Foxtel Media has launched a new industry think tank: the Video Futures Collective.
Lead image: Foxtel Media CEO Mark Frain.
This new think tank to which Foxtel Media, YouTube, Samsung Ads, Disney Advertising and SBS have already signed up, will work to “spark” conversation, solve issues and shine a spotlight on the fast-growing Australian digital video and streaming landscape.
The Video Futures Collective will explore a broad range of ideas related to video advertising in a consultative and transparent manner with the wider media industry and is envisaged as open platform for discussion and co-operation on industry issues rather than a formalised body or organisation.
Foxtel Media CEO, Mark Frain said, “Over the last 10 years the media industry has gone through rapid change and we now operate in an environment complicated by the fragmentation of video platforms – making it increasingly challenging for advertisers to capture a holistic view of the market. In parallel, streaming has now reached a tipping point of scale and influence, creating more opportunities for brands to engage and connect with audiences.”
“We believe open and transparent industry discussion between streamers, broadcasters, publishers, and advertisers is necessary to influence industry best practice. To that end, we are delighted to announce the launch of the Video Futures Collective – an inclusive think tank driven by shared principles.”
The think tank’s first priority areas are building consensus on streaming video basics such as naming conventions, definitions and best practices; and supporting training and education.
It will then move onto improving collaboration on industry-wide case studies and exploration of innovation across measurement models before finally investigating closer integration with agencies around planning and buying.
Adam Sadler, SBS’s director of media sales said: “SBS has long had an audience-first approach which has seen us put SBS On Demand at the forefront of our strategy. We are pleased to join this think tank which will bring together many of the key players in the fast-moving streaming market. We see this move as complimentary to our ongoing support of existing industry currency.”
Caroline Oates, head of YouTube Ads and programmatic, said: “Despite years of convergence between digital and linear video, there is still yet to be a single place where video streaming providers align to discuss the issues and opportunities facing the industry. While we are competitors, a transparent and collaborative think tank that identifies issues that require industry buy-in and collaboration can play an important role in driving the entire industry forward.”
Kristiaan Kroon, chief investment officer, OMG Australia, said: “The launch of the Video Futures Collective shows leadership, innovation, and strong collaboration. It is what clients need to see from the industry as fragmentation and complexity increase. Think Tanks provide research, advocacy and we hope in this instance recommendations for greater standardisation and simplicity to benefit advertisers”.
Lucy Formosa Morgan, national managing director, Magna, said: “In 2024, advertisers are faced with a rapidly evolving media environment. The rise of streaming and the emergence of new advertising options is making media decisions more complex than ever before. We welcome any initiative that can help cut through the noise and bring media companies together to explore key issues like measurement, attention and reach.”
