UM, the global media agency network of IPG Mediabrands, is launching an entirely new role—U.S. chief marketplace officer. Stacey Stewart, who is taking on the new position, was previously executive VP, managing partner and integrated investment. In this interview, Stewart outlines the logic behind the position and describes how she plans to drive greater media responsibility and marketplace equity, which Stewart says is “critical to the success of our industry.”
This conversation is lightly edited for length and clarity.
What is a chief marketplace officer?
We've had an investment team for a lot of years and it's been kind of status quo. We've evolved–we've obviously been more integrated, negotiating across different channels: TV, digital, print–but we're still largely negotiating within those channels. The “marketplace” is looking across channels. So if you think of the media landscape as how an audience consumes media, I think of the marketplace as to how I’d buy media and how you consume media and realizing that they are different. The marketplace is really looking at how you buy that media in this fragmented landscape.
What will be your responsibilities?
It's really looking across the media plan and finding ways to invest based on the totality of that media plan, versus looking within each channel. The media partners are not just selling one thing these days, we're dealing in a world where Google sells TV and NBC sells social and all media is becoming shoppable. So [the goal is to] look across a client’s media plan and come up with a marketplace investment strategy that addresses the complexities of the market across the channels rather than looking at one channel at a time.