By Dade Hayes
As connected-TV ad spending continues to surge, the GroupM Ad Innovation Accelerator has launched as a cross-company program designed to bring about an evolution of the living-room ad experience.
GroupM, the media investment arm of WPP, says the initiative is “aimed at redefining engagement between advertisers and audiences.” BrightLine, Disney, KERV, NBCUniversal, Roku, Telly, and YouTube will join the accelerator at launch.
The cross-organizational group will focus its efforts on ad-supported streaming environments such
as Peacock, Telly, The Roku Channel and YouTube, among others. This program will initially roll out in North America for GroupM clients at Mindshare, Wavemaker and EssenceMediacom.
“We have to craft a future of our industry where engagement, innovation, and outcomes converge,” said Andrew Meaden, Global Head of Investment, GroupM, in a press release. “As we shape the next era of media where advertising works better for people, it is critical we continue to innovate new advertising experiences with our partners around the world to ensure brands are meeting audiences where they are.”
Marketers investing in streaming “have an incredible opportunity to engage with attentive consumers, but the rapidly evolving media landscape makes it difficult for advertisers to efficiently and resourcefully launch interactive advertising campaigns,” said Mike Fisher, Executive Director, Investment Innovation, GroupM U.S. Clients, he continued, “need a simple way to activate interoperable and attributable campaigns across the ad-supported streaming ecosystem. With key stakeholders at the same table, we will shape impactful outcomes that allow advertisers to execute creative, engaging and effective campaigns.”
GroupM’s 2024 industry forecast, issued in December, calls for connected-TV ad spending to rise almost 15% over 2023 levels, a significant step up from the prior-year growth rate of 9.4%. A number of new players have opened for business in the domestic streaming marketplace, including sector leaders Netflix and Disney. Amazon has also said Prime Video will begin showing ads during scripted programming this year. The Paris Olympics will also be a big draw on NBCU’s Peacock.
The accelerator’s working group will convene in early 2024, with CES next week in Las Vegas providing a backdrop for preliminary conversations. In an interview with Deadline, Fisher said the initiative coalesced around organic, shared objectives. “The goal now is to move from organic to rigor,” he said. “We’re not just planning to meet for dinner and talk. We have very specific things we’re aiming to accomplish.”
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