Jelli's cloud-based technology will power a new programmatic and automated ad-buying platform for radio stations, according to an announcement made by iHeartMedia this morning. What this means is iHeartMedia will now be able to offer ad inventory from its 850 stations to advertisers and agencies who know how to use programmatic and automated technology. This will include a private marketplace and exchanges that iHeart says "improves the buying process and reduces administrative hurdles and delays."
iHeartMedia CEO Bob Pittman said, "Programmatic is already an important and expected method of ad buying in the digital space. Now we can bring broadcast radio into that world at a scale no digital audio provider can offer. This new tool will give our sales groups the ability to more deeply partner with an advertiser and bring the best resources, unprecedented accountability, and speed ? allowing us to provide much better service and performance to every client."
iHeartMedia says this new programmatic platform will allow the company to apply its data and insights to the planning process and will utilize data sets to enable unique forms of targeting, such as music-based psychographic groups, weather and traffic patterns, purchase behavior and other environmental, population, and consumer trends.
"The ability to deliver the right message to the right person at the right moment is the holy grail of advertising, and we are just beginning to deliver on that promise across devices," said David Cohen, chief investment officer of UM. "This announcement is a watershed moment in the radio industry. Activating music-based psychographic groups, automatically triggering campaigns using weather and traffic patterns, purchase behavior and other environmental, population and consumer trends is something that we cannot wait to put in market."
Katz Media Group is also launching Expressway from Katz, a programmatic buying ad exchange. Katz Media Group President Mark Rosenthal says Expressway from Katz will deliver the capabilities and speed of automation and programmatic to radio, providing advertisers unprecedented scale and customer knowledge. "It will give the entire radio industry an additional way to sell, putting this industry ahead of even the newest digital companies.?
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