Australian broadcasters will partner with Nine's automated television trading tool 9Galaxy to launch a demand-side buying platform (DSP) for the industry.
The DSP will provide agencies with a single interface to buy television across platforms and broadcasters in the Australian market.
The platform will simplify the process for buying linear TV, live streaming and broadcaster video on demand (BVOD).
ThinkTV CEO Kim Portrate says this is a "red-letter day" for the television industry and its agency partners.
"The collaboration of broadcasters to select the technology to allow for a single platform to purchase TV speaks to the power of the TV business," Portrate says.
"The incredible impact of this move will be felt for years to come.”
It will allow advertisers to optimise reach across platforms and inventory through a combination of data and operational excellence with the VOZ database the driving force of the initiative.
VOZ is a measurement database which combines OzTAM, RegTAM and Nielsen data to quantify audiences across linear television and BVOD.
VOZ is scheduled to launch in early 2020.
Utilising the VOZ database, the DSP will enable advertisers to buy linear television and BVOD against audience segments such as new car buyers or home loan intenders as well as age and sex demographics.
The DSP is expected to be operational by mid-2021.
Media Federation of Australia chairman Peter Horgan says the initiative has the full support of the industry body.
“The combination of a unified purchasing platform and a cross screen audience currency will enhance how we plan, buy and measure across video and television," Horgan says.
"We commend all participants in coming together to create this solution."
Following the selection of the technology platform, an independent entity with clear governance and procedures will be established to oversee the DSP with the commitment of the parties involved pending delivery of a fully costed business and operational plan.
The timeline to launch begins with a period of analysis followed by design, build, test and implementation.
The analysis phase has already begun with the mobilisation of teams for a full assessment of agency workflows which is expected to be completed in early 2020.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at email@example.com