Snowflake Ventures is an ad-tech consortium open AP

By | October 17, 2022

OpenAP was developed by traditional TV companies hoping to get their hands on a new ad technology that generates millions of advertising dollars and is now reaching outside their circle.

by NBCUniversal, Fox Corp., Paramount Global and Warner Bros. The Discovery-owned advertising conglomerate has made an investment from Snowflake Ventures, a company focused on cloud-based data and analytics. Snowflake will be the first company outside of the traditional TV business to have ownership in Open AP.

“This snowflake investment is really a testament to the fact that publishers know this is where the industry is going,” Open AP CEO David Levy said in an interview.

In the year Since its launch in 2017, it has been owned by the former WarnerMedia group Turner, the former Viacom Inc. and the former 21 Fox Networks Group.St At Century Fox, OpenAP seeks to facilitate the growing practice of “audience buying” among advertisers. By helping advertisers reach the same specific consumer segments regardless of which company’s inventory is being purchased, Open API allows marketers to create easily comparable metrics.

Creating those standards, however, would require disclosing all kinds of proprietary and proprietary consumer data, calling for so-called “clean rooms” that allow a company’s research to match data without oversight.

“All publishers are leaning forward and saying, ‘Hey, we need to invest in cleanroom technology that allows our data to be matched and moved without the data having to change hands,'” Levy said.

OpenAP expects Snowflake’s investment to accelerate development of the OpenAP Data Hub, launched in June 2022. That technology provides a “clean room” solution for the television industry and uses snowflake technology. The investment will be followed by the first data and services rollout of the OpenAP Data Hub in the fourth quarter of 2022.

“Since OpenAP’s launch, programmers have proven collaboration and partnership to be a powerful tool for transforming the entire television advertising industry. Now with this partnership and investment, cross-cloud data collaboration will accelerate the transformation,” said Bill Stratton, Snowflake’s head of media, entertainment and advertising.

Category: tv

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