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Videa Announces Platform Launch

September 29th, 2016   ||    by Callie Wheeler

Videa has launched its supply-side programmatic platform—an answer to the changes currently sweeping today’s television industry. What started as an internal efficiency project at CoxReps morphed into an entirely new business model, championing optimization and automation in the buying and selling process of local broadcast television spots.

A Need for Change

For over fifty years, advertisers and sellers have been doing business the same way, with only minor improvements to efficiency arriving in the form of email. On the whole, the formula has stayed the same: Agencies request information from media reps, who then request information from individual stations. The back-and-forth continues as inventory is estimated, prices are negotiated, and budgets are applied.

The process is manual and time-consuming, and there have been points of failure along the way. But these disadvantages weren’t enough to create change. Instead, today’s shift in the marketplace was prompted by buyers’ and sellers’ number one priority: consumers. As consumers’ content consumption shifted from one news outlet, a couple of radio stations, and a newspaper to hundreds of viewing channels and thousands of websites, audiences became fragmented. Essentially, buying one or two media outlets isn’t an effective way to reach audiences anymore.

An Automated Solution

A solution built by broadcasters, for broadcasters, Videa’s platform marries the audience targeting and optimization delivered by data with the understanding that people matter and ultimately make the difference in winning the sales process.

The private marketplace model will give sellers access to data and automation, while allowing sellers and buyers to retain their own strategies and controls. While the company is starting with spot television because of its roots in broadcast, they also understand the broader goal of reaching audiences across many mediums.

Looking Forward to the Future

Videa is building a bridge from the way TV business is done today to the way it will be done in the future. With convergence between digital and TV already happening—video is video, regardless of the screen.

“We see ourselves as helping the industry move toward true omnichannel marketing. The holy grail for both advertisers and publishers is to buy and sell audiences across all of their touchpoints, to connect the right message to the right person at the right time, and that’s the mission of Videa,” said Shereta Williams, President.

Click here to view Videa’s launch video!

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