TheLadBible has launched a “fully transparent” media buying option for online video ads in which brands pay only for fully completed views at a set price.
Its LadX product offers brands 100% completed views at a guaranteed £0.02 cost per completed view (CPCV) for video ads that run for up to 10 seconds. For ads longer than 10 seconds, the price goes up to a cost per mille of £8, with the CPCV estimated (but not guaranteed) at between £0.03 and £0.04.
The youth-oriented publisher estimates these prices are between 40%-60% cheaper than similar ad units elsewhere and it claims its use of technology enables it to offer low-price guarantees. LadX is powered by Swedish video adtech company SeenThis, which enables “adaptive streaming tech”, similar to that used by Netflix and YouTube.
Colin Gottlieb, LadBible Group’s chief growth officer, told Campaign that the company wants to incentivise advertisers to provide creative that works for its young audience. This is why LadX is not guaranteeing a CPCV for videos longer than 10 seconds.
Solly Solomou, founder and chief executive of LadBible Group, warned that more than £1 in every £5 spent on advertising is wasted every year because users are not fully seeing ads or being offered the best experience.
He said: “Advertisers are understandably frustrated at the complexity and cost when buying digital advertising. We have huge reach of under-34-year-olds and we felt it was time to help make it easier for clients to advertise to them using a superior advertising product that not only guarantees completed views but at a substantially lower cost because it’s direct from us.”
The publisher is offering LadX alongside its existing display products across its LadBible, Tyla, Unilad and SportBible websites.
Gottlieb, who co-founded media agency Manning Gottlieb, exited last year as chief executive of Omnicom Media Group in EMEA and chairman of OMD Worldwide. He joined LadBible Group within months in an advisory role and was appointed chief growth officer in February.