SAN FRANCISCO, Tuesday, January 30, 2019 - VICE, BuzzFeed and Group Nine have joined forces with Tubular Labs, the world leader in social video analytics and sponsored video intelligence, to establish a new video marketplace initiative dubbed the Global Video Measurement Alliance (GVMA).
GVMA aims to solve the media industry’s long-standing struggles to agree on the most accurate and adequate solutions by which to measure value and engagement with video content for brand partners. Many existing solutions do not have access to holistic measurement of content that has been distributed across multiple platforms. Tubular makes for an ideal measurement partner in this regard, already measuring five billion videos from 13 million publishers, brands and creators, and 850,000 sponsored videos across platforms.
By working directly with Tubular and creating GVMA standards together, VICE, BuzzFeed, Group Nine and additional publishers can empower brands to more fairly evaluate the true global reach and engagement of online video publishers and measure the ROI of their campaigns vis-à-vis the broader market.
“For digital media in 2018, massive growth expectations came with massive pressure to deliver high CPM social video monetization. The content and audience are both there, but the right measurement is not,” said Allison Stern, Co-Founder and Chief Strategy Officer, Tubular Labs. “Without a standard for content measurement that proves to brands and agencies the true reach, engagement and effectiveness of any publisher or creator, digital media can’t succeed and traditional media can’t expand its digital investments. We’re excited to bring together this group and establish the Global Video Measurement Alliance to help solve this existential crisis in media and provide a trusted standard through which the future economics of digital media will take shape.”
The search for a universally accepted third-party metric solution has long been underway, and like many other media companies, VICE, BuzzFeed, and Group Nine Media had sought out a new global measurement solution for video content. After a year of research, these top digital publishers embraced Tubular and the GVMA initiative to create new global engagement scoring, providing advertisers with the opportunity to ultimately understand the actual monetary value of their branded content and online video spend.
Tubular, which was founded in 2012, is well-positioned to develop such a standard given its social video measurement and intelligence platform has the widest adoption of its kind by both advertisers and publishers. The company is focused on global solutions measuring audiences in every country and language in the world across digital channels. As media gets increasingly cross-platform, measurement must focus on engagement and meaningful views no matter where they occur. Brands need to understand reach and audience quality of what they’re buying if their level of investment is expected to continue and grow.
"Existing content measurement solutions do not adequately measure against the KPIs brands are interested in most. We all know the time spent engaging with content is proven to increase brand recall and lift but is still an afterthought,” said Josh Cogswell, President of Digital at VICE. “We look forward to Tubular Labs and GVMA helping advertisers better gauge our premium, high impact ad opportunities.”
As more publishers join GVMA, Tubular, VICE, BuzzFeed, and Group Nine Media expect that media agencies and brand partners also recognize the value in new global engagement measurement standards and join this impactful initiative to a long-standing issue in the industry.
“Uniform cross-platform measurement is crucial to establishing the video ad unit economics required for digital media to thrive, and all publishers should be aligned and pushing for consistent standards in 2019 and beyond,” said Edwin Wong, Senior Vice President of Research and Insights at BuzzFeed. “We are excited to join our fellow publishers and Tubular for their new initiative to grow the global measurement standards.”
"As audiences continue to shift to mobile, and digital video advertising continues to grow simultaneously, standardizing global measurement is crucial to the evolution of our industry," said Ashish Patel, Chief Insights Officer at Group Nine Media. "We're a data-conscious media company built on mobile video and so we're extremely excited to join forces with like-minded companies to better understand and serve audiences and brand partners around the world."
Interested in helping drive the initiative that will shift social video into a more dynamic and transparent economy of scale? Contact Tubular Labs to learn more about how to get involved.
About Tubular Labs
Tubular Labs is the leading global video measurement and analytics platform that powers broadcasters, publishers, and brands to understand what the world is watching. Tubular’s software measures 5B videos, 400M video consumers, 13M creators, 150K brands and 850K sponsored videos, generating insights for its customers to scale and monetize their audiences faster. 7 of the top 10 global media companies trust Tubular to power their digital video decisions. Behind every digital video decision, is Tubular. For more information, visit www.tubularlabs.com.