RealTime IT News

IAB Singapore Applies To Be Society

The industry in Singapore is looking into the formation of a local chapter of the Internet Advertising Bureau (IAB) to advance the Internet as a valuable channel for advertising in South East Asia.

IAB Singapore is applying to be a society here this month. When that is approved, it will then apply to be an official IAB chapter.

The entire process will take approximately four months. There are 16 founding companies.

They are Brand Dialogue, Technowledge Asia Pte Ltd, CyberSoft Pte Ltd, Human Interactive Technologies (HIT), The Connection, TCS MediaCity, SingNet Pte Ltd, Expanded Media Asia Pte Ltd, Tricast Pte Ltd, Macromedia Inc, EastWest Public Relations Pte Ltd, Altavista Skali, Active Media Pte Ltd, Publicis Technology, Yahoo, and The Edge Consultants.

Official discussions of the formation of IAB Singapore were held four months ago.

While a publishing and content development consultant at Sembawang Media, Schoppert organized a seminar and brought together media planners and Internet service providers (ISPs) at the end of 1996 to discuss the future of online advertising in Singapore.

"That leads into the formation of the Internet Advertising Bureau Singapore," Schoppert said.

He said that the media profession has often discussed the idea of educating the advertising community in Singapore and creating industry standards for online advertising.

"The industry on the whole has not always adopted the best practices -- both the publishers and the advertisers."

There is a learning curve for everybody. As advertisers learn how to use the tools as they invest in the tools to measure CPM (cost per thousand), a base of knowledge and expertise will gradually build up, he said.

"The power of the CPM model for online advertisement is part of the reason why it is such an interesting proposition right now. The potential is way more powerful than print and TV. The industry is still running to fulfill that potential."