Background and challenge
LADbible Group, one of the world’s largest youth publishers with an audience approaching a billion, faced an industry landscape where advertisers had become increasingly frustrated with the lack of transparency, complexity, and high cost when buying digital advertising.
Solly Solomou, the founder and CEO of LADbible Group, commented that “More than £1 in every £5 spent on advertising is wasted every year because users are not fully seeing ads, or offered the best experience.”
LADbible Group has an expansive reach amongst under 34 year olds, and the group felt it was time to make it easier for clients to advertise towards this audience by providing a superior advertising product that not only guarantees completed views, but also at a substantially lower cost as it is sold directly by the LADbible Group.
What did LADbible & SeenThis do?
By utilizing SeenThis adaptive video streaming technology, LADbible Group was able to launch a “fully transparent” media buying option for online video ads where brands pay only for completed views, at a fixed price.
The product, named LADx, offer brands 100% completed views at a guaranteed £0.02 cost per completed view (CPCV) for video ads up to 10 seconds in length; the price goes up to a cost per mille (CPM) of £8 for ads longer than 10 seconds, with the CPCV estimated (but not guaranteed) between £0.03-£0.04.
The publisher estimates this pricing is 40-60% cheaper than similar ad units elsewhere, and the use of SeenThis streaming technology enables these cost guarantees.
Impressive results: +107% revenue on display ad inventory
Thanks to LADx’s unique, transparent, and market-first pricing model, the product has been very well received by the industry. Stevie Antonioni, LADbible Group’s Head of Display & Programmatic Sales, explains “..there is real value in the openness it creates between us as a publisher and the brands that we work with.”
As a result, for the last 9 months, LADbible Group has been able to offer a market-leading advertising product, at a lower cost for their clients, whilst increasing revenue by improving the eCPM of their display ad units by 107%.
Transparency and simplicity
Regarding the potential mid- and long-term industry implications of the SeenThis partnership, Antonioni continues “..if advertisers have greater confidence and trust in our industry as a result of a more transparent ad ecosystem, it would be safe to say they would see greater reason to invest more in marketing and realize the potential for advertising to be a significant growth driver for their businesses.”
Colin Gottlieb, LADbible Group Chief Growth Officer, further explains “..that is exactly the reason we partnered with SeenThis, to build LADx. We wanted to create an ad product that not only reduced the complexity and cost for our clients, but also moved the needle in the industry towards transparency & simplicity – because that is where the future lies.”
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Jesper Benon, CEO, SeenThis