LG Ad Solutions Now Partners with Innovid's Harmony Program
Innovid's Harmony Initiative: Revolutionising the Advertising Industry
In a significant stride towards a greener future, Innovid launched the Harmony initiative in April 2023. This groundbreaking initiative, designed to improve efficiency, return on investment, enhance transparency and control, reduce carbon emissions, and provide better viewing experiences for consumers across Connected TV (CTV) and digital, is gathering industry-wide support.
One of the key components of the Harmony initiative is Harmony Direct. This part of the initiative offers a streamlined workflow for guaranteed, nonbiddable CTV media, aiming to remove friction points such as additional technology hops, fees, and energy waste. PMG, an early agency adopter, is now rolling out Harmony Direct across its portfolio of clients, finding major efficiencies with programmatic buys, including an increase in working media dollars.
Another innovative feature of the Harmony initiative is Harmony Frequency. Released in July, this holistic frequency management solution for CTV and digital advertising is currently in closed beta. It aims to reduce ad waste, strengthen campaign effectiveness, and improve the viewing experience. PMG found that Harmony Frequency reduced ad waste, improved campaign effectiveness, and enhanced the viewing experience. Across the U.S. CTV market, the average 8% increase in working media for agency partners could represent more than $1 billion in immediate savings going back into the ecosystem.
Publisher partners have also seen benefits from Harmony Frequency. They improved yield by up to 15%, with average fill rates increasing from 90% to 100%. LG Ad Solutions, the latest addition to the Harmony initiative, is now a partner using Harmony Direct, joining Assembly, CMI Media Group, Goodway Group, PMG, Roku, and Vizio.
Zvika Netter, founder and CEO of Innovid, expressed optimism about the future of advertising due to the industry-wide support for the Harmony initiative. The Harmony initiative aims to create a CTV ecosystem that benefits all parties, with a particular focus on the viewer. Innovid's Harmony initiative is not just about improving efficiency and reducing carbon emissions; it's about creating a better, more sustainable future for the advertising industry.
Innovid's software platform, Innovid, is a leader in creating, delivering, measuring, and optimising connected TV, linear, and digital advertising. By joining forces with industry partners, Innovid is set to revolutionise the advertising industry, making it more efficient, sustainable, and beneficial for all.
