The ARF is using AI to summarize all 152 of Erwin Ephron’s newsletters and opining on how Erwin’s thoughts would relate to the media environment of today. Look for WOW! The Wit and Wisdom of Erwin Ephron, in mid-October. The following was contributed by ARF CRO Paul Donato, who describes this project in greater detail.
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Reimagining the measurement ecosystem has never been more important as consumers continue to diversify how and where they access content. In a wide-ranging discussion on the state of measurement, Advertising Age’s Jack Neff discussed the impact and opportunities of investing in a multi-currency future for media and marketers with leaders at Paramount, John Halley and Colleen Fahey Rush. Below are edited highlights of their discussion.
On June 7, 2023, attention economy experts came together in NYC to share case studies and participate in engaging discussions on the attention measurement landscape. Plus, attendees heard a recap of the issues debated at AUDIENCExSCIENCE and an update on Phase I of the ARF Attention Validation Initiative, an empirically based evaluation of the rapidly developing market for attention measurement and prediction.
Professor Anna Tuchman of Northwestern’s Kellogg School of Management presented an economic analysis of the effectiveness of a major portion of the U.S. linear television advertising spend, worth $66B in 2019. The study, conducted with Bradley Shapiro and Günter Hitsch of the University of Chicago’s Booth School of Business, investigated the elasticity of actual sales for 288 distinct CPG brands on the basis of brand-specific ad spend as captured by Nielsen store and household panels along with Nielsen Ad Intel data. They used log-log regression and flexible machine learning algorithms. Their goal is to help firms evaluate ad campaign effectiveness with the hope their measurement will help make better ad spend decisions.
This panel discussion closed out the first day of the conference, highlighting the anchor commentators’ key takeaways from the day’s sessions.
The last year-and-a-half has presented the media industry with a number of unique challenges when it comes to measuring how content is being consumed across platforms. In this one-on-one conversation, Comscore’s Bill Livek joins the ARF’s Scott McDonald to discuss how today’s viewership behaviors have signaled the need for a more modern cross-screen measurement approach and outline the fundamental changes necessary to effectively transact on media today and into the future.
The ARF’s second Virtual Town Hall, How is the Coronavirus Impacting the Global Advertising Industry?, focused on the recent coronavirus outbreak and how to best plan and recover from a recession market. Huge parts of the U.S. economy have shut down. From restaurants to gyms to hotel chains, workers are being hit hard as layoffs snowball daily. The advertising industry is feeling the shock as advertising budgets dry up due to postponed launches and canceled sporting, entertainment and business events.
This live panel featured the presenters from the New Methods to Validate Audience Estimates track, with moderator Megan Margraff of Oracle following up on key points involving alternate data currencies, data harmonization and normalization, fragmentation challenges and advanced targeting in TV and CPG.
Bob Ivins of TVSquared by Innovid, presented a discussion on the shift to cross-platform measurement in television viewing. In this presentation, the speaker examined the changes in consumer behavior in television viewership, challenges presented in metrics stemming from audience fragmentation, new platforms and new currencies in metrics. Additionally, the speaker gave key metric areas to consider in the era of converged TV.
The researchers reported on new insights from their on-going series of surveys on trends in consumer’s viewing behaviors with regard to ad-supported versus ad-free content.