NEW YORK—GroupM has launched the GroupM Ad Innovation Accelerator, a new working group that will work to enhance traditional advertising sports for streaming audiences.
The effort is particularly notable because it brings together a number of major streaming platforms and media companies. GroupM announced that BrightLine, Disney, KERV, NBCUniversal, Roku, Telly, and YouTube will join GroupM’s Ad Innovation Accelerator at launch.
The effort also reflects the rapid growth of CTV advertising at a time when TV ad revenue has been sluggish. GroupM is forecasting CTV advertising will increase 14.9% in North America in 2024, accelerating from 9.4% in 2023.
Members of the Accelerator will work on strategies and the creation of scalable ad formats for such ad-supported streaming environments such as Peacock, Telly, The Roku Channel and YouTube, among others.
This program will first roll out in North America for GroupM clients at Mindshare, Wavemaker and EssenceMediacom.
“We have to craft a future of our industry where engagement, innovation, and outcomes converge,” said Andrew Meaden, global head of investment, GroupM. “As we shape the next era of media where advertising works better for people, it is critical we continue to innovate new advertising experiences with our partners around the world to ensure brands are meeting audiences where they are. With more ad-supported options emerging, advertisers must respect audiences’ preferences and use cutting-edge technology to deliver more personalized content.”
Spearheaded by GroupM’s industry-leading investment team, the Ad Innovation Accelerator will aim to evolve the traditional 30-second ad spot by integrating advanced digital technologies that will enhance brand-to-viewer connections and drive measurable results for participating GroupM advertisers.
“Brands advertising in ad-supported streaming environments have an incredible opportunity to engage with attentive consumers, but the rapidly evolving media landscape makes it difficult for advertisers to efficiently and resourcefully launch interactive advertising campaigns,” said Mike Fisher, executive director, investment innovation, GroupM U.S. “Our clients need a simple way to activate interoperable and attributable campaigns across the ad-supported streaming ecosystem. With key stakeholders at the same table, we will shape impactful outcomes that allow advertisers to execute creative, engaging and effective campaigns.”
The newly formed working group will convene in early 2024. Partners of GroupM’s Ad Innovation Accelerator have mutually agreed to:
- Set recurring innovation sessions and quarterly meetings to establish goals and determine outputs for newly created advertising models and methods.
- Launch pilot programs in Q1 2024.
- Co-create advertising formats for agnostic use across the media ecosystem using test-and-learn findings.
- Analyze efficiency and efficacy of media campaigns using newly implemented standards and practices.
“Building on a legacy of setting industry benchmarks and driving responsible media investment, our program is rooted in shared discovery, proven success and forward-thinking. We’re encouraged by our partners’ collective commitments to impactful advertising and their leadership in advancing new ad formats, specifically for streaming video,” said Matt Sweeney, chief investment officer, GroupM U.S. “Uniting partners with varying objectives to streamline ad development will have a multitude of benefits for our advertisers, ultimately allowing for quick iteration and better interoperability across platforms. That’s a win-win for our industry.”
Working group members will closely collaborate with GroupM advertisers that express interest in testing new formats and processes. Benchmark testing will be finalized in early 2024 ahead of 2024-2025 Upfront planning.
GroupM’s Ad Innovation Accelerator will roll out to other markets throughout 2024, with the goal to develop and pilot new ad formats across existing and emerging channels.
GroupM said it is open to collaboration with other partners interested in working together to make the ecosystem of our industry more effective and impactful for advertisers. Companies interested in joining this program can contact adinnovationaccelerator@groupm.com.
