- New IAB chairman Bob Carrigan speaks
- Google CEO Eric Schmidt
- Eric Schmidt audience Q&A
- Outgoing Chair David Moore accepts award; Rothenberg Roasted
- VIDEO: Bob Carrigan's presentation courtesy of the IAB
- VIDEO: Eric Schmidt's presentation courtesy of the IAB
- VIDEO: Randall Rothenberg courtesy of the IAB
4:45p: Music fade and.... New IAB Chairman Bob Carrigan of IDG takes the stage announcing that there are 750 people looking at him from the audience right now. He adds they're giving "Randall Rothenberg one more chance to get it right this time" as he's been confirmed as CEO again at the IAB.
4:49p: Carrigan promises "spectacular" meeting.
4:50 p: My beer, delightfully chilled, is half done.
4:52 p: IAB year in review: Mobile has been a focus as the Mobile Marketing Center of Excellence was established; IAB rising stars program; "Data Demystification" - a new council to "find answers" about the use of data in advertising -whoa, good luck with that!
4:54 p: More year in review: self-reg plan info; new "Making Measurement Make Sense" initiative that sounds a bit like the IAB is exploring making a GRP (gross ratings point). It's aimed at getting brand advertisers to spend money.
4:55 p: More IAB news: IAB Member Code of Conduct - here the IAB would seem to be looking to answer questions about policing its own membership and internet advertising, in general.
4:58 p: Carrigan now talking about tablets and mobile - new ways for needy publishers to drive the top and bottom lines they hope.
4:59 p: Carrigan advocating for multiple price points for publishers thinking of pay walls. "We shouldn't over obsess about the first models out of the box." NY Times, you can play around with your model a bit.
5:03 p: Yes! Carrigan wants in-house R&D at publishers. That's what I'm talkin' about. Get aggressive, publishers. Carrigan: "We need to stick our necks out."
5:05 p: Here we go: regarding ad exchanges and RTB, Carrigan thinks the in-house team needs to figure it out now. Says, "Man up and take up a leap."
5:06 p: Carrigan now giving props to B2B internet ad world. I couldn't agree more.
5:07 p: Fourth and final issue from Carrigan (I lost count, Bob, sorry.) - get those brand marketers to spend money! My thoughts for Bob: Cross-channel attribution, maybe the GRP (is that gonna work?), online regulation (let's take the bullet) - that should help. Good point about engagement... yes, new engagement metrics.
5:09 p: Carrigan says the IAB meeting is "called to order." I sip in affirmation.
5:11 p: Schmidt lays out his thesis, technology is a "net win" for humanity.
5:13 p: Giving examples of the way technology provides transparency and enables people to do things that they couldn't do before - cloud computing stuff too. "Next 10 years of advertising, I start by looking at what the consumer is doing online..."
5:16 p: "In more than 5 years, 50% of the media consumed will be digital." He adds someday it will go (back) to being just "media."
5:17 p: David Smith from Mediasmith has just checked in to the meeting on Foursquare. John Battelle banging out the tweets.
5:18 p: Mobile and display advertising is what will revolutionize media. Schmidt says that online display ad has grown faster than the overall market - he says because "it works." 62 bil/26 bil, 17 bil/9 bil spend in display for global/u.s. He thinks this can be a $200 billion business globally. Didn't say by when - I don't think.
5:20 p: Talking about Google ad exchange-related acquisitions. All right now he's going to tell us how and when to get $200 billion number: "he says its too complicated right now" to create a display campaign. He wants AUTOMATION! Efficiency breeds scale.. wants to solve measurement with top advertisers. -second point about measurement at this conference (Day 1).
5:22 p: Google betting on three things: everything changing. "When you take the ad exchange, you build a multiplier of data. (...) you can also run cross-platform campaigns (desktop, mobile, tablet)." Measurability plus reach plus "the publisher solution" where the publisher provides real-time feedback (<--- My words).
5:24 p: Chrome browser compared to Twitter in terms of scale. (Is that the same thing? Not really.) Exchange is about the efficient market and its about reach and scale as the differentiator for publishers, presumably.
5:27 p: Talking about Google's new One Pass and its tiered pricing structure. Google is focused on end users. Example: engaging the mass market - Super Bowl ad with VW was tested before the Super Bowl. Facebook comments drove the awareness. Schmidt wants to match the social media campaign, measure it, and map it to the Exchange/media.
5:29 p: Schmidt talking about offers and opting in. GroupOn look out, I guess.
5:32 p.: Schmidt referencing how predictive the world is becoming, power of artificial intelligence - and that it's a positive WITH the consumer's permission: "The consumer can help me." "Now you can waste time watching the Internet" (was TV).
5:34 p.: And he's done. It's official.. no real news.
5:36 p.: Q&A - Closed versus open debate question from NYT's Martin Nisenholtz. Schmidt loving open. "the world prefers choice and openness" when it comes to web apps. It's ultimately about scale and that needs to "open" is his point.
5:38 p.: Triggit's Zach Coelius checks in with a question! "How does Google anticipate with conflicts" of interest. Schmidt believes there will be multiple exchanges! He thinks that customers need scale to a point. "The evidence right now is that the exchange has been a good deal for publishers because of reach (...) I'm not worried about the dominant or monopoly position."
5:41 p.: Question about how DSPs and the like can get brand dollars online. Schmidt says Google has the tools the brand marketers need.
5:42 p.: Yahoo! Right Media Exchange chief Ramsey McGrory tweets: "Google AdX will not be a monopoly. Eric Schmidt said it and I say it too."
5:45 p.: Schmidt answers question from TV targeter Simulmedia CEO. Schmidt thinks the same ROI is possible with digital, targeted TV with text and display.
5:47 p.: Looking at small company acquisitions, Schmidt says they look at smaller for talent, engineering talent. The bigger acquisitions require tremendous focus in that you can't change their culture as easily.
5:49 p.: Question about WHEN $200 billion global display market will arrive. Schmidt says 4 years minimum but says he's seeing growth rates in display that show promise about quick achievement of $200 billion number.. demurs to 5-10 years.
5:52 p.: Outgoing IAB chairman David Moore accepts Founders award and says he "will pull a Randall and stay here a little longer." Then says he's just joking. Moore knows how to dress- consistently dapper. Gives an overview of his tenure - gets a standing 'O.
6:00 p.: "Tribute" for Randall Rothenberg - what they would have done if he was still wearing his Time Inc. hat. Wend Millard and Jim Spanfeller join Moore on stage for Rothenberg anecdotes. Moore says no dissent to bringing Rothenberg back among the people making the decision.
6:05 p.: Spanfeller's turn and talks about he originally hired Rothenberg the first time. Greg Stuart said being CEO of IAB was like "herding cats" - his tip for hiring a new CEO which became Rothenberg.
6:09 p.: Millard on Rothenberg the consensus builder.
6:10 p.: LUMA Partners' Terence Kawaja takes the stage to roast Rothenberg - but not literally. No video though, just a PowerPoint with embedded video.
6:17 p.: Rothenberg appears and says, "Now I know what it's like to be dead." He announces the "Host Randall for a Day" initiative where any IAB member can have him in their offices for a day as the IAB offices are renovated. I'm not making that up. Accepts an award - he's glad to be back.
6:21 p. and beyond...: Service and sales awards - Turn and Undertone were winners.. Kevin Mannion of Advertising Perceptions provided a good overview of what sales teams are seeing and doing including the observation that video ad network budget isn't coming from TV yet - just the marketer's digital line item. Get his PowerPoint - likely through the IAB website here.