The online video advertising world has a new trade organization
Posted on Feb 24, 2014 by YuMe
As online video advertising continues to grow, a new trade organization has emerged at the forefront: the Global Online Video Association. The primary goal of this nonprofit organization – whose announcement came at the opening of Social Media Week – is to bring more marketing dollars to the digital video advertising medium.
GOVA is composed of nine multichannel networks that do business on YouTube: Big Frame, BroadbandTV, Collective Digital Studio, DECA, Discovery's Revision3, Fullscreen, Magnet Media, Maker Studios and MiTu Networks. Paul Kontonis, Collective Digital Studio's senior vice president of strategy and a respected voice in the online video advertising marketplace, will serve as GOVA's executive director.
"All these companies were formerly defined by just having a bunch of channels on YouTube," Kontonis told Adweek. "Now, they've all become major digital media companies … And they need a group like GOVA to protect their interests."
The online video advertising industry is not foreign to the idea of trade groups. The Interactive Advertising Bureau is a collection of more than 600 media and technology companies, which account for 86 percent of digital video advertising in the United States. The Online Publishers Association is made up of 54 well-known media brands involved in online advertising and media consumption research.
But Jason Krebs, who serves as sales chief at Maker Studios, tells Adweek that GOVA is a necessary group because, "the video world is just different."
"Everything from creation to consumption to how marketers should interact with users to the technology, it's different," added Krebs. "This is really about helping members to navigate the ecosystem. We felt it was the right time to make sure we are driving the industry forward."
GOVA will also look to extend its influence across multiple digital video platforms, including Amazon, Hulu and Xbox.