At a Coalition for Innovative Media Measurement summit Thursday, ad buyers, sellers, and measurement wonks found common ground on one thing: The industry is far from achieving its goal of modernizing the way TV advertising is bought and sold.
Take targeted TV advertising. It's been talked about for 25 years but it's still a minority of TV ad spending, with no universal agreement on things like how to count audiences and collect the data, said David Cohen, Magna's president of North America.
"Why hasn't it taken off?" Cohen said. "Because it's complicated, it's complex, everyone does it differently. It's a little bit of Wild West."
Turner, Fox, Viacom, and NBCUniversal belong to an industry consortium called Open A.P. that pools networks' data to help marketers match networks and time slots to audiences. The networks are pushing to change how they sell ads to buyers, but the process is slow, with only about 5% of advertisers' spend going toward audience-based buying.
Open A.P. is a great start but linear TV is at an advantage because it's still so efficient to buy, Cohen said. It doesn't require the hand-crafted approach that addressable does.