US broadcasting companies FOX, Tribune Media, and Univision have joined forces with Timeline Labs to announce NewCoin, a new data venture aimed at addressing deficiencies in local market television audience measurement. The mission of NewCoin is to harness the data gathering power of currently available and emerging technologies, in order to create a broader based measurement tool that will accurately measure audiences across the entire spectrum of linear and digital platforms
In making the announcement, the companies jointly stated, “The time for innovation is now and we believe that the audience measurement evolution will be driven locally.”
The Dallas market will be used to develop and “beta test” the service before it is scaled to other markets. The test will involve sharing insights with the local ad community for input and development. This open sourced approach will make NewCoin LLC unique in local market measurement.
Timeline Labs is a leading SaaS platform enabling media companies and brands to analyze billions of social media messages daily in real-time. Timeline will use technology provided by SeaChange International, which will strengthen NewCoin’s ability to deliver a comprehensive audience management solution.
Malcolm CasSelle, CEO, Timeline Labs stated, “We’re taking a clean slate approach to fix the current ratings system’s inability to measure the full TV audience. Meaningful innovation can result from the collaboration of new technologies and data sources. Everyone at Timeline is pleased to be working with partner broadcasters and a multiscreen enabler like SeaChange to develop a comprehensive audience measurement solution.”
Larry Wert, President, Tribune Media stated, “We believe the NewCoin initiative could lead to a much needed accurate and comprehensive audience measurement solution across all platforms.”
“We know our Hispanic audiences are driving media use on linear and digital platforms and are pleased to work with Timeline Labs to develop a much needed tool to effectively capture total media consumption,” stated Kevin Cuddihy, President of Local Media, Univision Communications Inc.
Jack Abernethy, CEO, FOX Television Stations added, “We are glad to be partnering with Timeline Labs and expect that what works in Dallas will move to other local markets.”