Media Market Makers Debuts Online Ad Exchange
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At a time when the ad industry is increasingly embracing online marketplaces, start-up Media Market Makers on Tuesday will unveil plans for a new business-to-business site for the buying, selling, and planning of online advertising.
The site is expected to launch in the second quarter, but the McCann-Erickson Worldgroup has already jumped in with its support, saying it will offer the services to clients of its member agencies.
Arie Ruttenberg, founder and former chief executive officer of the McCann-Kesher-Berrel advertising agency (an investor in the new firm) is taking the job of Media Market Makers chairman. Dennis Wong, formerly managing director of the McCann-Erickson Venture Group, will run day-to-day operations at the new company as president and chief operating officer.
"We're trying to revolutionize this market, offering an advanced e-business approach which provides a real alternative to existing online ad networks like DoubleClick (DCLK) , FlyCast (FCST) and 24/7 (TFSM), " said Dennis Wong, Media Market Makers president.
On the planned Media Market Makers site, advertisers will be able to specify what they're looking for in terms of demographics and other audience characteristics, and say what they're willing to pay. They then choose from the Web sites the filtering technology presents them and "offer" these sites the opportunity to participate in the campaign. The publishers who want to run the ads then select creative (which the advertiser has posted on the Media Market Makers site) that they think would be most effective on their sites.
The advertiser and publisher will also be able to negotiate on terms like compensation, campaign timing, or creative.
"Media Market Makers gives advertisers a new level of control," said Ira Carlin, chairman of Universal McCann, the worldwide media operation of McCann-Erickson Worldgroup.
"It makes it easy for them to evaluate hundreds of sites, place ads, then carefully monitor the results."
There won't be any fees to participate, but Media Market Makers will take a cut from every transaction that occurs on the site.
Initial investors in Media Market Makers include Odeon Capital Partners, IPEX, and McCann-Kesher-Berrel, Israel's largest advertising agency.