Canoe Ventures, aiming to ramp up its national video-on-demand advertising business this year, said it is in the initial stages of securing accreditation for its VOD ad-insertion reporting service from the Media Rating Council.
Canoe, jointly owned by the six largest U.S. cable operators, in February 2012 shut down its interactive TV efforts -- laying off about 80% of the company's employees -- to focus exclusively on VOD advertising.
Since then Canoe, now based in Denver, has been quietly building out its VOD dynamic ad insertion (DAI) capabilities. It has enabled the service with a few programmers, including FearNet.
Now Canoe is looking for MRC certification of its service that provides ad impression delivery reports to national programming clients that use the Canoe VOD DAI service. The MRC sets standards for audience measurement for the media industry and administers an audit and accreditation process to verify compliance with those standards.
"Canoe Ventures is pleased to be working with the MRC, as this is another step forward in representing the true value of VOD DAI,” Canoe CEO Joel Hassell, who was formerly chief technology officer, said in a statement. “More marketers are seeing VOD DAI as an opportunity to capture audiences who are time-shifting their viewing, and with additional measurement, we expect this platform will become more integrated into marketers’ media plans.”
The Canoe VOD DAI service is currently in a “pre-audit” stage, after which the service will be subject to a comprehensive audit conducted by an independent accounting firm engaged by the MRC. The completed audit will be reviewed by an MRC audit committee, which ultimately will make a recommendation on the accreditation status of Canoe’s VOD DAI service.
MRC executive director and CEO George Ivie commented, "The MRC is excited to be working with Canoe Ventures as it enters the MRC accreditation process. This initiative demonstrates its commitment to providing the marketplace a firm set of data that complies with industry measurement standards, and ultimately will help marketers have confidence in the role that VOD DAI can play as part of their media mix."
New York-based MRC was originally formed as the Broadcast Rating Council in the early 1960s after U.S. House of Representatives hearings recommended an industry-funded organization to review and accredit audience rating services.