One year after it launched its TV by OpenX product, which aimed to clean up the biddable CTV market by removing resellers and unintentional inventory from its offering, OpenX has given an update.
“Since doing so, our publishers actually have increased their monetized impressions by 22%,” said Matt Sattel, Chief Revenue Officer, OpenX, in this video interview with Beet.TV. “So we’re able to monetize more impressions for publishers.”
Sattel was speaking ahead of appearing on a panel, Navigating Contextual Targeting — How to Level Up CTV Targeting Using Metadata, at Beet Retreat Santa Monica 2024, on Nov. 14.
Bringing New Buying Methodologies to CTV
In addition to its efforts around transparency, OpenX is also focused on bringing new buying methodologies to the CTV space. By ingesting first-party audiences and converting them into deal IDs, the company is enabling buyers to purchase CTV inventory in ways that they haven’t been able to do historically.
Biddable CTV Delivers Value to Brands and Publishers: OpenX’s Andy Hammond
“If we have clean, transparent, and trustworthy supply within the exchange, people do have the ability to buy CTV in a way that they haven’t historically done because of fear of buying unintentional inventory, showing up on a mobile app instead of on or on the big screen,” Sattel said.
“Paired with our access to that premium supply, plus our ability to ingest and target first party audiences, I think it is bringing a new buying methodology to buyers and bringing more monetization and incremental revenue for publishers.”
Standardizing Content Signals for Greater Transparency
Another area of innovation that OpenX is excited about is the standardization of content signals within CTV. According to Sattel, the company saw over 11 million variations of genre alone coming from publishers, which created huge problems for buyers looking for transparency and consistency in their purchases.
To address this issue, OpenX went through a major initiative to normalize these variations and create a standardized taxonomy of nine categories and 120 subcategories for targeting. “This is actually allowing the buy side to have a lot more transparency,” Sattel said.
In fact, OpenX saw an 11% increase in CPMs and a 609% increase in DSP bid rate when a content object was passed by a publisher. “We see content object as a huge way for publishers to monetize their supply more for buyers to be able to buy with transparency and confidence and DSPs to also be able to bid more heavily in CTV,” Sattel said.
