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Industry Collaborative to Set Standards for Next Generation Online Video Advertising Formats, Strategies and Pricing Models
Cambridge, MA (October 15, 2007) - Maven Networks, a leading Internet TV platform company, along with several titans of the advertising, media and technology worlds, today announced the formation of the Internet TV Advertising Forum, an industry collaboration founded by Maven Networks to define next-generation online video advertising standards. Inaugural members of the Forum include Fox News Digital, Scripps Network, Ogilvy, Digitas, TV Guide, 4Kids TV, Microsoft Corp., DoubleClick and 24/7 Real Media. The industry collaborative was established to help solve the challenges and deficiencies associated with current online video advertising models. The goal of the Forum is to develop and standardize effective online video advertising solutions that create engaging and appealing user experiences as well as innovative and scalable monetization opportunities. To accomplish this, Forum members will leverage comprehensive research, development and usability testing of new ad formats and technology capabilities to address the challenges associated with launching successful Internet TV advertising campaigns. Maven today also announced the launch of the Maven Internet TV Advertising Platform which will serve as the group's online video advertising format foundation [see separate release]. This breakthrough technology platform features cutting-edge new ad formats, a dynamic and intelligent ad insertion engine, and sophisticated inventory management and forecasting tools. The combined power of the platform's feature set will help enable media publishers to unlock new ad inventory and exponentially increase ad revenues. With Forum members' insights, Maven will leverage the input of major industry players to create a universally-supported, third party ad server-compatible online video advertising platform. "Online video advertising has so much potential yet it is not where it needs to be today," said Hilmi Ozguc, Founder and CEO of Maven. "And, no single segment of the community has been able to successfully overcome the challenges posed by pre-roll video ads, the current dominant format. Rather than build a proprietary solution in a vacuum, we wanted to bring together key members of each industry segment contributing to and benefiting from online video advertising to develop a comprehensive and effective outcome that works for all media companies, advertisers and consumers." The Internet TV Advertising Forum will meet regularly to complete several projects ranging from an in-depth research project designed to identify and test various new video ad formats to the development of technical capabilities that meet the individual needs of each market segment participating in the collaboration. The results of this research project will be made public by the end of 2007. "We are seeing incredible pent-up demand for online video advertising, not just the pre-roll model, but also for a new, more effective model," said Jeff Meyer, SVP of Interactive Sales for Scripps Networks. "Scripps Networks has taken a lead role in innovating advertising online and on-air, and the Forum collaboration will instantly provide a more deeply engaging consumer and advertiser experience across all of our category-leading online lifestyle properties." About Maven Networks Maven Networks (www.maven.net) is powering the Internet TV revolution. As a critical technology partner, Maven enables professional media companies to quickly and easily create, distribute and profit from direct-to-consumer Internet TV channels and networks. The Maven Internet TV Platform is used by industry-leading organizations around the globe such as CBS's CSTV, The Financial Times, Fox News, Hearst, SONY BMG, Sony Pictures Television, and TV Guide.
MAVEN NETWORKS
Editorial Contact:
Kristen Fergason
617-806-8283
kfergason@maven.net
