Nine, Seven, Ten, SBS and Foxtel have all committed to developing a demand-side buying platform for media holding groups and independent agencies.
The new demand-side buying platform is expected to be operational in agencies by April 2021 and will help give agencies one interface for buying television.
The news was announced at Nine's annual upfronts event this year by sales boss Michael Stephenson.
The technology will allow agencies to buy linear TV, live streaming and on-demand TV, against audience segments and demo’s, measure cross-platform reach and post analyse campaigns in real-time.
"The technology is going to allow every single agency buying group and independent agency to buy linear TV, live streaming and on-demand television against audience segments and demographics," Nine chief sales officer Michael Stephenson says.
"You'll be able to measure cross-platform reach and you'll be able to post analyse your campaigns in real-time."
Its development comes ahead of the launch of Virtual Australia (VOZ), which will allow agencies to track audiences across multiple TV platforms including linear and broadcast video on demand.
It is understood that due diligence has commenced to determine the technical supplier that can deliver the product fit for purpose with readiness for VOZ.
“The launch of VOZ is a great opportunity for TV networks to reset the narrative. As part of this reset, we’re excited to be uniting as an industry to make it easier to buy across TV. The single trading platform will utilise best-in-class technology and we’ll reveal more on this soon," Network Ten chief sales officer Rod Prosser says.
Seven West Media chief revenue officer Kurt Burnette told AdNews that the conversation was not new and that it had started five years ago, however, back then the industry couldn’t align, not just the media side but buy side.
"It made sense then, it makes even more sense now. As a result of the complexity of new TV, it’s planning, buying and reporting. Added to that is VOZ, which is the new catalyst to bring it together," Burnette says.
"The other difference is that technology and solutions are there to meet the current and future needs. Seven is and always has been a supporter and aligned with 10, Foxtel, Nine, SBS and importantly any other broadcaster who want to be a part of the solution.”
Foxtel Media CEO Mark Frain says: "Conversations have progressed to the point where we’ve all seen the potential solution that gets us to collective end game both fast and efficiently.
"We’ve also taken time to get the MFA and its member base on the journey so its become a true piece of collaboration between buy and sell side, where we both benefit from making all of TV easier to transact and measure. The VOZ piece just adds greater capability to the base-line product."
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