Foxtel Media has launched a think tank, the Video Futures Collective, to explore advertising in the Australian digital video and streaming landscape.
Initial members are Foxtel Media, YouTube, Samsung Ads, Disney Advertising and SBS.
The Video Future Collective aims to be an open platform for discussion between streamers, broadcasters, publishers and advertisers.
“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," said Foxtel Media CEO Mark Frain.
"In parallel, streaming has now reached a tipping point of scale and influence, creating more opportunities for brands to engage and connect with audiences."
The think tank has three areas of investigation:
- First priority areas: Building consensus on streaming video basics such as naming conventions, definitions and best practice; and supporting training and education.
- Second: Collaboration on industry-wide case studies and exploration of innovation across measurement models.
- Third: 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.
"We are pleased to join this think tank which will bring together many of the key players in the fast moving streaming market," said Sadler.
"We see this move as complimentary to our ongoing support of existing industry currency.”
Caroline Oates, head of YouTube Ads and Programmatic, said there is still yet to be a single place where video streaming providers align to discuss the issues and opportunities despite years of convergence between digital and linear video.
"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," said Oates.
Kristiaan Kroon, chief investment officer, OMG Australia, said the launch of the Video Futures Collective showed leadership, innovation, and strong collaboration.
"It is what clients need to see from the industry as fragmentation and complexity increase," said Kroon.
"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 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," she said.
"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.”
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