Innovid, an independent software platform for the creation, delivery, measurement, and optimization of advertising across connected TV (CTV), linear, and digital, announced that LG Ad Solutions is the latest industry leader to join its Harmony initiative to optimize advertising at the infrastructure level.
Earlier this year, Innovid launched Harmony to bring together industry leaders to work collaboratively to improve efficiency and ROI, enhance transparency and control, reduce carbon emissions, and provide better viewing experiences for consumers across CTV and digital. As part of the initiative, Harmony Direct streamlines the workflow for guaranteed, non-biddable CTV media to its purest form by removing all friction points, including additional technology hops, fees, and energy waste. LG Ad Solutions joins Assembly, CMI Media Group, Goodway Group, PMG, Roku, and Vizio as partners using Harmony Direct.
PMG, an early agency adopter, is now rolling out Harmony Direct across its portfolio of clients. After leveraging it for local campaigns for multiple QSRs and a national restaurant chain, PMG realized major efficiencies with programmatic buys, including an increase in working media dollars.
Harmony Direct launch partners saw an average 8% increase in working media for agency partners. Publisher partners improved yield by up to 15%, which included average fill rates increasing from 90% to 100%. In 2024, across the total U.S. CTV market, this could represent more than $1 billion in immediate savings going back into the ecosystem.
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“For our clients, we are always looking for the most direct path to a publisher – and removing unnecessary friction points is a win-win for both the buy- and sell-sides,” said Mike Treon, Video & CTV Strategy Lead, PMG. “Programmatic guaranteed deals are riddled with wasted spend and lost impressions. We leaned into working with Innovid’s Harmony Direct because, as an industry, we have to remove inefficiencies to realize the true power of CTV as an advertising channel. Results from our initial campaigns made expanding our use of Harmony Direct across our client base a natural next step.”
Released in July, the initiative’s latest product innovation, Harmony Frequency, is the first holistic frequency management solution for CTV and digital advertising. Currently in closed beta, the solution provides DSPs with frequency intelligence across a brand’s entire media portfolio before they bid – reducing ad waste, strengthening campaign effectiveness, and improving the viewing experience.
Innovid’s Harmony initiative recently won the AdExchanger Award for “Most Innovative TV Advertising Technology,” due to its mission to “keep TV open for everyone and controlled by no one – optimizing the CTV advertising ecosystem by avoiding the pitfalls of digital advertising’s past.”
“Since we launched Harmony in April, the industry-wide support for it has been inspiring,” said Zvika Netter, CEO & Founder, Innovid. “Advertising leaders across the buy- and sell-sides know that to create a CTV ecosystem that benefits all – and most importantly, the viewer – the time to act is now. I’ve never felt more optimistic about the future of advertising.”
SOURCE: Businesswire