With massive growth expectations in digital video comes massive pressure to deliver high CPM video monetization. We know that content and audience are both there, but we have seen recent headwinds in the media industry, further proof that it is still challenging to find the right metrics to accurately measure, understand, optimize and demonstrate digital audience performance. Without a standard for content measurement that proves to brands and agencies the true reach, engagement and effectiveness of any publisher or creator, digital media can’t succeed and traditional media can’t expand its digital investments.
Today, we are proud to announce we have joined forces with VICE, BuzzFeed and Group Nine to tackle this challenge. Our first step is collaboration on new global audience measurement standards, through an initiative dubbed the Global Video Measurement Alliance (GVMA).
We’re excited to bring together this group and establish the GVMA to help solve this existential crisis in media and provide a trusted standard through which the future economics of digital media will take shape. After a year of research, these top digital publishers embraced Tubular and the GVMA initiative to create new global engagement scoring, providing advertisers with the opportunity to ultimately understand the actual monetary value of their branded content and online video spend.
“Existing content measurement solutions do not adequately measure against the KPIs brands are interested in most. We all know the time spent engaging with content is proven to increase brand recall and lift but is still an afterthought,” said Josh Cogswell, President of Digital at VICE. “I’m excited about the opportunity for Tubular Labs and GVMA to help advertisers better gauge our premium, high impact ad opportunities.”
“Uniform cross-platform measurement is crucial to establishing the video ad unit economics required for digital media to thrive, and all publishers should be aligned and pushing for consistent standards in 2019 and beyond,” said Edwin Wong, Senior Vice President of Research and Insights at BuzzFeed. “We are excited to join our fellow publishers and Tubular for their new initiative to grow the global measurement standards.”
“As audiences continue to shift to mobile, and digital video advertising continues to grow simultaneously, standardizing global measurement is crucial to the evolution of our industry,” said Ashish Patel, Chief Insights Officer at Group Nine Media. “We’re a data-conscious media company built on mobile video and so we’re extremely excited to join forces with like-minded companies to better understand and serve audiences and brand partners around the world.”
We’re excited in our mission to help create the standard for online video measurement. See what AdAge has to say about this effort. And this is only the beginning. Our next step: the GVMA will continue to expand participation with other media, agency and brand partners and work to finalize metric standards over the first half of 2019. We are full-speed ahead on incorporating our past year of R&D and our continued work with our GVMA partners into the Tubular product offering.