Yan Liu joined Goldman Sachs' George Tong for a discussion about current disruptions in audience measurement and the future of the industry. Yan touched upon the role of panels in big data, new currencies, and how CTV is disrupting TV.
You can listen to the full webcast here or review the summary below.
The Future of Panels - In the webcast, Yan explains that the future of media currency is shifting from panels exclusively to a fusion between panel data and big data sets, such as set-top-box or server ad log data. Panels are now being used as calibration panels, not data sets on their own. Calibration panels must be fully transparent in order for measurement companies to understand any bias and effectively integrate the panel's data with their big data set.
A short while back, the WFA introduced a framework for cross-media measurement and defined how to fuse data sets. Under these guidelines, the big data set provides the quantity tune-in information - household-level data. Calibration panels are used to get the big data down to the person-level, accurately identifying which member of the household is watching, and supporting correct data for metrics such as co-viewing.
Alternative Currencies - George also had several questions on alternatives to TV ratings as a currency. The industry is debating this topic in earnest. Yan explained that the industry requires currencies that support cross-platform capabilities and effective CTV measurement. TV media is significantly more fragmented than it was when ratings became the primary currency. Relying on only one currency for TV does not enable more sophisticated transactions based on the value delivered. In general, there is demand from both the sell and buy-side to abandon the single currency approach.
Media Measurement Landscape Future - The biggest change impacting the TV industry right now is the explosive growth in CTV. CTV accounts for almost 30% of CTV viewership right now, and that is set to increase every year. Yan points out that as CTV becomes more dominant in the coming years, these publishers, who can accurately measure ad delivery in their own apps will continue to have more control. They will likely pursue partnerships with outside measurement companies (akin to the role that Moat or DoubleVerify plays in the digital space) that will validate their impressions against industry metrics and enable the adoption of alternative currencies.
On the flip side, brands may not want too many alternative currencies - as unlimited currencies will place an undue burden on the buy-side. Instead, Yan predicts that the industry will consolidate around a few key value-based alternative currencies - such as attribution, and attention. Brands want the flexibility to choose between these currencies to select the best one for their specific situation.
TVision is committed to supporting the development of next-generation TV measurement solutions and alternative currencies. Listen to the full webcast to hear more from Yan about the future of TV measurement.
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