The first supply-side programmatic platform “built by broadcasters for broadcasters” has been launched, courtesy of Cox Media Group-owned Videa.
Videa unveiled the new platform last week at the TVB Forward conference in New York.
The platform automates the buying and selling of full schedule, forward reserve, local broadcast television inventory, bringing data and analytics into the process.
“We are pleased to create new advertising possibilities for advertisers as part of their local spot TV campaigns, while making it easier to purchase local audiences at scale,” said Videa president Shereta Williams.
Videa was founded in January 2014 as a programming advertising solution that can work with any traffic system or demand-side buying platform.
It’s gotten the thumbs up from Starcom Mediavest Group. The ad buyer’s EVP/Local Director Kevin Gallagher says, “Having the ability to easily reach targeted audiences at scale locally, while having transparency into the buying process, has been an incredible asset to our team, given the expectations of marketers today. We are looking forward to leveraging the insights provided to drive results for our client campaigns.”
Videa currently has more than 200 signed stations and intends to start market cluster launches during the next three months. The company has relationships with such broadcast TV owner-operators as Graham Media Group, Gray, Hearst Television, Raycom, E.W. Scripps Company, TEGNA, and Nexstar.
Videa is also working with major buying agencies, including the aforementioned Starcom; Carat and its business unit, Amplifi; Empower MediaMarketing; and U.S. International Media.
“Today, the ability to leverage data to make more efficient buys has become the norm across most media channels,” said Amplifi US EVP Jennifer Hungerbuhler. “Automating the transactional elements of the media buying processes, coupled with data-enhanced buying solutions, is valuable for local TV buyers, as it brings more revenue to the local marketplace and enables them to compete in a more platform agnostic ecosystem. However, to be truly successful, there must be scalable inventory for purchase.”
As part of the launch, Videa’s broadcast inventory will also be available through Mediaocean’s Spectra and STRATA’s media buying platforms.