Pete Jimison of Frequency: “Personalized advertising means more revenue for all stakeholders”
Pete Jimison is CEO of F Sharp – a leader in digital music advertising – and the founder of Frequency – a new technology company that serves the growing demand for audio advertising. Pete will be speaking at Music 4.5 The Economics of Streaming in New York on 29 March 2017, and we caught up with him last week to discuss Frequency’s launch, his views on the future of audio advertising and personalization, and get a glimpse of what he’ll be covering at Music 4.5.
– Pete, thanks for taking the time to talk with us today. We’re here to talk about F Sharp’s new company, Frequency, but first could you tell us a bit about F Sharp and its place in the music industry for those who might not know you?
F Sharp is a boutique agency focused on digital music. When we started five years ago, Spotify was our main customer, and we have grown to support them and other publishers and music services in the digital music space. As we developed advertising technologies to monetize the music services we realized that there was an immense opportunity to provide advertisers with access to their audience across audio content providers and the tools to engage that audience, so we created Frequency.
– What is Frequency, and how does it work?
Frequency is a SaaS platform that gives advertisers the ability to create, manage and measure audio and rich media ad campaigns. It is a creative management platform for brands, agencies, and publishers, bringing together designers, producers, ad sellers, and advertising ops to create engaging ad experiences for the audio medium.
-Let’s say I’m an advertiser. How easy is it to use Frequency? How often will I need to engage with it, and what will it give me in return?
There are two paths with Frequency. In the first, publishers can create their own formats that advertisers can utilize, and also use it for organizing all campaigns that they have running, including metrics, access to different people on team, and a repository for creative assets.
The second is for advertisers who either represent brands, or for brands directly, who can use Frequency in much the same way – they can create campaigns in-house, including design and audio.
But there are other elements to Frequency, as well. For example, we make it easy to source voiceover talent and production studios for developing the audio ads. We’ve also aligned with SAG (the Screen Actors’ Guild) for preferred union rates around our audio products. As technology enables greater personalization for the audio ad experience, we want to make sure that all involved are benefitting from the developments. These relationships and tools open our customers up to a lot of talent on the voiceover side that they might not have had access to before.
-Through F Sharp you have a unique view into the streaming services landscape. What do you think the future holds for music streaming? What innovations would you like to see?
From where we sit, we’re trying to help streaming services monetize with new innovation around ad technology. Our end goal is to make advertising around audio streaming a more engaging experience for listeners; I want to get away from boring static display ads and repurposed radio ads that don’t engage the listener. I think the next five years will be about personalization – having a greater understanding of the listener’s preferences and the context of the moment when the listener is engaged with the content.
Interactive audio is also very exciting. Voice recognition with products such as Alexa and Google Home will create a whole new method for advertisers to speak with their customers, and not just at their customers.
-Pete, you’ll be speaking at the upcoming Music 4.5 The Economics of Streaming on 29 March in New York. What inspired you to become involved in this seminar, and what can we expect from your talk?
I attended Music 4.5 The Politics of Licensing in London last fall and met Rassami (of 2Pears). Although I’m coming in from a completely different angle and a lot of that seminar was outside my realm of knowledge, it’s important to talk about where the music industry is headed in terms of adoption of technology. A lot of people in the industry think about how they’ll get paid today, not tomorrow. It’s certainly important to focus on the concerns of musicians and rightsholders, but the future monetization needs to be included in the conversation. I think, coming from F Sharp and Frequency, I can add a unique perspective because we’re building that future right now and we are witnessing first-hand the impact the technology is having on monetization of music content.
My talk at Music 4.5 The Economics of Streaming will be looking at how advertising is changing across the music services, and how personalized advertising means more revenue for all stakeholders. We’ll be looking at different solutions, including the transformation of radio going into digital – as it scales, what does it mean in terms of future profitability for the music services?
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