Consumer privacy issues and the relative value they perceive from media and advertising are a “carpe diem” (“seize the day”) moment for the advertising industry.
Thast is according to one agency exec speaking amid the discussion at the Cannes Lions ad industry gathering.
“With ITP and ITP 2.0 (Intelligent Tracking Prevention), I think we’re seeing clients really starting to take this much more seriously,” says Erin Matts, the new US CEO of Omnicom’s Hearts & Science agency.
“Google and Apple are taking two different routes of this. One is being very restrictive, while Google is actually giving consumers a choice, which seems to be a much more sort of forward-thinking kind of approach to this that still allows for advertisers to take part in some tracking capabilities there, too.
“It’s (about) that value exchange between the publisher, the platform, and the consumer that is respectful of the consumer, allows them have that choice.”
Over the last year, industry discussion has focused on the two main revenue models being used in media today – advertising and payments.
Apple has taken web services companies to task for funding themselves with ads, whilst some of those companies protest increasingly high device charges levied by Apple.
But some services companies employ a freemium model, and Matts thinks that puts consumers in charge of the use of their personal data by digital services.
“I mean, it’s similar to what Hulu has done and what Spotify has done,” she says. “If you have a free model or a premium model, that’s a choice that consumers have. I think that, to me, will be part of the key in making sure that advertising is viable after all of these major changes come about.”
Matts recently moved to be the CEO of Omnicom’s data-driven agency Hearts & Science after being North America CEO of Annalect, OMG’s data and analytics division.
In this interview with Beet.TV, she also discussed the challenges presented by brands in-housing their traditional agency functions.
You are watching Beet.TV coverage of Cannes Lions 2019. For all of our Cannes coverage, please visit this page. Thank you to our sponsors of our coverage, which are Amobee, Innovid, Nielsen, RTL AdConnect and Teads. Special thanks to Hearts & Science for hosting Beet.TV for the Festival.
