One of Meredith Local’s main video strategies is creating more short-form videos that work for social platforms.
Meredith sees these snackable clips as an opportunity to pull audiences further into its video content, where it may serve a 30-second pre-roll against targeted content.
When the company first brought its programmatic inventory in house, it needed to set floors and figure out how to optimize its breadth of inventory.
Thus, monetizing via the open exchange was important initially just to get its name out there and to give the advertisers a feel for its flavor of inventory.
As Meredith Local’s in-house initiative progressed and it gathered data to prove out engagement rates and conversion levels, more advertisers have requested PMP deals, which helps drive premium rates. Meredith Local uses SpotX to set up its PMPs.
SpotX’s curated marketplaces let advertisers buy audiences across multiple pubs based on common categories/attributes (“politics”) or parameters (“viewability”), said Ben Abbatiello, VP of strategic accounts for SpotX.
Using SpotX, Meredith Local has improved its targeting, Lewis added, “which means we’re more equipped to accommodate advertisers’ KPIs and that’s generated a great engagement rate on our pre-roll.”
In late April, Meredith Local Media Group reported digital advertising was up 15% in the third quarter of FY 2016 due to its digital growth strategies. Total revenue also grew 15% to $141 million.