If you’re attending this week’s TV of Tomorrow Show in New York City, we invite you to join us on Thursday, December 7 at 1:15pm for our panel discussion “Data-Driven Advertising: Hurdles and Opportunities.”
The panel will feature Premion President Jim Wilson and executives at the forefront of advanced TV advertising. Topics will include brand safety, blockchain, addressable, consolidation and more.
Blockchain offers tremendous promise to fix the growing ad fraud problem, but it will take greater collaboration among industry players to drive its progress. According to a CNBC report, ad fraud will cost brands $16.4 billion globally this year, and nearly 20 percent of total digital ad spend was wasted in 2016.
As a technologist, I keep a keen eye on how our industry can harness the power of blockchain. As such, we at TEGNA along with MadHive and IBM are founding members of AdLedger, the adtech industry’s blockchain consortium. Our consortium meets regularly to drive our blockchain agenda forward to bring increased transparency and data security to the ad tech supply chain.
Working with MadHive, we are building out a path for blockchain technology to help reduce fraud and costs in the advertising supply chain, in areas such as; alleviating manual reporting and reconciliation and improving reporting accuracy across ad serving technologies. By taking a leadership role in applying blockchain technology to advertising, we can bring greater trust and transparency to our advertisers and content partners. For Premion, we see the potential to create a decentralized network amongst our OTT content partners where both impression data and audience data can be shared in an anonymized, yet secure network.
If you missed the Blockchain Panel at The TV of Tomorrow Show last month, no worries, you can catch the podcast here, featuring Premion President Jim Wilson and MadHive CEO Adam Helfgott.
Premion announced its partnership today with MadHive, a blockchain-based ad tech solutions provider. The partnership is in direct response to the growing fragmentation and lack of scalability in OTT advertising as well as the lack of transparency in the industry as a whole. By harnessing MadHive’s blockchain-powered solutions, Premion seeks to bring increased transparency and accountability to the opaque ad tech supply chain.
You can read more about it here: Digital TV News Net