The media landscape has evolved so dramatically in recent years- agencies have shifted their focus towards AI-engineered personalization, AR/VR experiential marketing, automated ad buying, smart speakers, and all the like. Yet despite these massive leaps in tech-driven innovation, there hasn’t been much progress in improving transparency and visibility in these marketing campaign strategies. The presence of monopolized ad businesses, particularly Facebook and Google, are partly to blame for the opaque nature of ad buying today, but what the industry is in dire need of is a collective effort for transparency, a resurgence in competition, and a resolution to the excessive ad fraud that marketers are facing today.
The New York Times recently reported that a group of 16 companies – including Oracle, News Corporation, MediaMath, IBM Watson Advertising, White Ops, Havas Media, and Business Insider are coming together in an effort for efficiency, transparency, and competition amongst media entities to keep up with market demand.
In the piece, Joe Zawadzki, chief executive of MediaMath, claimed, “We’re trying to create new terms of trade to modernize the business […] Seeing where every dollar goes — that doesn’t exist today.”
An open marketplace is imperative for the future of marketing, and with the innovation we’ve refined over the last 10 years, it’s absurd that ad fraud runs rampant, leading companies are making 85 cents on the dollar, and we’re given only a handful of alternatives to Facebook or Google in digital advertising today.
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