You are here
NEW YORK -- The Nielsen Co., parent company to Convenience Store News officially launched a new syndicated reporting service for out-of-home video networks, Mediaweek reported.
The monthly service, called Nielsen On Location Media, has signed several clients including Ideacast, Gas Station TV, The Hotel Networks, Arena Media Networks, Buzztime and OnSpot, according to the report.
The reports are paid for by the out of home video networks and will be delivered to Nielsen agency clients free of charge.
Out of home video networks bring in $1.3 billion in advertising, the report stated, citing PQ Media. The On Location Media service provides standardized metrics needed for advertisers and agencies to properly value the medium and justify a more significant share of advertising budgets, Mediaweek reported.
"Everyone in the business has the data, and it means that agencies are in a spot where they have to take a position on it. It creates a whole new ballgame," said Paul Lindstrom, senior vice president of Nielsen On Location Media.
To develop the service, Nielsen consulted with agencies and advertisers, out of home video networks and the Out of Home Video Advertising Bureau (OVAB), which developed audience metrics guidelines for measuring the medium.
"It is important for the networks and their research providers to follow these guidelines so we are pleased that one of the most recognized brands in media measurement is providing a solution that is intended to be consistent with them," said Suzanne Alecia, president of OVAB.