ATLANTA--(EON: Enhanced Online News)--Videa, an innovative platform that automates the buying and selling of local television advertising inventory, today announced several major milestones that signal its continued growth and adoption among local TV station groups and media buying agencies.
“We’ve seen tremendous interest since the launch of our platform last September,” stated Shereta Williams, president of Videa. “Today, we’re announcing that more than 100 additional TV stations have gone live with Videa, which gives them the ability to automate how they sell their full schedule, forward-reserve advertising inventory to make it easier for media buying groups to place orders more efficiently and with greater transparency and scale. Platform adoption continues to exceed our expectations. We are already seeing greater than 40% share of participating agencies advertising spend being transacted on the Videa platform in markets where we have a majority of stations live.”
Forrester principal analyst Jim Nail writes: “Television’s place in the marketing plan, entrenched business processes, and legacy infrastructure present different problems that technology can, indeed, address: improving planning speed, refining audience-delivery efficiency, and automating back-office processes. Rather than cloning digital processes for the television advertising ecosystem, new platforms will improve planning speed and effectiveness while staying within the structure of commercial breaks and 30-second spots.”1 This is just one of the reasons Videa’s platform has generated such tremendous interest in such a short time. In addition, BIA Kelsey recently projected that programmatic local TV may double or triple over the next several years, referencing Videa as a company that will be largely responsible for that growth.
Key milestones include:
- Videa’s platform has scaled rapidly with coverage across 44 markets in 27 states with more than 100 stations and affiliates. A new map and listing showing each of the stations -- sortable by market, state or station call letters -- is newly available on Videa’s website at http://www.videa.tv/resources/markets/.
- Videa’s inventory reach, due to its full schedule availability in both GRPs and impressions, is significantly higher than competitive platforms that offer mostly remnant inventory through real-time bidding and other formats. Available inventory in the Videa platform averages ~90% household reach across the 44 markets and 43.8M households currently available in the platform, compared to the inherently smaller in-market reach of other platforms.
- Key station groups now include Graham Media Group, Gray Television, Griffin Communications Media, Hearst Television, Morgan Murphy Media, Raycom, E.W. Scripps Company, TEGNA, Block Communications Inc., Cox Media Group and WPLG, Inc. (a Berkshire Hathaway Company).
Videa’s rapid adoption demonstrates the value that an automated, data-driven platform can bring to local television stations to help them be more competitive in a complex market.
Videa is the leading programmatic TV marketplace that is pioneering the way full schedule, local television advertising spots are bought and sold. Through its supply-side platform, Videa provides buyers with direct access to broadcast station advertising inventory, enabling advertisers, agencies and marketers to purchase media buys – within seconds and up to a year in advance. Videa can work with any traffic system or demand-side buying platform, aligning with the unique needs of each TV station’s sales strategy. Owned by Cox Media Group, Videa was founded in January 2014. The company is headquartered in Atlanta, GA. For more information about Videa, visit videa.tv.
¹ “Brief: TV Planning Goes Data-Driven And Audience-Based,” Forrester Research, Inc., September 21, 2016