The Attention Economy by Karen Nelson-Field
Author:Karen Nelson-Field
Language: eng
Format: epub
ISBN: 9789819700844
Publisher: Springer Nature Singapore
4.
Reconciling different metrics for the same âcurrencyâ event is a challenge in the alternative currency landscape, prompting questions about the effort required to arrive at the same number.
5.
Plausible future scenarios include one dominant currency alongside independent measures, multiple currencies anchored to a common foundation, and wholly independent currencies.
6.
The multi-currency transition is a collective effort, not driven by a single organization or initiative.
The evolution of measurement and currency in advertising signifies a significant transformation in the industry's landscape. We find ourselves in the midst of this transitional phase, with many unanswered questions. However, one thing is clear: the future of multi-currencies (or measurement to complement the chosen currency) is inevitable, and how we adapt to this change will shape the next three decades of our industry.
MEANWHILE IN THE REAL WORLD
It appears that a public breakup with Nielsen has taken place in the Land Down Under.
An overdue move by a bold CEO in Australia broke up with traditional measurement during their upfronts in late 2023. Mark Frain, CEO of Australia's biggest streaming service has said that measurement is too reliant on claimed behavior and wants to make their customers feel more secure about their ad dollars on their platforms. âWe are taking measurement into a new age. A future where your investment is accurately measured.â This will literally shake the foundation of TV measurement and start the ball rolling for change.
Foxtel decided to break away from the OzTAM ratings system, marking a significant shift in Australia's television measurement landscape. Foxtel Media CEO Mark Frain announced that Foxtel would support a new viewing measurement system initially based on data from its million set-top boxes, with Kantar providing the analysis. However, the more groundbreaking development is the collaboration with US-based measurement provider VideoAmp, potentially reshaping TV measurement in Australia for the first time since 1999, forming the Video Futures Collective. This move reflects a shift in the industry's dynamics, similar to the changes in 1999 when OzTAM replaced Nielsen as the ratings provider.
Australia appears to be heading down a path similar to the frustrated US media sector, with the emergence of alternative currencies. While this transition may bring complexity, it is considered inevitable, and advertisers need to prepare for a multi-audience currency universe. The outcome may ultimately lead to a reunion between broadcaster assets and digital streaming services, but the path forward remains uncertain as the market evolves, creating room for alternative currencies.
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