LG Ad Solutions Joins Forces with Innovid's Harmony Project
Innovid, a leading software platform for Connected TV (CTV), linear, and digital advertising, has announced that LG Ad Solutions has joined its Harmony initiative. This industry-wide initiative aims to create a more efficient, transparent, and environmentally friendly CTV advertising ecosystem.
The Harmony initiative brings together companies like Innovid, TV network partners, and advertising agencies. Through Harmony Direct, it has achieved enhanced automated ad delivery and improved measurement accuracy in CTV advertising.
LG Ad Solutions has joined the Harmony initiative to improve the efficiency and return on investment, enhance transparency and control, reduce carbon emissions, and provide better viewing experiences for consumers across CTV and digital.
PMG, an early adopter of Innovid's Harmony Direct, is now expanding its use across its client portfolio. PMG found major efficiencies with programmatic buys using Harmony Direct, including an increase in working media dollars.
Publishers have also seen improvements using Harmony Direct. On average, fill rates have increased from 90% to 100%, and some partners have improved yield by up to 15%.
Harmony Direct is a streamlined workflow for guaranteed, non-biddable CTV media, designed to remove friction points, including additional technology hops, fees, and energy waste. The launch of Harmony Direct partners saw an average 8% increase in working media for agency partners.
Innovid's Harmony Frequency, released in July, is the first holistic frequency management solution for CTV and digital advertising in a closed beta. This solution provides demand-side platforms with frequency intelligence across a brand's entire media portfolio, reducing ad waste and improving campaign effectiveness.
The Harmony initiative is not just about improving efficiency and reducing costs. It is also focused on reducing carbon emissions as part of its goals. Across the total U.S. CTV market in 2024, this could represent more than $1 billion in immediate savings going back into the ecosystem.
Mike Treon, PMG Video and CTV Strategy Lead, stated that removing unnecessary friction points benefits both the buy and sell sides. He expressed optimism about the future of advertising, citing the industry-wide support for the Harmony initiative.
Innovid's founder and CEO, Zvika Netter, also expressed optimism about the future of advertising, citing the industry-wide support for the Harmony initiative. He believes that this initiative will create a CTV ecosystem that benefits all parties, with a particular focus on the viewer.
LG Ad Solutions is the latest partner to join the list of Harmony Direct users, which includes Assembly, CMI Media Group, Goodway Group, PMG, Roku, and Vizio. With more partners joining, the Harmony initiative is poised to revolutionise the CTV advertising industry.
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