Fairfax Media, MediaWorks, NZME (New Zealand Media and Entertainment) and TVNZ have joined forces to create a new local advertising exchange service – the Kiwi Premium Advertising Exchange (KPEX).

Launching in November 2015, KPEX will offer media agencies and clients a programmatic option for purchasing online advertising inventory across New Zealand’s leading media businesses.

Duncan Arthur, KPEX consulting CEO, said KPEX is transformative for the New Zealand programmatic advertising market.

“It’s an exciting initiative and the first time NZ media companies have pooled their inventory to provide the necessary scale for a private marketplace,” he said.

“Advertisers want the efficiency of real-time bidding and the certainty that their ads will appear in brand-safe environments next to quality New Zealand content.”

Powered by Rubicon Project, a global technology company in the automation of buying and selling advertising inventory, KPEX will give advertisers access to Kiwi audiences at scale and across a range of publisher platforms – all via a single transaction.

Fairfax Media, MediaWorks, NZME and TVNZ said their decision to work together is about providing clients with a strong local offering.

“KPEX opens up a range of new opportunities that we were unable to achieve independently, and a viable, local, programmatic Ad Exchange alternative to what is offered by large international players which is good for the long-term health of the local market.

“It will also offer unsurpassed access to New Zealand’s local news, lifestyle and entertainment destinations and will help customers solve measurement and other issues with digital advertising in a massive global pool.”

Initially advertising inventory will be from the four media parties, with other premium local publishers being invited to contribute inventory to the exchange over time.