including app install rates, web visits, and sales, providing brands with transparency. increased campaign performance.
Together, these offerings produce information that can be used to optimize media and content buying strategies.
It’s all about timing
LiveRamp believes the timing of the new integration to launch is ideal, in large part thanks to the growth in audience and advertising for CTV over the past year and a half. In fact, between the third quarter of 2019 and the third quarter of 2020, streaming adoption increased by 11% among consumers aged 35 to 54 and by 18% among those 55 and older, according to data from Moat, a branch of Oracle Advertising. And marketers have taken note: A recent study from eMarketer indicates that CTV purchases in the United States grew by more than 40% year-over-year in 2020.
“Driven by the meteoric growth of CTV’s audience, the fragmentation of viewers, and the call for more dynamic and accurate measurement solutions, the television industry is changing rapidly,” Prasad told The Drum. âWe are striving to transform the way the industry can collaborate, activate and quantify against high value audiences across television, including linear and streaming. “