Advertising technology Software-as-a-Service (SaaS) firm Mediaocean has formed a blockchain partnership with Amino Payments for transparency and accountability in digital advertising, Mediaocean announced on Tuesday (Jan. 8).
The partnership expands upon several years of blockchain investments by Mediaocean, and strives to put end-to-end advertising campaign control back into the hands of marketing firms and ad agencies. The integration will enable spend optimization by giving advertisers a transparent view of programmatic supply chain path details tied to financial and contractual data.
Mediaocean has been putting money into research on how blockchain would work in the advertising landscape. With Amino Payments, Mediaocean’s applications will enhance the end-to-end “PO to payment” view of contractual media commitments.
“Mediaocean is continuing to innovate with partners like Amino Payments to empower marketers and agencies to plan, execute and measure global cross-media advertising,” said Ramsey McGrory, CRO of Mediaocean. “Delivering programmatic media supply chain transparency inside the financial and contractual workflow has been one of the top requests we’ve received as we’ve innovated with blockchain. The partnership with Amino Payments will help us to deliver this.”
Mediaocean captured principal dealings of the media buying life cycle in a pilot program, deployed last year. It recorded more than $670 million in media budgets.
Will Luttrell, Amino Payment’s co-founder and CEO, said that by linking its own supply chain path optimization tools with Mediaocean’s newest applications, media buyers will get “detailed visibility of their programmatic buys from purchase order to payment execution,” and get more value for their advertising spend.
Headquartered in New York City and founded in 2012, Mediaocean manages every aspect of the advertising workflow, and handles $150 billion in global media spend. The company works with over 100,000 agencies, advertisers and media companies.
Philadelphia-based Amino Payments launched in 2017, and was co-founded by Luttrell, Chris Chapman and David Bookspan. It combines blockchain, advertising and payment technologies to enforce transparency in online advertising.
Supply chain management is increasingly more strategic than operational, enabling businesses around the world to improve their bottom lines while meeting the intensifying demands of end customers: quick and convenient ordering, faster and cheaper delivery, greater product choice and more.