Agencies yet to shift to VOZ as a trading currency

Agencies yet to shift to VOZ as a trading currency

Ad agencies have welcomed VOZ tools for cross-media reach comparisons, but will not use it as a trading currency until it achieves gold standard certification, Mediaweek has reported.

Media agencies are “at least” 12 months from adopting VOZ Total TV audience reach metrics and will continue to trade and report TV ratings using total audience measurement (TAM).

While the media and networks will now exclusively report using VOZ Total TV audience reach, media agencies will continue to trade and report in TAM while also using VOZ and other metrics.

Paige Wheaton, head of investment at Initiative said there was a great opportunity for people to confuse total Reach with average audience Reach.

“It’s easy to see how a marketer could look at MAFS national reach of 2.5 million and think, ‘Oh my gosh, that’s massive; it used to be 1 million’. But we have to tell them, ‘No, it’s a different measurement and metric’. There’s an important job for us to educate clients and ensure they have access to the original reporting that we would typically provide to understand the difference because it can be confusing or misleading.”

“If you’re a client looking at last night’s MAFS episode, for example,” said Lucy Formosa Morgan, managing director of Magna. “For it to be relevant to them, they would have had to have had a spot in every single one, in terms of metro, regional and BVOD, and chances are they haven’t.”

Chris Androulidakis, the operations manager at PHD Australia said, “As a metric, it is a positive change that will enable cross-media reach comparisons, which is more relevant than audience numbers. Total National Reach will be used to report against, however figures won’t be comparable to what we are used to seeing and historic evaluations will be difficult. Available ratings reports will be very topline until the tools are fully operational with third-party suppliers.”

Senior media agency executives told Mediaweek that agencies would not switch to VOZ as a trading currency until it achieves gold standard certification, with Q4 2024 cited by agencies as the earliest this could happen.

You can read more here.