Pandora has revealed a new e-business advertising technology solution that it claims will allow for frictionless planning and buying for media buyers.
The new platform integrates media buying software platforms, Mediaocean and STRATA, with proprietary software built by Pandora’s engineering team in conjunction with the internet radio service’s ad operations and billing teams.
According to a statement from the company, the move makes Pandora the ‘first and only digital publisher to integrate the planning, buying and billing phases of the buying process of digital advertising.’
The advancement brings the audience insights of Pandora’s active listeners to life for the media-buying community.
John Trimble, chief revenue officer at Pandora says, “The proprietary engineering solution marks an important step for what has been a largely manual process for the digital advertising industry, as it automates the transactional process between media buyers and digital publishers.”
“With this new solution, we are combining the ease of buying traditional radio with the accountability of digital by enabling a more seamless, end-to-end platform from planning through the final billing transaction,” Trimble comments.
The new platform marks the final stage of Pandora’s plans to fully integrate into media buying platforms. The first step, announced in May 2012, was the launch of Triton Digital’s measurement of Pandora in traditional radio metrics such as AQH and Cume. The second phase, announced in March 2013, integrated Pandora audience data via Triton ratings into the Mediaocean and STRATA media buying platforms. This final stage offers the full-cycle solution from planning to buying to billing for multi-platform audio campaigns on Pandora.
Steve Sullivan, vice president Advertising Technology at the Interactive Advertising Bureau (IAB) says: “The manual process of handling business documents contributes dramatically to the 14 percent operational cost of executing a digital marketing campaign. In comparison, the operational cost of executing a broadcast ad campaign sits at around 2.5 percent.
He adds: “One major goal of the IAB is to improve operational efficiency through the electronic transfer of digital advertising business documents. We applaud Pandora for being the first digital publisher to go to market with this solution. This move will demonstrate the value of a common e-Business standard for the entire campaign planning and execution process across the interactive industry."
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March 19, 2014