The online video eco-system is growing up. The launch of OpenVV, an open-source, free-to-use viewability solution for online video, has signalled greater control for advertisers, whilst shining a light on the misdeeds of some publishers.
Display viewability metrics are now commonplace, enabling advertisers to record if their ads are seen or not. Forward thinking advertisers, needing to ensure high levels of quality, accuracy and accountability across their display activity, are demanding these metrics from their agencies and trading desks.
In display, the measurement of ad viewability is now widespread, with many in the industry seeing this as a prerequisite for any display media buy. However, the prevalence of viewability measurement offerings, combined with the lack of an open source solution for display, effectively creates a tax on the industry. In sharp contrast TubeMogul, with the OpenVV initiative, is offering its own freely available, open-source technology as the solution to viewability in the online video marketplace.
OpenVV was launched in mid-2013 and has quickly gathered a number of major online video suppliers to the cause. Infectious Media became the first demand side member of the OpenVV solution in Europe. Having long since recognised the key roles viewability and validation play in online advertising, we actively pursue measurement in all our buying channels, and video is no exception.
The first forays into measuring video viewability on programmatic buying were eye opening and mirrored the initial findings we made in display. Video isn't as viewable as we first assumed and there is mounting evidence to suggest that publishers have been misrepresenting their inventory to boost revenue. Video advertising is expensive, especially good quality pre-roll inventory, and it will continue to be so whilst the supply remains scarce. This acts as an incentive to publishers to find ways to increase their supply of pre-roll inventory in the marketplace. Unfortunately, this supply has not always met the quality needed by the buy side and the amount of 'fake pre-roll' (or in-banner units sold as pre-roll) has become astonishingly high. A recent white paper on viewability quoted a figure of over 100 million fake pre-roll impressions in the market per month.
This mislabelling of inventory is damaging to advertiser confidence, which is why it is the demand-side’s duty to ‘sort the wheat from the chaff’. OpenVV metrics enable us to determine video player sizes and viewability rates by site and the results are pretty stark. Incorrectly labelled 'fake pre-roll' placements show very low ROIs and poor viewability rates. We now have better tools than ever to determine the good from the bad, so dishonest publishers will inevitably lose out. Buyers have the control to easily shift budget and blacklist publishers who don't meet the required standards.
However, the widespread use of iFrame embedded players by publishers severely restricts the ability to track viewability through OpenVV. The buy-side is keen to bring this to the attention of publishers because, even if iFrame inventory is premium, less of it will be purchased as its viewability cannot be confirmed.
Programmatically purchased online video is fast maturing, with increasing numbers of premium publishers selling inventory this way. As in the display space, private marketplaces will be key to achieving a happy balance between buy and sell side goals. With buying tools like “first look”,” private auction” and “exclusive basis” giving premium video publishers the control they need to trade programmatically. Combine this with the welcome and fresh approach signalled by OpenVV, and it will ultimately lead to more premium and accountable video media buys for advertisers.
Ed Halliwell, Product Manager, Infectious Media
