Singapore's two biggest publishers have teamed up to create a programmatic exchange for digital advertisers.
Singapore Press Holdings and Mediacorp will work together on the digital advertising initiative which will offer most of their inventory, as well as helping advertisers avoid dubious websites.
With the Singapore Media Exchange (SMX), the two media companies will put inventory into a common pool to provide advertisers with a wider network for campaigns, rather than having to buy directly.
SPH digital division executive vice president Julian Tan says the two leading media organisations are committed to innovate and offer true value to advertisers "facing unprecedented challenges in this digital age".
His opposite number at Mediacorp, chief commercial and digital officer Parminder Singh says all media buyers want greater choice, brand safety and scale: "Trust is paramount for brands."
SMX will commit at least two billion display and video impressions annually across a selection of SPH and Mediacorp platforms, including the websites and mobile apps of the Straits Times, the Business Times, Zaobao, Channel NewsAsia and Today.
The exchange will be launched fully next year and managed by an independent team, for which a chief executive is yet to be hired. The companies will have equal board representation. Other premium publishers may be invited to add their online properties in the future.
The move addresses competition from platforms including Google and Facebook, which are the biggest providers of programmatic advertising in the country.
Pictured: Singapore Press Holdings' Ignatius Low, Elsie Chua, Tan Su-Lin, and Julian Tan, join Mediacorp executives after the signing of a memorandum of understanding (Photos: Shin Min Daily News)