National newspapers announce new ad trading platform
The IPA Media Futures Group, which represents the interests of media agencies, has backed the new Publisher Advertising Transaction System (PATS) as the newspaper industry looks to bring greater efficiencies to the way it trades.
With audiences now served across multiple platforms, it is hoped that PATS will streamline transactions and invoicing between publishers and agencies, bringing efficiencies to a buying and selling process that has changed little over the years.
Several GroupM agencies have already been a part of the development process, and further consultation to help integrate PATS into agency buying platforms will be carried out with various Publicis and Omnicom agencies, including VivaKi, Zenith, Starcom, PHD and OMD.
"There is a real appetite for a system that improves efficiencies for publishers and agencies and we are delighted that three of the biggest agency groups are already working with us," said Rufus Olins, CEO, Newsworks, the marketing body for national newsbrands.
"You could say this platform is overdue but arriving as it does now, it will offer access to total audiences, across all platforms, and make life much simpler. It is good to see the newspaper industry collaborating on this important issue."
Tom George, chairman of the IPA Media Futures Group and WPP's MEC, welcomed the initiative, saying: "An electronic transaction system between agencies and publishers makes eminent sense. In the modern media landscape, time is at a premium and the PATS system has the potential to streamline important but labour intensive processes."
The system will be funded by five Newsworks stakeholders working together on behalf of the whole industry - News UK, Mail Newspapers, Telegraph Media Group, Guardian Media Group and ESI Media.
In a statement issued this week, Newsworks said the system will be compatible with all agency platforms including Adazzle, Mediaocean Prisma and proprietary agency software.
"The way our readers consume news in print and on mobile devices is evolving rapidly," said David Pemsel, deputy chief executive of Guardian News & Media.
"Today over 40% of the Guardian's digital content is accessed via mobiles and tablets, and this percentage is growing. We therefore believe it is critical that we deliver a seamless advertising buying and selling experience."
PATS will be rolled out across the national newsbrands early in 2015 and will also be extended to include magazine publishers and regional newspapers.
Earlier this year, the NPA and Newsworks selected software provider Mediaocean to develop the system.