Media and Tech Companies to Address Advertising on Smart TVs
Some of the top media and technology companies in the country are coming together to collaborate on the development and deployment of new advertising standards on connected TVs. Dubbed Project OAR (Open Addressable Ready), the group includes names like Comcast, NBCUniversal, CBS, Hearst Television, AMC Networks, and VIZIO, among several others—all of which will be working towards the goal of revamping and improving the advertising experience on smart TVs.
Of course, while the goal of the new working group is to create an advertising environment that’s more relevant to the end user, the need for innovation in this space is really apparent with the changing nature of how consumers engage with their TVs. The cord-cutting phenomenon is very much at play here. As consumers more frequently take to opening a video streaming service on their TV, as opposed to watching cable, the reach of advertising is impacted greatly. So, it’s only natural for the media companies who rely so heavily on those advertising dollars to want to explore new options and try to rework the advertising landscape.
We get it. We’re publishers, too.
So, Project OAR will give ad-inventory owners the ability to come together and discuss ways to improve and better monetize their ad packages. And, leveraging the data that they’re able to collect from opted-in consumers, they’ll look to find new ways to better target ads to the end user, thus, improving the value to potential advertisers while inherently improving the advertising experience for the user.
“TV programmers reach a massive and passionate audience, but have lacked the precision targeting of digital,” Mike Dean, Senior Vice President, Advanced Advertising and Automation at CBS, said in a statement announcing the formation of the working group. “Through OAR, CBS will combine relevance with our reach to deliver a better experience to our viewers and better ROI for our advertisers.”
At launch, it looks like VIZIO is the only stated TV maker involved with Project OAR. Whatever the result of this group’s work is, VIZIO said it will be able to deploy the new standards onto its own platform. But the company said it also understands that the protocol will be designed as an open platform that can work on any internet-connected TV.
The group said it is currently developing the new standards and hopes to have a working product showcase in Spring 2019 with full deployment ready by early 2020.