業界トレンド

Shady Markets Rob Publishers Of Value

February 29, 2016
著者:Brian Stempeck – チーフ・クライアント・オフィサー

AdExchanger.comより

If you’re selling your home, the asking price is driven largely by multiple listing service data all real estate agents subscribe to.

株を売っているのであれば、株式相場表示機は1回のクリックで表示できます。

But if you’re a publisher, you’re often in the dark when it comes to the value of your video content. If you partner with the wrong vendor, that’s where you’ll stay.

An Obvious Conflict Of Interest

A middleman representing both buyers and sellers has an obvious conflict of interest. Yet some publishers choose to overlook this conflict of interest and work with a combined demand-side platform (DSP)-supply-side platform (SSP), often citing the need to “lock in” a relationship with advertisers.

On a recent outing to look for a new home, I encountered a similar conflict of interest. Our agent showed my wife and me a home listed by the same company. Even before we set foot inside, we were asked to sign a waiver acknowledging the conflict of interest.

私は買い手として、その家に対するいかなる私たちのオファーも有利ではないかもしれないということを理解しました。また、すべての家が唯一無二であり、その特定の不動産を購入したい場合、売り手が決めた制約を遵守しなければならないということも分かりました。それを知った上でも私が署名したのは、そのエージェントが、会社の関係に関わらず、市場に残っている在庫物件を見せてくれることがわかったからです。

しかし、もし売り手のエージェントが、同じ会社を通した買い手しか入札できない、と言った場合はどうでしょうか?仲介業者にとっては都合の良い話ですが、売り手はその条件を飲まないでしょう。潜在的な買い手の数を制限することで、人為的に価格上限を設定することになるためです。しかし、パブリッシャーが関係を「固定」するためにDSPSSPを利用する時、まさに同じ事が起こっています。これは、バナーインベントリの場合は理に適っているかもしれません。供給が豊富で満稿への圧力があるため、排他的なデマンドサイドの関係が必要なのです。ただし、オンラインビデオは違います。

For one thing, programmatic plays a ubiquitous role in online video, so buyers and sellers have already established an open marketplace capable of shedding light on price, regardless of relationship. More importantly, quality online video inventory is scarce and demand is growing, which underscores the need for publishers to extract a market price that reflects that maximum number of bidders.

Why Publishers Overlook The Conflict Of Interest

Perhaps the most understandable reason for overlooking an obvious conflict of interest is the need to address reporting discrepancies. In theory, an all-in-one stack solves the very real problem of reporting discrepancies because the same tech on both sides of the deal should generate the cleanest data.

しかしパブリッシャーが従事するのは、最高額でインベントリを販売するビジネスであり、矛盾のないレポートを作成することではありません。この問題は適切なベンダーと協力し、責任を持たせることによっても解決できます。

When a publisher chooses reporting over price discovery, what they’re really saying is that they’ll take less money as long as they don’t have to fiddle too much with spreadsheets. That would be laughable in real estate and heresy on Wall Street, yet online publishers that tolerate dark markets call it the cost of doing business.

Bias In The Tech Can’t Be Overcome

Despite the obvious conflict of interest and dubious payoff of a DSP/SSP, many publishers insist that, somehow, the tech is neutral. It’s not.

The mission of a DSP is to help advertisers find the best audience match at the best price. Advertisers use DSPs because different targets have different values. If you’re Toyota, you’ll pay more to find a customer who has expressed a high level of purchase intent versus someone who only loosely matches the target audience. DSPs are designed to find those targets, assign preferences based on real-time market conditions and execute media buys that apply all relevant data.

An SSP has a very different mission. They are engineered to help publishers optimize the balance between maximizing CPMs and fill. By their very nature, SSPs challenge the preferences that are in the DNA of a DSP, because whereas the former strives to raise the price and sell out on inventory, the latter is selective on inventory and price-sensitive. It’s illogical to believe that an all-in-one solution could serve both masters because where those two powerful tools meet in opposition is precisely where the market price is discovered.

デマンドサイドがパブリッシャーを気にする理由

Advertisers need strong publishers with sustainable business models. If advertisers are trying to buy audience, they can’t get very far working with publishers that are struggling to produce quality content. More importantly, advertisers and publishers alike benefit from an open market where buyers have widespread access to inventory. A successful campaign isn’t the cheapest one – it’s the media buy that delivers the best inventory while maximizing the advertisers spend.

個々の取引でのデマンドサイドとパブリッシャーの利害は、一致しません。実際、互いに対立します。しかし、実際の価格と貴重なインベントリを覆い隠す不透明な市場を排除するという点では、双方の利害は一致しています。パブリッシャーのパートナーが、市場にいるバイヤーへの接触を阻害する場合、その関係には不透明な部分があります。

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