Business
Brand Metrics partners with XITE to develop world-first CTV measurement solution
Global Banking and Finance Review
Company
The partnership between the music video streaming service and the measurement company paves the way for greater success in measuring CTV campaigns
The partnership between the music video streaming service and the measurement company paves the way for greater success in measuring CTV campaigns
London, UK: 14th June, 2023: Global technology company Brand Metrics, which works with publishers to demonstrate the effectiveness of digital advertising, has developed a pioneering partnership with music video streaming service XITE to pioneer a world-first CTV measurement solution.
Brand Metrics will apply its measurement methodology to XITE’s CTV campaigns, to provide advertisers with evidence of campaign effectiveness. XITE is available on more than 100 million connected TVs, set-top boxes and OTT devices in North America and Europe. The company is experiencing significant growth in revenue from CTV advertising, reflecting the success and demand for their campaigns. However, measuring the impact of these campaigns has been a longstanding challenge.
A combination of factors, including the increase in Smart TV adoption and the growth of streaming services, have seen XITE enjoy spectacular expansion and this partnership is set to revolutionize how the industry measures CTV advertising. Until now, the fragmented nature of the CTV ecosystem has made it challenging to obtain comprehensive and standardised campaign metrics. Typically, only the largest CTV campaigns have the scale and budget to justify major measurement projects.
Already, advertisers have been able to measure their campaigns using XITE and Brand Metrics’ industry-leading new measurement methodology, with the results giving guidance around where to focus activity for future campaigns and which metrics they should be focusing on.
XITE Director of Advertising Technology Robby Kraai says: “As CTV continues its rapid growth as an advertising medium, measurement initiatives such as this one will become ever more important in adding a layer of accountability to the channel’s undoubted attractions to advertisers. Brand Metrics’ brand lift studies have already assisted XITE in overcoming the measurement challenges associated with CTV campaigns, by providing valuable insights into the impact of their advertising efforts on key brand metrics. Our team has gained an invaluable and far deeper understanding of the effectiveness of their CTV campaigns in driving brand-related outcomes. We plan to develop this partnership further in the months ahead.”
Brand Metrics CEO, Anders Lithner, adds: “Being able to measure CTV campaigns in a scalable and inexpensive way is an important step forward in a fast-growing part of the digital advertising industry. Our partnership with XITE focused initially on measuring the brand lift of single CTV campaigns. This is a much bigger step than may appear. Joining real data about campaign exposure with data about brand perceptions, without going to the laboratory setting of a research panel, is truly unique. Now that we have proven the method, this approach can easily be scaled across multiple campaigns for XITE and, more widely, offer exciting new measurement possibilities to CTV advertising.”
Indeed, the ambition of XITE and Brand Metrics is to enable CTV campaign measurement at scale, as they continue to work closely together to optimize the approach; making the most of opportunities to evolve the process in terms of data capture, retargeting efficiency, survey design, survey interactivity and overall response rates.
Brand Metrics works with many of the world’s leading publishers including New York Times, The Guardian, Bloomberg, Financial Times and Newscorp; helping them to measure brand lift across their digital campaigns. It is empowering a growing number of publishers and agencies to gather independent data on their digital ad campaigns and enabling them to measure uplift in awareness, consideration, preference and action intent, in a simple, cost-effective and comparable way.
Press Contact:
Maryum Sheikh, Press Lead at The Digital Voice
press@thedigitalvoice.co.uk
About XITE:
XITE is dedicated to building the best music video experience in the world. Based in Amsterdam, XITE now reaches 100 million households across multiple territories through linear networks, interactive TV apps and on-demand streaming services. The company revolutionized the way audiences experience music videos by allowing viewers to search, like and skip through its entire catalog, enjoy channels curated by its team of music experts and create their own channel based on a genre, decade, style or mood using its unique Mixer feature. XITE has a full music video catalog through agreements with all major and top independent music labels and distributors, and works to expand this offering every day.
About Brand Metrics:
Brand Metrics has evolved from a Swedish-based research company into a global ad tech business, transforming how media owners deliver brand measurement to their advertisers to grow their revenues. Simple and powerful, our survey-based SaaS platform calculates brand lift for even the smallest campaigns, across four key metrics: awareness, consideration, brand preference and action intent and compares these scores against our global benchmarks, allowing full comparability from campaign to campaign. Our industry-leading technology is integrated with more than 800 websites, including some of the world’s leading publishers, helping them answer the fundamental question, “Did my campaign work?”.
Connected TV (CTV) refers to televisions that are connected to the internet, allowing users to stream digital content and access applications beyond traditional cable or satellite services.
Brand lift measures the change in consumer perception and awareness of a brand after exposure to advertising campaigns, helping advertisers understand the effectiveness of their marketing efforts.
Digital advertising involves promoting products or services through online platforms, utilizing various formats such as display ads, social media ads, and search engine marketing to reach target audiences.
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