OpenRTB Poised to Become Industry Standard for Accelerating Adoption of Real-Time Bidding
SAN FRANCISCO – APRIL 12, 2011 – Less than three months after the OpenRTB Consortium was formed to improve and accelerate the adoption of real-time bidding (RTB) through the creation of open industry standards, it today announced several major milestones:
- Over seventy new supporters, including Adapt.tv, AdMeta, BrightRoll, Cadreon, Casale Media, CONTEXTWEB, Cox Digital Solutions, Fluent Mobile, Glam Media, Jumptap, LiveRail, LucidMedia, Media6Degrees, MediaPlex, MoceanMobile, Nexage, OpenX Services, Smaato, the MIG, TubeMogul, [x+1], XA.net, and YuMe.
- Fully operational block list standards among demand- and supply-side partners;
- Addition of CONTEXTWEB into the OpenRTB developer committee;
- Creation of an OpenRTB Mobile Committee led by Nexage; and
- Creation of OpenRTB Video Committee led by Adapt.tv.
The announcement was made at the OpenRTB Roundtable, held at the W Hotel where over 120 CEO and CTOs joined moderator Greg Sterling of Sterling Market Intelligence in a discussion on the state of OpenRTB, its rapid adoption, and what it means to the industry. The group’s rapid success highlights the broad support from an entire industry, and their willingness to embrace open standards to facilitate the adoption of programmatic buying across exchange-traded media, and to ensure the sustainability of an open and competitive marketplace.
“This announcement demonstrates how quickly the industry has recognized the need for open RTB standards to eliminate friction in the marketplace and foster healthy competition,” said Bill Simmons, DataXu co-founder and CTO and OpenRTB Consortium spokesperson. “The OpenRTB Consortium will continue efforts to drive greater innovation, cooperation, and profitability for the entire industry.”
The OpenRTB Consortium was founded December 13 by technology leaders representing both the demand- and supply sides of the digital advertising ecosystem, including DataXu, MediaMath, Turn, AdMeld, PubMatic, and the Rubicon Project. The consortium’s initial goal is to develop open standards that address one of the industry’s most time, cost and labor-intensive processes: managing publisher and advertiser blocklists. The standards are fully operational across the consortium’s member companies and being adopted across the ecosystem at a rapid pace.
“Cox Digital Solutions has adopted OpenRTB for our CDS Connect service for a simple reason – it enables us to bring our premium and proprietary inventory to the automated buying marketplace in a seamless manner,” said Amy Richards, SVP of Publisher Strategy & Monetization at Cox Digital Solutions. “Standards like this enable our industry to innovate more rapidly and pave the way for a robust digital advertising ecosystem based on trust between advertisers and publishers.”
“CONTEXTWEB has adopted OpenRTB because it opens the way for a much more vigorous digital advertising ecosystem,” said Jay Sears, General Manager at CONTEXTWEB. “It is a first step toward a larger vision where an open-source set of buying standards will streamline the real-time media buying process, and create greater efficiencies for both advertisers and publishers.”