Last year saw cookie deprecation dominate discussions in digital advertising, which made publishers think differently about how they unlock the value of their first-party data. At the same time, media buyers are starting to look beyond short-term metrics to assess the value of programmatic campaigns.
In this edition of the Sell-Side View, Teddy Tepavicharova, Director for Programmatic Strategy (UK) at Condé Nast, discusses this shift away from business as usual (BAU) planning, the rise of curated and private marketplaces, and what makes a successful programmatic partnership.
What is the greatest challenge facing publishers today?
The greatest challenge publishers face today is the same one they have always faced: the ability to innovate and stay ahead of the curve. From a programmatic point of view, the growing influence of DOOH and CTV gives traditional publishers a run for their money. Because consumers are changing their behaviours, advertisers want something new. This means the “relevance” they are used to is no longer enough. Now publishers need to move from the position of being reactive to active, and this is something new for them. The adoption of innovation, whether on tech or sustainability, is another challenge traditional publishers face.
How important is video revenue to your business?
In this day and age, video revenue has become increasingly important to most publishers’ business. The audience’s preference has been shifting towards video for a while now, and with mobile accounting for two-thirds of last year’s ad spend, it’s not surprising that 84 percent of total video ad revenue is projected to be generated through mobile in 2030.
From a commercial and planning point of view, the demand is there. Video is very important for Condé Nast and we leverage it to engage our premium audiences, meeting them where they are. Video allows our advertisers to tell their stories in a more compelling and visually appealing way. By positioning it in a high-quality, contextually relevant and brand-safe environment programmatically, it ensures advertisers maximise their return on investment while delivering impactful and engaging experiences for the viewers.
From a publisher’s standpoint, video is a great opportunity, especially now that long-form is making a strong resurgence due to consumers’ change of interaction and connection with this type of content. And if this is another revenue channel for publishers, why not utilise it?
Which ad tech vendors are delivering the most value to your business?
Our brand safety partners add value not just by ensuring compliance with ad regulations and industry standards, but also through their technology that detects and prevents ad fraud, enhancing the quality of our ad inventory and driving higher ROI for our advertisers. And each partnership provides valuable data, analytics, and insights that inform our data-driven decisions, helping us maximise monetisation efforts while maintaining high-quality ad experiences.
However, challenges persist over control, brand safety and lack of transparency in the supply chain. The overall goal in working with vendors should always revolve around reaching the consumers and offering them the best experience. We owe that to them.
If you could change one thing about the buy-side, what would it be?
I would change two things. Firstly, I would enhance media education, fostering an environment of constant improvement and testing, because clients rely on the buyers to consult, proposing the best ad strategy and the most suitable solution for client campaigns. There is a significant learning curve when it comes to programmatic.
Secondly, to value quality over quantity in their media planning. A client would be much happier with results and overall campaign impact if it took slightly longer to plan, but the quality, data and brand-safe environment were in place. I hope we have outgrown the practice of BAU planning for the sake of delivering the media plan before the deadline. It’s essential to look beyond the short-term metrics and focus on loyalty and long-term value. Consumers are tired of seeing the same activity at the same place over and over again, which more often leads to harming the brand. It’s our job to push the brands forward.
Which programmatic types are working best for you today?
Programmatic direct deals are still the preferable way of buying. I expect to see an increase in curated and private marketplaces, compared to open auctions. Some advertisers are already using those and working towards a more unified strategy to ensure quality. That said, curated and private marketplaces come with their own set of challenges for publishers, such as lack of transparency and control.
In my view, the biggest challenge is educating advertisers on the significance of programmatic direct deals for long-term marketing strategies and brand positioning, as well as the role of curated and private marketplaces. The open auction model has been the standard for so long that additional education will be necessary to shift perceptions and build understanding.
But no matter the programmatic type of buys, clients are looking for partners who would listen, brainstorm ideas, discuss gaps and propose adequate solutions, tailored to their needs and performance goals. It’s not about selling inventory as a supplier, but to be collaborative and solution-orientated.
What do you think is your company’s strongest USP?
From a media buyer’s point of view, inventory quality is one of the most discussed challenges among programmatic clients, so access to premium placements combined with a brand-safe environment is one of our strongest USPs. Condé Nast’s programmatic offering allows advertisers to access high-quality inventory across its titles, ensuring that ads are placed in a contextually relevant and trusted space.
Programmatic product innovations, such as impactful formats and ad placements, also attract advertisers by providing more precise targeting, tracking and measurable results in a quality environment. The more transparent publishers are, the more likely clients are to invest in advertising, ultimately leading to a positive shift in the advertising ecosystem.
From a reader or end customer’s point of view, the quality content is the USP. The range of titles and calibre of reliable editorial content at Condé Nast provide relevance and value to them, satisfying their need for problem-solving, inspiration, education, or simply entertainment. The community and emotional connection fostered through high-quality content enhances loyalty, making readers feel they are part of something meaningful. This connection goes beyond transactional engagement, creating a sense of belonging and trust, meaning they return for more content but also share it with others, amplifying its reach.
When you place ads next to this type of content, advertisers can ensure that their message reaches a more dedicated and engaged audience, build a strong brand association and sell products. In turn, this engagement strengthens the relationship between the advertiser and the end consumer, creating long-term value for both sides.
What are the challenges publishers face when it comes to Google’s U-turn on cookies?
This is a very complex question no matter how much we discuss it or talk about it. Google’s U-turn on cookies presented a huge dose of uncertainty for the ad tech ecosystem. The delay kept publishers floating without a certain direction but an unknown wait time ahead for the final decision. I think what no one wants to do is implement technologies that haven’t been tested.
In hindsight, it opened the conversation around independence. A publisher’s first-party data is one of their USPs, so a focus on how to expand and hold onto that through alternative identity solutions and first-party data tools is a great opportunity for innovation, creativity and education on what the best approach forward is, which ultimately should be customer-centric every step of the way. In any case, this will require much effort and resources to be implemented properly.
What person in the industry inspires you most today?
The teams I am working with inspire me. Internally, we are working with some of the best-in-class editorial, creative, strategy, digital and operation teams. I am looking at every function and capacity to gain inspiration, and the level of craft and detail that goes into every project motivates me.
Externally, the incredible clients I work with, both brands direct and agencies, are collaborative and full of ideas. The open dialogue allows us to develop innovative strategies together, ensuring that we meet their marketing objectives effectively. These partnerships are built on trust and mutual respect, which makes the work rewarding and impactful.
And I am always in awe of the different media communities within the industry that come together and support each other. Our job is very dynamic, but there is nothing like coming together. Everyone who makes a positive impact in the industry is worth following.
What does the future hold for publishers?
If I could summarise it in one word, it would be evolution. Product development and innovations are arising. Most publishers are focused on strengthening their existing products, while a huge number stay ahead of the curve by creating new ones to satisfy the programmatic clients’ needs.
More clients, more monetisation. Once the brands recognise the power of publishers and how they fit into the broader scope of their marketing strategy, no doubt, publishers will be in even higher demand. It’s about time. All the discussions around cookie depreciation made advertisers rethink publishers’ active role in the ecosystem and the enormous amount of data they sit on.
Inventory quality and safety are also paramount. The quality of content, connection with the reader and relevance, additionally supporting the subscription models, are on the rise. Niche communities foster trust and deeper engagement. Many publishers are starting to embrace this opportunity, creating tailored moments that advertisers can be a part of, which is great.
I would love to see a stronger implementation of sustainability across all business areas. Also, it’s always intriguing to watch how AI evolves on the publisher side, especially in paid media, with innovations like AI-driven SPOs, AI curations etc. But this is worth a whole other interview!
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