The Background At the May Agency Summit, we heard: –Jack Klues suggest an Internet upfront –Sellers complain of Buyers not meeting T&C’s: treating Internet as ad hoc only –Buyers complain of difficulty of getting traditional budget holders to pay attention to Interactive
The Debate Continued In the months since, continual question debated in the Media: Should there be an Internet Upfront alongside the TV upfront? General outcry: Cloning the ugly auction that is the TV Upfronts is not the answer.
So we came up with a different concept To address the short closing/unlimited inventory perception To enable upfront buying without becoming an auction To attract offline buyers to Interactive To foster integration between offline and online plans
The iMediaMarketplace A two-day integration event in New York that brings Interactive into sync with the planning process of other media Held in Q4, the idea is to bring to the table inventory that supports the key planning triggers that drive offline planning –Special Events, like Olympics –Tie-ins –Seasonal –Search terms
The Rationale Nearly all brand advertisers and their agencies are driven in media planning and selection by fairly predictable events, such as product launches, brand building campaigns, national promotions or retail promotion support. Offline media plans, even those containing TV bought upfront, are usually laid out on a calendar year basis. That’s the way brands and retailers plan their promotions, and the way they budget for them. Most launch plans, as well as below the line promotions, need months of advance logistics Only about 20% of online inventory is predictable, so this will not become a scarcity auction Of the $200 billion spent below the line, interactive gets little consideration because it is so unpredictable
The Research Then we reached out to over 100 agency buyers and 100 advertisers, asking: –Is this a good idea? –Would you come? –Would your offline buyers come? –Will this improve the quality of online content by giving incentive and certainty to sellers?
The Results 94% said it was a good idea - what the industry needs Overwhelming majority - 78% - said they would come Nearly half said offline buyers would be interested 84% said this would improve online content quality Also got many e-mails saying an impartial, central event was key
Next Year in New York No argument with numbers like that Hence our announcement today: The first iMedia Marketplace 2004 will be held next year It’s Time to Bring Online In Line!
But first, a few questions: 1. Timing Over 74% said Q4/October was the right time. But should we do another Marketplace in Spring to align with TV?? –i.e. 2X per year: –Mid-May, then Mid-October 2004
2. Format 2 days in New York, mid-October Continuous presentation sessions in one section where major players describe their calendar and potential exclusive sponsorships etc Booth section where all sellers meet agency and client side and talk specific inventory, search term and other allocation in private Sellers come armed with precise package details for the whole year ahead Evening cocktail mingling
3. Virtual Marketplace iMedia will create an online mall/editorial calendar where Marketplace participants will get to list their available content and other plans and opportunities iMedia would market this as required reading for all offline and online planners What’s the best way to list the avails?
How else can we make this better? We’ll see you - and your offline peers - at the iMediaMarketplace!