In a significant development, major advertisers, including Procter & Gamble, Ford Motor Co, and Unilever, and trade associations, have formed a partnership to develop industry standards for targeted advertisements.
Targeted ads, a data driven strategy used to target consumers based on their interests and demographics, have growth phenomenally thanks to tech giants such as Alphabet Inc and Facebook Inc; however, there is growing concern over privacy and the use of consumer data for commercial purposes.
In a statement, the Partnership for Responsible Addressable Media, said any new standards will support “critical” technical functions for targeting ads, while protecting consumer privacy and their experience with media content.
Its partners include major ad agencies such as Comcast Corp’s NBCUniversal media company and
Publicis, as well as ad tech companies including The Trade Desk.
The group said its principles include consumer privacy as a “foundational pillar” of any new industry standards, and any new solutions being operable across any device, web browser or platform where ads are displayed.