The five separate videos in this interview are:
Title (Length in Minutes)
Rentrak, Privacy and Standards (4:16)
Measurement and Segmentation (4:11)
Changes in the Industry (5:27)
Innovations and Predictions (4:59)
Bill Livek, CEO Rentrak discusses his background, career philosophy and work experience.
CW: One of the big discussions about research in set top box data, consumer usage behavior today is the issue of privacy. How is Rentrak addressing that?
BL: We take privacy very seriously. The future is phenomenal for the American consumer because in America brand owners can produce and distribute products very effectively and very efficiently because they create mass markets (this means the consumer gets great value because efficient advertising actually lowers the product cost). Advertising and relationships with consumers are very important. That whole relationship gets destroyed if you violate the bond of privacy between a consumer and companies like ourselves. Therefore all of the systems we utilize merging databases, we’re doing in a privacy compliant way with complete respect for the American consumer.
Bill Livek, CEO Rentrak discusses Rentrak, the issue of privacy in monitoring comsumer behavior and measurement standards.
Bill Livek, CEO Rentrak discusses measurement, segmentation and the multi screen impact on research.
CW: Can we talk about standards in measurement? We have several companies working with set top box data and we have a company like Nielsen that has the standard of the industry in terms of rating, VPVH and share. How can we best develop standards that can be accepted on a platform basis, for example in the measurement of set top box data?
BL: In my opinion, standards don’t get developed within committees. Standards get developed through billions and billions of iteration of trial and error and then over time understanding what should be done as a best practice. As an example: the data that a digital set top devices can distribute are very different depending on when they were built, by what company and the retrieval systems that companies that own the set top devices have. Rentrak has been doing this for years now and we have processed on a daily basis more information than American Express processes with their transactions. So literally billions of transactions where a dynamic set of editing and processing rules have had to be developed. Those have been developed by Rentrak and they continue to evolve. It is my view that Rentrak has a responsibility, being the leader in the business, to share with our customers and with the industry in a process through an industry group like the MRC (Media Research Council). Rentrak has a commitment to be completely transparent.
Bill Livek, CEO Rentrak discusses the most dramatic changes in the media industry over the past five years and the impact of the current economic environment on businesses and spending.
CW: Can you give me three predictions for the next five years?
BL: Wow. My crystal ball is usually broken but I will give it a shot. Databases will become essential in our business. Day to day advertising decisions will be reliant on databases. Second prediction – research will find its role in a different spot in conjunction with databases. And the third prediction is that as we come out of this great recession and the brand owners increase their profitability, the media companies that are providing content across all traditional and digital platforms will do extraordinarily well, in part because they will use systems like what Rentrak is providing today to communicate with advertisers.
Bill Livek, CEO Rentrak discusses innovations in the industry, big screen television and the evolution of television.