Comcast, NBCUniversal, Disney, And Partners Investigate Blockchain Solutions
June 20, 2017, a recently formed division of Comcast Cable, Comcast’s Advanced Advertising Group, announced at the Cannes Lions in Cannes, France, that it will collaborate with media partners including Altice USA, Channel 4, Cox Communications, Disney, NBCUniversal, Mediaset Italia, and TF1 Group to develop the Blockchain Insights Platform.
The technology Comcast plans to develop will leverage blockchain protocols to create an advertising approach which benefits from audience data. This method will change the procedure by which advertisers market products through media, according to president of advertising at Comcast Cable Marcien Jenckes, who said, "Television advertising is an efficient and effective way for marketers and their agencies to reach a large audience, yet today the way advertisers use insights to plan, buy and deliver advertising is limited."
Comcast reports it is in discussion with programmers, distributors, device makers, and marketers across the U.S. and Europe who may assist in the development of the platform, which is scheduled to launch in 2018.
An advantage advertisers will gain from the Blockchain Insights Platform is the capability to match data sets to effectively target customers. Marketing plans that capitalize on targeted audiences can be engaged on a nationwide scale. In addition, data insights may provide to participants access to new revenue streams, given the scale of data reporting that can be verified by a blockchain-backed system.
Comcast has affirmed that consumer privacy will be an innate characteristic of the Blockchain Insight Platform.
"Each blockchain participant’s data would stay in their own systems and they would continue to manage the protection and privacy of their users. The technology includes a series of encryption and rights management layers that would result in a system that lets blockchain participants in the platform ask questions of each other’s data without having to access or take possession of anyone else’s data to get their marketing questions answered."
Comcast Cable Advertising: Comcast Spotlight and Comcast's Advanced Advertising Group, newly created under the oversight of Jenckes, unify television distribution, sales, and advertising divisions alongside technology and solutions.
"This new technological approach would make data-driven video advertising more efficient and consumer data more secure," said Jenckes. "We’ll work with the participants in this initiative to improve ad planning, addressable targeting, execution and measurement, to ultimately create even more value for the television advertising industry."