News UK, Mail Newspapers, Telegraph, Guardian and ESI Media to fund cross-industry automated transaction system
National news publishers News UK, Mail Newspapers, Telegraph Media Group, Guardian Media Group and ESI Media have joined together to launch an automated system to simplify the transactions process between publishers and agencies.
Launch: Newsworks has announced cross-industry system
The Publisher Advertising Transaction System (PATS) has been created to counter complications in monitoring the ad booking process. The growth of digital has increased the number of channels through which advertisers book space, making it more difficult for publishers and agencies to track the booking and transaction process. The system will streamline the bookings process for both digital and print, and provide real-time information.
The platform, backed by the IPA Media Futures Group - is not a trading platform and does not provide programmatic trading services. GroupM, Publicis and Omnicom will be consulted throughout the development of the system, which will be developed by Mediaocean. It will be compatible with all agency platforms including Adazzle, Mediaocean, Prisma and proprietary agency software.
Rufus Olins, CEO of Newsworks, said: “There is a real appetite for a system that improves efficiencies for publishers and agencies and we are delighted that three of the biggest agency groups are already working with us.
“You could say this platform is overdue but arriving as it does now, it will offer access to total audiences, across all platforms, and make life much simpler. It is good to see the newspaper industry collaborating on this important issue.”
David Pemsel, deputy CEO of Guardian News & Media added: “The way our readers consume news in print and on mobile devices is evolving rapidly. Today over 40 per cent of the Guardian’s digital content is accessed via mobiles and tablets, and this percentage is growing. We therefore believe it is critical that we deliver a seamless advertising buying and selling experience.”
PATS will be rolled out across national news brands early next year, and will be extended to regional newspapers. Newsworks is also in talks with the Professional Publishers Association (PPA) about magazine brands joining the system.