Nielsen is backing off a plan in the works for years to end trading on average commercial minutes (ACM)—the long used C3 and an C7 currencies—by next year.

The news is creating confusion, but also fulfilling predictions from some that Nielsen’s new currency wouldn’t be ready in time. 

A Nielsen spokesperson declined to comment on the situation. 

The end result is the industry could trade on three flavors of Nielsen currency in next year’s upfront, creating what some predict could be a struggle among sellers and buyers trying to steer deals toward the currencies that treat them best.

A person inside Nielsen said the plan is to put forth ACM (C3 and C7) measures based on big data plus panel as the endorsed currency for the 24-25 upfront. ICM based on big data plus panel would also be available for buyers and sellers if they choose. And legacy panel-only ACM data would be utilized for comparison and analytics.

But the person acknowledged that things could change and panel-only ACM data might still end up being the currency of choice next year, as it was this year. “Ultimately the market decides what currency deals are transacted on,” this person said.

Nielsen’s stated plan for years was to transition by September 2024 to trading on individual commercial minutes (ICM) rather than on measures based on average viewership of an entire program, and to make that transition using big data sets such as from cable set-top boxes and smart TVs. In recent days, however, the company has told people on the buy and sell sides that it won’t sunset measures of C3 and C7 ratings from its panel of 41,000 U.S. households, the service for which Nielsen has Media Rating Council accreditation.

Technically, however, Nielsen may be able to claim it met the deadline set years ago, since it is enabling trading on ICM using big data plus panel. It’s just that legacy measures and methods will remain, and the market is likely to stick with them if they do. Nielsen made a similar pivot back to its legacy panel ratings last April after having its Media Rating Council accreditation for that data restored.

“I don’t think the industry is really ready for it,” said one person familiar with Nielsen’s move to ICM using big data. Most likely, the industry won’t be ready for it until the 2025-26 upfront, this person said, as it digests changes in the data and gives the can one more kick down the road.

MRC accreditation of Nielsen’s big data plus panel measurement could be critical to making any real change this year, and the jury is decidedly out on that question, according to people familiar with the matter. The MRC didn’t take a vote following consideration by members of an audit of the new system on Oct. 4 as the company works to address issues raised, according to an MRC spokesman.

There isn’t currently another meeting set to consider the accreditation, and several compliance issues identified to address, according to another person familiar with the matter. And Nielsen isn't set to report the impact of adding a large number of additional homes to its data set from Comcast set-top box households until Jan. 30, according to people familiar with the matter, one of whom described the big data product as “under construction.”

“I believe we all knew they were going to do this,” said another person familiar with the matter of preserving legacy ratings. “Nielsen has not given the networks enough time or look back with the ICM data they’ve produced to really prepare well,” this person said. Agencies also have yet to get adequate data to prepare in Nielsen’s own NMI planning tool, which still only offers legacy panel and panel plus big data C3 and C7, not ICM data, this person said.

“I think the best part of the messaging has been the pretense that ICM is ready to go if you wish, but, practically, it really won’t be ready to go until mid-to-late next year," the agency executive said. "The nuance is that there will be more impression inflation in ICM, so without the ability to compare the two plans (ACM vs. ICM) we can’t negotiate the correct CPM reduction going into the broadcast year, and everyone will have no incentive to transact whatsoever.”

Another person on the sell side predicted that buyers and sellers may end up haggling over preferences among three Nielsen currencies alone, depending on which provides the best deals for each party, with even more options given the availability of rival company currencies from Comscore, iSpot.tv and VideoAmp.