Programmatic local TV gets a boost with launch of Cox Media-backed Videa
At the TVB Forward Conference last week, Videa, which is backed by Cox Media Group, launched a supply side platform (SSP), which will enable local TV broadcasters to make inventory available programmatically.
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Being backed by a competitor hasn’t held back broadcast groups like Graham Media Group, Hearst, Raycom, and E.W. Scripps, among others, from signing on as launch partners. In fact, it may be part of the appeal. “Videa’s platform is unique because it is the only sell-side platform that was developed by broadcasters for broadcasters, a much different approach than that of a digital real-time bidding (RTB) model,” Shereta Williams, President of Videa, told Found Remote. “Videa also works across existing sales channels with full schedule inventory, not just the leftovers. Videa provides the ability to avail in seconds for inventory up to a year in advance.”
Videa is also working directly with buying agencies like Carat’s Amplifi, Starcom, Empower MediaMarketing and U.S. International Media. Inventory will also be available through Mediaocean’s Spectra and STRATA.
According to a recent report from BIA/Kelsey, programmatic buying will likely account for no more than 1 per cent to 2 per cent of the local spot television marketing in 2016.
Videa seeks to change that.
“Videa will transform local TV buying by enabling simplified workflows and optimizing pricing with data -- built in accordance with industry standards -- to boost broadcasters’ sales and increase revenue,” Williams said. “Videa enhances the sales process, not replaces it. By providing buyers with access to real-time inventory, Videa helps agencies make smarter, more targeted television buys with greater order transparency.”