Premion partners with MadHive to advance OTT services and solutionsFriday, June 16th, 2017
Partnership addresses opportunities to increase transparency, brand safety and accountability
NEW YORK CITY, NY — Premion, a division of TEGNA (NYSE: TGNA), announced today a partnership with MadHive, a blockchain-based ad tech solutions provider. The partnership is in direct response to the growing fragmentation and lack of scalability in OTT advertising as well as the lack of transparency in the industry as a whole. By harnessing MadHive’s blockchain-powered solutions, Premion seeks to bring increased transparency and accountability to the opaque ad tech supply chain.
With over 100+ top-tier content providers and 700+ TEGNA Sales Reps, Premion is the one-stop-shop for OTT advertising for regional and local advertisers. Premion simplifies the OTT buying process by placing ads alongside premium long-form and live streaming content across branded networks and providers.
“We are experiencing strong momentum from advertisers who are turning to us to reach the fast growing and engaged OTT audience,” said Jim Wilson, president, Premion. “But for OTT advertising to truly scale, we need to educate advertisers and invest more in advanced capabilities to address industry concerns such as advanced TV struggles with frequency capping, difficulty buying at scale, and lack of consistent audience segmentation.
“Advertisers want unduplicated reach in brand safe environments and want it measured properly. Instead, they receive fraud and opaqueness for every dollar they spend. One of the characteristics of blockchain that makes it so unique is its ability to reward trust,” said Adam Helfgott, CEO, MadHive. “As the TV industry transitions, tech stacks and workflows are being re-evaluated. It’s the perfect environment to introduce a new protocol like blockchain and we’re excited to be working with Premion to deliver advanced OTT capabilities.”
“MadHive is pioneering the use of blockchain technology in ad tech and its targeting and decision layer will be used to streamline the process of matching supply and demand within our OTT network and elevate our brand-safe content,” added Wilson.
Premion and MadHive are founding members of the AdLedger consortium — a group of advertising and publishing executives who are aligned in their mission to bring transparency and data security to the ad tech supply chain by harnessing a blockchain backed peer-to-peer network.