Adexchanger recently published an article featuring Ian Ferreira of WideOrbit. As digital advertising has outspent TV, many are left wondering how television can maintain its strong foothold in ad spend.
“One of the trends we’re seeing is that advertisers’ spend is moving away from local broadcast to digital. The way to get that back to local broadcast is to make buying local broadcast as easy as buying digital.” – Ian Ferreira, WideOrbit SVP of Programmatic TV.
WideOrbit specializes in the monetization of TV ads by utilizing similar methods to digital. The new methods incorporating into television ad spend could potentially be the key component to placing it back in the number one spot for ad spend.
“We don’t require carve-outs,” Ferreira said. “Buyers can extend offers for the entire roster for a given station on a given day. Sellers can peruse this demand and decide which offers to accept or not to accept.”
“This is not the waterfall model we have in digital,” he added. “We learned in digital that to do holistic yield optimization, you have to have direct and programmatic in the same marketplace.”
WideOrbit founder and CEO, Eric Mathewson created WideOrbit without the As someone looking from the outside, he was able to see the potential outcome and effectiveness that others couldn’t. That same foresight into an unfamiliar industry rings loud amongst the current game-changing leaders in the technology industry.
“Did Elon Musk know a fuck about batteries and electric cars? No. What did he know? Nothing. He knew about digital money. He was an outsider moving into a completely different industry and optimized its potential. Sometimes it takes an outsider to do that. He knew as much about batteries as Eric Mathewson did about television.” – Mark Hughes, CEO of C3 Metrics.
Television advertising still stands with the traditional model. The potential for that medium is still a monumental factor for the industry, but with newer models to better monitor your ad spend, the increase in innovation is going to be the deciding factor for the future of a medium that has spanned over seven decades.
As the evolution of media is changing more rapidly than ever, the urgency for television to structurally reshape how we look at advertising data and the outsider approach to new media are what will keep television above the rising tide of future advertising ventures.