Innovid on Tuesday launched its Harmony initiative to help optimize the advertising ecosystem for connected television. As part of the effort, the adtech company released Harmony Direct to help ensure that more advertiser dollars go to video publishers.
“We’re about to see a significant jump in the growth of CTV,” Zvika Netter, co-founder and chief executive of Innovid, said in this interview with Lisa Granatstein, editorial director of Beet.TV. “It’s a rare moment in time where we need to take action together with different partners in the industry.”
Agencies and publishers including Assembly, CMI Media Group, PMG and Roku are among the first customers to use Harmony Direct.
Innovid’s tests show that moving programmatic guaranteed spend to Harmony Direct led to an average 8% increase in working media for agencies. Publishers improved yield by as much as 15%, which includes average fill rates increasing from 90% to 100%. For the U.S. CTV market, this improvement may represent more than $1 billion in immediate savings for the ecosystem.
Innovid doesn’t buy, bid on or sell media. It also doesn’t run its own media channel or marketplace, giving it a way to help the ecosystem without conflict of interest.
