SAN MATEO, Calif.�Programmatic advertising for radio is on track to be an important trend again in 2016.
Technology company Jelli says it has introduced SpotPlan for Advertisers, a new programmatic offering which the company describes in a release as the �first demand-side platform for broadcast radio advertising.�
The company had previously introduced a platform that enables radio stations to sell programmatic advertising, including RadioSpot in 2014 and �2015�s RadioDash�3.0 launch.
�Jelli�s mission is to create the fastest and easiest way to buy radio ads, and with this first-of-its-kind demand-side platform we can now accelerate radio buying to the speed of digital through self-service, data-enhanced audience buying models,� said Jelli CEO and co-founder Mike Dougherty in the release. (Read more about the company�s goals in this Q&A with Dougherty.)
Jelli developed the cloud-based technology platform in order to enable both advertisers and agencies to buy radio advertising in real-time on a self-service, automated basis. Users of SpotPlan for Advertisers will eliminate some of the steps and delays of the traditional (manual) request for proposal model and utilize audience targeting and real-time reporting, according to Jelli.
The new advertiser-centric platform provides access to iHeartMedia�s Private Network and Expressway from Katz (both of which signed on to use Jelli�s technology in April of last year), as well as other ad buying platforms.
�Radio is emerging as an exciting new area for programmatic advertising, combining the inherent reach of the medium with self-service demand-side technology, advanced data integration and large scale automated guaranteed and private exchanges,� market analysis company IDC�s Program Vice President of Media & Entertainment Karsten Weide. �The use of programmatic continues to grow rapidly across the media landscape, as marketers tap the benefits of automation and efficiencies to achieve higher ROI on their media spend.�
According to the release, analysts at IDC predict that programmatic advertising is on target to hit $19.7 billion globally in 2016 and is growing at 23% annually and forecast that �automated guaranteed� and �private networks� will be the fastest growth segments for programmatic, projected to expand by 37% in 2016 and 47% in 2017.
SpotPlan for Advertisers is currently only available to Early Access Partners, but a general relasee is targeted for later this year. Initial customers include agencies Starcom, Mediavest | Spark, Dentsu Aegis Network, Horizon Media, Havas Media, IPG Mediabrands and Varick Media Management.