The Billboard Insider Podcast
00:14:24 · Dave Westburg, Kym Frank
[00:14:24] S0: Mhmm. [00:14:24] S1: Because they're not measured or they're using circulation counts. So we do provide that. In assessing the landscape, you know, I had said earlier that we provide a lot of consultative work on behalf of our members, and I think that's also been a huge new value for some of our smaller operators is feeling like, well, I can't afford a research person on my team. You know, there's maybe only two of us and a dog sitting in our office, and and and we're all doing sales and changing the light bulbs. But to be able to reach out to a team of researchers who you can consider part of your own team and say to them, hey. I got someone in town who won't even take a meeting with me. Mhmm. Do you have any information that can help me? Mhmm. And having someone here actually help curate content so that you can get that meeting, so that you have something to send to that client that maybe perks their ears up or gets them to take a phone call. And we've had a lot of members who have used that service to great results. [00:15:20] S0: I could tell you that from a practical point of view, as a small operator, trying to get any national business without impressions data is next to impossible. They just don't wanna deal with Impressions is the currency that they want when they're doing buys. [00:15:37] S1: For sure. And I also think a lot of them are quite frankly using either our software or our our data through another piece of software. And if you're not then Geopath measured, you're not even in the system.
00:15:37 · Kym Frank, Dave Westburg
[00:15:37] S1: For sure. And I also think a lot of them are quite frankly using either our software or our our data through another piece of software. And if you're not then Geopath measured, you're not even in the system. [00:15:48] S0: Oh, okay. Am I right that more than half your members have fewer than 50 faces right now? [00:15:56] S1: That is true. We certainly skew on the smaller side of operators. [00:16:01] S0: That's a little known fact, Kym. [00:16:04] S1: It's been a huge area of growth for us. [00:16:06] S0: Yeah. [00:16:07] S1: You know, certainly, there's been a lot of interest in what we've been doing from a measurement perspective. There's been a lot of buzz about the organization. [00:16:14] S0: Yes. [00:16:14] S1: We're really excited about it because nothing would make me happier than to to have something we did here as an organization change, you know, somebody's revenue by the end of the year Yes. And have them next year say, you know, every penny that I paid to Geopath, I made back. [00:16:30] S0: Mhmm. Mhmm. Well, let's switch gears a little bit and talk about the media rating council. The media rating councils is looking at developing an independent set of out of home measurement standards. Can... What... What's your take on what they're trying to do?
00:16:30 · Dave Westburg, Kym Frank
[00:16:30] S0: Mhmm. Mhmm. Well, let's switch gears a little bit and talk about the media rating council. The media rating councils is looking at developing an independent set of out of home measurement standards. Can... What... What's your take on what they're trying to do? [00:16:46] S1: Yeah. So George Ivey and the MRC, they've been really fabulous partners to us here at Geopath. And, you know, quite frankly, they've been a really valuable resource to me and all the organizations that I've worked at throughout my research career. Big industry presence, really fabulous resource that we have to make sure that what people are saying they are doing is actually what they're doing. Dylan Maven, who's my head of product, and I were involved in the work to create digital out of home standards with the MRC last year. Mhmm. We're continuing our active involvement and contributions as the organization works to develop standards now for the rest of the out of home formats. I think what they're doing is really important. You know, more and more companies are entering the out of home ecosystem with measurement and data and research solutions, whether it's, you know, attribution or sensor companies or data targeting. And, you know, as there are more and more companies and the data landscape gets more complex, it's really important that everybody's following the same set of rules that we're all speaking the same language. [00:17:49] S0: Yes.
00:17:49 · Dave Westburg, Kym Frank
[00:17:49] S0: Yes. [00:17:49] S1: I think, you know, the out of home industry, long before my time, made up what I think is a really amazing choice to measure likelihood to see impressions. [00:17:57] S0: Mhmm. Mhmm. [00:17:58] S1: So the Geopath impressions are not we just drove by the sign and we're being counted. You have to actually have a probability to look at a sign. And that's important because if you have a poster and a bulletin on the same stretch of roadway, they don't have the same impressions. Correct. [00:18:13] S0: But if [00:18:13] S1: you're just counting circulation, everybody has the same numbers on that road. Okay. So I think it's really important that the MRC is looking at what the out of home industry has curated and then creating rules and standards around the decisions the industry has made and making sure that we're all playing by the same rules. [00:18:30] S0: Now one... Once they come up with a set of standards, am I right that an agency or an entity can choose to be audited by them for compliance with the standards? And what's your sense to... How will Geopath approach that decision? [00:18:46] S1: Certainly. So you can, you know, you can choose to follow the standards [00:18:51] S0: Mhmm.
00:18:51 · Dave Westburg, Kym Frank
[00:18:51] S0: Mhmm. [00:18:51] S1: And not be MRC accredited. That's certainly an option. You know, getting MRC accreditation is a huge investment, not just financially depending upon the complexity of the audit, but also in terms of time. It's certainly a resource heavy thing that goes on. You you basically have an outside CPA firm that comes in for a preaudit and assesses everything you have, all of your documentation, identifies all the holes and gaps that you're gonna need to fill before you go through the total audit. It's time consuming. It's long process, but it's really super valuable. So we have spoke... We've had initial conversations with George about what it would look like and what the right timing would be for a preaudit. Mhmm. And then you don't really go into the preaudit phase without an intention to go through the full audit. So I guess, you know, once we're at that point, I will go to my board of directors and say, this is my recommendation that we pursue accreditation. Mhmm. This is what we think it will cost both financially and from a resource timing standpoint. Let's have a vote, and let's decide if we would like to have the new methodology accredited. [00:20:00] S0: So we watch this space for further developments. But in any case, it sounds like no matter what happens, there'll be a set of standards that can help everybody to have a common currency.
00:20:00 · Dave Westburg, Kym Frank
[00:20:00] S0: So we watch this space for further developments. But in any case, it sounds like no matter what happens, there'll be a set of standards that can help everybody to have a common currency. [00:20:11] S1: For sure. Yeah. And and that can only benefit the industry. It provides transparency, and it helps people who are coming in from outside who may have really interesting technology and data solutions to understand, well, okay. Here's my road map. [00:20:25] S0: Yes. [00:20:26] S1: I think the timing's great because, you know, as we are in the final stages of our measurement system, we're able to look to the standards and make sure that we're in alignment with what's being published now before, you know, we dot all the i's and cross all the t's. Mhmm. But, also, you know, it's a great collaborative process. I think there are 30 different representatives from different ecos... Parts of the ecosystem that participate in the MRC process on the guidelines. And, really, kudos to the patience of Anthony Torrieri for managing that process with so many chefs. [00:21:02] S0: Wow. [00:21:03] S1: Yeah. But it's exciting. I love that they're paying attention to out of home that we have a seat at the table at the MRC. It's really important. [00:21:09] S0: That's great. Well, let's finish let's finish up with a segment of overrated or underrated. I'll say a phrase, and you say if it's overrated or underrated and why. [00:21:20] S1: You know there's no way I'm only gonna be able to say one word. Right? No. You can...