Magnite is partnering with connected TV platform tvScientific in a bid to attract performance marketers that typically rely on digital advertising to CTV.
The goal of the new partnership is combining Magnite's relationship with CTV publishers with tvScientific's focus on attribution, to give direct-to-consumer and other direct response brands a clearer path to advertising in CTV.
The companies say they want to attract the next wave of advertisers to CTV beyond traditional linear TV advertisers. “We’re talking about the potential of thousands of thousands of advertisers that have been focused mostly on social or work with walled gardens, but now can, in a tight, specific, performance-based way, get the exact same result with their dollars,” says Todd Randak, senior VP, strategy and partnerships at Magnite.
Making CTV advertising as efficient as digital has been a longstanding goal of the TV industry, and has attracted the efforts of traditional, linear TV and CTV advertisers. The attention reflects a shift in consumer trends to CTV and streaming services spurred by internet adoption rates and recently boosted by stay-at-home orders during the pandemic. However, the difficulties in measuring TV advertising performance make it a harder sell to advertisers accustomed to the more precise results offered by digital.
“If you look at the components of digital, whether it’s paid search or social, a marketer can see aside from setting up and executing their campaign, they can measure how much money they spent and what outcome, whether that’s website visits or app downloads or true return on ad spend,” says Jason Fairchild, co-founder and CEO of tvScientific. He says the partnership will fix that. “Now, we can really quickly—as in intraday—with much smaller budgets, understand what’s working and not and then optimize it for marketers.”
The companies say the partnership will focus on attracting performance marketers, for instance pay-per-click customers on search and social platforms like Facebook or Google.