We went from 8-tracks to iPods, snail mail to email, the VCR to the DVR. These are just a few examples of industries that have been completely changed by innovation. History clearly shows that inefficient marketplaces are ripe for transformation. And that’s what we’re focused on here at Yahoo!. We plan to forever change the way advertisers, publishers, agencies, and ad networks interact with one another in order to serve ads that are relevant and effective.
We’re popping the hood today on a new advertising management platform, AMP! from Yahoo! (you might have seen it referred to as Project Apex). It's been under development for some time now by an army of engineers, product strategists and managers, and user-interface design experts — all intimately familiar with the online advertising industry. They understand the pain the industry currently feels in how things are done.
Here’s the core premise that’s fueled this new platform: Online advertising is growing increasingly sophisticated, yet it’s unnecessarily Byzantine to buy and sell. The online media landscape is incredibly fragmented. And, today, the process of finding your target audience, booking inventory, negotiating pricing, seeking approval, creating tearsheets, testing ads — it’s living in an 8-track world. Let’s just say people are doing a lot more faxing and phone calling than should be necessary in 2008. It’s terribly inefficient.
AMP! will not only automate all of these processes and take the cycle time down from weeks to minutes, it will enable a new, more open paradigm, taking participants from private walled gardens to a new world where they will be able to buy and sell across the entire Web – all in one interface, with a few clicks of a mouse. It’s like a stock market for ads — the more efficient the marketplace, the more value in it. The impact is hard to overstate. This is simply not possible today and we think that’s really hobbling the industry’s ability to focus on what matters most — developing great creative and getting it front of the right person.
We recently previewed AMP! for our partners in the Newspaper Consortium and there were “ah ha!” moments visible across the room, with execs throwing out comments like “blown away,” “revolutionary,” and they even put “sexy” and “ad serving” in the same sentence.
AMP! from Yahoo! is real. We will start rolling the platform out in phases beginning next quarter, and will open it up for additional publishers as well as advertisers, agencies, and ad networks throughout the rest of 2008 and into next year. And you can see what the newspaper execs were so excited about by checking out this short video: