Historic 2020 event sets the table for a unified video marketplace
Interactive Advertising Bureau (IAB), the national trade association for the digital media and marketing industries, announced today that the 2021 IAB NewFronts will provide buyers and sellers a holistic video marketplace inclusive of video across every screen.
“Buyers could not have been more clear coming out of the 2020 NewFronts: they want to move the video marketplaces closer together to make it easier to buy. As the definitive marketplace for digital video, we are committed to facilitating the buying process, and will expand the NewFronts so that all participants can come together if they choose,” said David Cohen, CEO, IAB. “Our goal is to provide buyers with access to the best content, technology, and insights the industry has to offer.”
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The 2021 IAB NewFronts will be held the week of May 3, 2021. Digital, streaming, and linear video creators/publishers are invited to participate. The event, which drew more than 14,000 brands and media buyers last year, will be live-streamed for buy-side attendees.
“Streaming is the future, and the future is now,” said Cohen. “Consumers make no distinction between different forms of video, and there is an urgent need to not only recognize this reality, but also re-organize our industry to support it. This includes everything from cross-platform frequency management, to measurement and attribution, as well as holistic planning, buying, and selling.”
“A unified 2021 IAB NewFronts gives us exactly what we need,” said Matthew Sweeney, Chief Investment Officer, Group M U.S. “A single marketplace that spans web video, connected TV, ad supported video on demand, free ad supported streaming TV, as well as traditional cable, linear, and satellite gives us a clear view of the entire video opportunity.”
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2021’s IAB NewFronts will take place in context of IAB’s cross-industry video initiative, which aims to modernize how video is bought and sold around a consistent set of principles, standards, practices, and–where applicable–products and technologies.
“Buyers are tired of incompatible measurement structures, differing currencies, technological complexities and the intricate negotiation that inevitably follows,” said Cohen. “We’re confident that the next year or two will see major advancements in how video is bought and sold, and how the industry measures outcomes. There’s a lot of work ahead, but the time is now and having a more unified marketplace is a step in the right direction.”
IAB is also shifting its audio marketplace, IAB Podcast Upfront, to take place the following week, May 10, 2021, to enable marketers to evaluate their omni-channel investments in an increasingly holistic way.
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