Montreal, Canada – Programmatic digital out-of-home (DOOH) adtech Hivestack has announced its official membership to Prebid.org, an organisation that oversees open source prebid programmatic advertising solutions.
Through the membership, Hivestack will be able to further support its efforts in driving adoption of an open source unified auction framework for programmatic DOOH and join its peers to help build and shape the ad tech ecosystem.
Prebid.org consists of over 150 members, representing exchanges, publishers, buyers and third-party developers dedicated to creating standardised solutions for programmatic advertising. It manages open source projects Prebid.js, Prebid Mobile, and Prebid Server, as well as other key pieces of technology adopted by thousands of publishers. Prebid.js launched in 2015 to make header bidding easy for publishers by bringing conformity and simplicity to the header bidding process.
In addition to managing this open source technology, Prebid.org also plays an active role in the online advertising ecosystem by being a neutral and independent body that makes it easy for advertising technology companies to work together with publishers to solve problems for the industry.
Mina Naguib, global chief technology officer, said, “We are proud to announce our membership with Prebid.org, an independent organisation designed to ensure and promote fair, transparent, and efficient solutions for our industry. Our membership with Prebid.org comes at an opportune time for our business as we continue to develop our software and launch innovative, industry-first technologies that will benefit the entire ecosystem, such as our purpose-built ‘Yield Manager/Header Bidder’. We are delighted to have joined our esteemed colleagues, peers and partners across the programmatic ecosystem who are all members of Prebid.org.”
Through its new ‘Yield Manager’, Hivestack successfully established a powerful and transparent solution for its publishers, in this case, DOOH media owners, to monetize their inventory effectively across multiple SSPs in a unified manner.
“Much like in the online ecosystem, a header bidding solution replaces the ‘waterfall’ method where inventory is offered to one ad network at a time and then moved onto the next if the floor price isn’t met until all impressions are hopefully sold. Although this process works in practice, publishers risk missing out on revenue because of the lack of real-time competition on each individual ad opportunity. Yield optimization solutions let all partners bid simultaneously in a unified auction framework model,” Hivestack said in a press statement.