Ad tech company MediaMath is leading a group of 16 high-profile companies in “righting the wrongs of a digital advertising industry that evolved rapidly over the last decade with no purposeful design”.
The group has launched the initiative, to be named ‘Source’, to help brands get more out of digital advertising with less effort and to nullify the ever-present threat of ad fraud.
“We set out to change marketing for the better. Unfortunately, the purity of our industry’s intentions when we built the digital infrastructure have gotten lost in fraud, waste, and irrelevance. It’s created more ads instead of good ads and minimized the value of quality supply in its purest and most transparent form,” said MediaMath CEO Joe Zawadzki.
“Simply put, instead of brands being able to focus on growing and deepening direct customer relationships, much of their time is sucked up with the operational and service burdens of a broken ecosystem.
“The supply chain must be rearchitected to fuel growth and health for brands and free creatives to create, and in turn operate a more trustworthy ecosystem with aligned incentives for all.”
MediaMath has called in the assistance of Rubicon Project, Telaria, Acoustic, Akamai, Business Insider, Crackle Plus, Havas Media, IBM Watson, Inscape, IRIS.TV, News Corp, Octopus Interactive, Oracle Data Cloud, Publishers Clearing House and White Ops to get the project off the ground.
The foundations for the project were laid in Cannes earlier this year, when a partnership with White Ops and Rubicon Project to fight fraud and improve visibility into the digital supply chain was announced.
It has been reported that MediaMath is in discussion with Google and Amazon to join the project.
How’s it going to work?
Source is based on three pillars: Accountable, Addressable and AI-Powered.
In particular, it is focussing on “real impressions on real media properties” to create a fraud-free supply chain.
It is also focusing on creating a single view of advertisers across desktop, mobile and TV, while “prioritising privacy”.
“For too long, content owners have not been incentivized to protect the quality of their real estate. Source puts brands, agencies, and content owners alike back on equal footing, all sharing a common goal to engage consumers across the globe and earn their trust,” said MediaMath global head of ecosystem Jeremy Steinberg.
MediaMath says as well as correcting existing problems, Source is also about addressing the rise of streaming TV.