Online publishers sign MOU for standard metric system to gauge performance
MANILA, Philippines – Frontrunners in the industry of online publication have signed a Memorandum of Understanding (MOU) for a standard metric system to gauge their performance.
Six online publishers agreed on Monday to acquire a third-party standard metric system, which according to Paolo Prieto, president of INQUIRER.net, was a “bold move” aimed at raising advertising spending for the industry.
Those part of this collaboration were Inquirer Interactive, Inc., GMA New Media, Inc., ABS-CBN Interactive, Inc., PhilStar Global Corp., Summit Publishing Co., Inc., Philippine Entertainment Portal, Inc., and BusinessWorld New Media, Inc.
The host of the event, GMA’s Edna Belleza, said that talk of creating a standard metric system began five months ago when the six leading publishing companies started meeting regularly. She added that this collaboration among online publishers was relevant to the times, and that the MOU signing formalized their commitment to the progress of the industry.
This development “heralds new and exciting times” to Connie Nolasco-Lopez, managing director of ABS-CBN Interactive, who said that online media was making progress even thought it was before “perceived a platform that is nice to have; a poor cousin to traditional platforms of television, radio and print.” Online media, said Lopez, has the global reach and the “growth of access and the increasing amount of time people are spending online,” has added to its relevance.
Prieto pegged the number of internet users in the country at 30 million but said that advertisers needed concrete data to base their decisions on placing advertisments. This was where Australian third party standard metric system Effective Measure came in.
Effective Measure analyzes impressions and page views, providing advertisers with the information they need to decide where to place their investments.
To Vergel Santos, Businessworld’s executive editor, their collaboration with Effective Measure showed “their seriousness… to heed certain standards.”
Summit Publishing and PEP president Liza Gokongwei-Cheng said that Effective Measure would provide “transparency in presenting data as publishers to advertisers using a common standard.”
Like the other online media executives, Kevin Belmonte, president and CEO of Philstar.com expected great things from the collaboration, saying “finally, we will have a credible, accurate measurement of our business, across the industry.”
GMA Network chairman Attorney Felipe Gozon said Effective Measure would ensure that advertisers would get a “credible standard by which they can judge where to put their money.”
Belmonte explained that the move would be beneficial not only to the publishers and advertisers but to the readers as well.
Gary Libby, the Philippine Daily Inquirer’s vice-president for Information Technology and Pre-Press and INQUIRER.net’s chief operating officer said that data from Effective Measure would be assessed by April.
Russel Conrad, Regional Director for Effective Measure Southeast Asia, said the MOU signing was special as it was the first in the region.
Other executives who witnessed the event were Philippine Daily Inquirer (PDI) president and chief executive officer Sandy Prieto-Romualdez, PDI chairman Marixi Prieto, Philstar.com chief operating officer Rose Anne Belmonte, GMA New Media president and chief operating officer Judd Gallares, and Businessworld executive editor Arnold Belleza.
