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A Madison Avenue task force has officially announced plans for testing an electronic media marketplace where users can buy and sell TV ads.
The task force, a coalition of advertisers and agencies, confirmed that eBay will provide the technical framework for the “e-Media Exchange” which will launch in early 2007, reports MediaPost (via MarketingVOX).
The group has launched a new website, which for now serves mainly to register potential participants, and to keep them and others informed of news of the project,.
Toyota’s Lexus and Wal-Mart have confirmed their participation, and sources identified other participants as Brown-Forman, Home Depot, Intel, Hewlett-Packard and Microsoft, Mediaweek reports. Those companies will initially spend about $50 million combined to purchase ads on the exchange, according to sources. More marketers are expected to join in short order as word of the project spreads, with total spending ultimately topping $100 million.
Agency participants include Interpublic Group’s Magna Global, Omnicom Group’s PHD, Aegis Group’s Carat and Publicis Groupe’s ZenithOptimedia.
Not every advertiser is behind the eMedia test, the Wall Street Journal reports. Companies that buy hundreds of millions of dollars a year in ad time are very happy with the leverage their size provides.
Top agency execs are trying to convince media sellers, particularly TV networks, that the system will not commoditize their ad inventories. “The pilot will be an adjunct to the existing media buying system, not a replacement for the upfront market,” according to the coalition’s statement. In particular, Mediaweek reports that the exchange is positioned as an alternative to the scatter market.
The major broadcast networks are not participating, but the group has had preliminary talks with Discovery Networks, and plans to talk to others in coming weeks, according to WSJ.
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