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The Joint Industry Committee (JIC)—formed earlier this year by OpenAP, along with a working committee of media agencies, premium video programmers, streaming platforms and trade bodies—has taken a significant step forward in the journey to multiple currencies.
Today, the assembly announced it has given conditional certification to Comscore, iSpot and VideoAmp as part of its ongoing currency certification efforts, with full certification expected to be awarded in early 2024.
In June, the JIC publicly released its scoring rubric, which listed minimum requirements in the following categories for any cross-platform currency to be transactional:
- Big data
- Technology and infrastructure
- Interoperability
- Privacy
- Transparency
- Governance and transaction flexibility
- Cross-media transparency
- Media integrations and stewardship
- Cross-platform measurement
Following a request for information (RFI), the organization evaluated participating companies, and a full vote was approved on Aug. 24.
Comscore, iSpot and VideoAmp will now move into the data evaluation stage, and currency certification status will be granted on a two-year term.
“We applaud the efforts of all companies who leaned in with the JIC’s currency certification efforts and participated in the RFI stage. Throughout the process thus far, it is clear that while there is still work to be done, we are moving closer to having more currencies that are commercially ready for scalable transactions across both buyers and sellers,” the JIC said in a statement.
“We look forward to continuing to work with the companies in both the next stage of the currency data evaluation process, as well as with those who will be partnering on measurement certification next year, as we thoughtfully and collaboratively work toward ushering the industry toward a modern measurement and currency ecosystem.”
The JIC also plans to launch a new TV measurement certification track in 2024, which it says will bring additional standards and enable further innovation in cross-platform measurement solutions.
Keeping currency current
The state of currency has been in flux since the Media Rating Council stripped Nielsen of its accreditation for national and local TV measurement in 2021. Nielsen later announced it would replace C3, TV’s standard metric for commercial measurement, by fall 2024, meaning that all currencies on the market (including Nielsen’s latest offering, Nielsen One) would be new.