NEW YORK Nielsen today officially launched its new syndicated reporting service for out-of-home video networks.
The monthly service, called Nielsen On Location Media, has already signed a number of clients including Ideacast, Gas Station TV, The Hotel Networks, Arena Media Networks, Buzztime and OnSpot.
The reports, paid for by the OOH video networks, will be delivered to Nielsen agency clients free of charge.
One of the fastest-growing mediums, OOH video networks bring in $1.3 billion in advertising, according to PQ Media. But until now, the medium has lacked standardized metrics needed for advertisers and agencies to properly value the medium and justify a more significant share of advertising budgets.
"Everyone in the business has the data, and it means that agencies are in a spot where they have to take a position on it. It creates a whole new ballgame," said Paul Lindstrom, svp, Nielsen On Location Media.
Nielsen developed the service in consultation with agencies and advertisers, OOH video networks and the Out of Home Video Advertising Bureau, which has developed audience metrics guidelines for measuring the medium.
"It is important for the networks and their research providers to follow these guidelines so we are pleased that one of the most recognized brands in media measurement is providing a solution that is intended to be consistent with them," said Suzanne Alecia, president of OVAB.
Adweek is a unit of the Nielsen Co.