AdExchanger Podcast Summary: "Maybe Nielsen Is The Alternative Currency"

Release Date: June 3, 2025
Host: Allison Schiff
Guest: Peter Liguori, Executive Chairman of Videoamp

1. Introduction to the Episode

In this insightful episode of AdExchanger Talks, host Allison Schiff engages with Peter Liguori, the Executive Chairman of Videoamp, to delve into the evolving landscape of TV measurement and advertising currencies. Released on June 3, 2025, the discussion centers around the challenges and opportunities presented by Nielsen's introduction of its Big Data Plus Panel product as a new currency in the TV advertising ecosystem.

2. Peter Liguori’s Background and Videoamp’s Role

Allison begins by highlighting Peter’s extensive experience in the media industry, noting his previous roles as President and CEO of FX Networks and Chairman of Entertainment for Fox Broadcasting Company. Peter transitioned to Videoamp in January 2024 amid significant company restructuring, including a 20% workforce reduction. Under his leadership, Videoamp has been pivotal in navigating a transformative year for TV advertising measurements.

Peter Liguori [02:33]: "Probably that I am a die-hard sports fan and none of my teams have won a championship in decades."

3. Alternative Currency vs. Nielsen

A core part of the conversation revolves around the term "alternative currency" used to describe Videoamp's measurement system in contrast to Nielsen's long-standing dominance. Allison challenges the terminology, suggesting it inherently positions Nielsen as the default or "god-like" metric, similar to atheism's relation to belief in God.

Allison Schiff [03:20]: "What do you think of the term alternative currency?… It always references Nielsen."

Peter concurs, advocating for the term "multi-currency universe" to emphasize that multiple measurement standards can coexist, each with unique strengths.

Peter Liguori [04:27]: "I think the turn of phrase should be a multi-currency universe, plain and simple, that all of them have their own merits."

4. Challenges of Transitioning to Big Data in TV Measurement

The discussion shifts to Nielsen's rollout of its Big Data Plus Panel, which aims to integrate device data with traditional panel metrics to enhance TV audience ratings. However, the implementation faced data glitches just before the upfronts, leading to industry skepticism.

Peter Liguori [07:54]: "If you're the captain of the Titanic and you have the option to turn, I think these people should be turning."

Peter criticizes Nielsen’s attempt to shift from a small panel (42,000 homes) to a broader data-driven approach (40 million homes and 65 million devices), arguing that Videoamp’s method offers higher fidelity and greater audience insights.

5. Multi-Currency Universe Proposal

Peter advocates for a multi-currency system in TV measurement, arguing that relying solely on Nielsen's metrics limits the industry's ability to fully capture audience behaviors and ad efficacy. He emphasizes the financial implications, stating that significant advertising dollars are left on the table due to inefficiencies in the current single-currency model.

Peter Liguori [10:41]: "You are leaving money on the table… an additional $8 billion that could potentially be used toward the studios monetizing their content better."

6. Adoption and Inertia in the Industry

Allison probes into why many brands and agencies resist adopting advanced audience measurement tools despite evident inefficiencies. Peter attributes this to habitual reliance on Nielsen and the fear of disrupting established systems.

Peter Liguori [11:12]: "The father of American psychology is a guy named William James and he wrote habit is the flywheel of society."

He argues that industry leaders fear the repercussions of deviating from Nielsen, as utilizing alternative measurements could jeopardize their positions.

Peter Liguori [14:06]: "Why would you spend a dollar on something broad that's saying, you know, men and women 25 to 54 with college educations?… you’d be wasting 90% of your money."

7. Legal Battles with Nielsen

The conversation touches on Nielsen’s aggressive stance against competitors through patent infringement lawsuits, including cases against Videoamp and TV Squared Metrics. Peter views these legal actions as tactics to stifle competition and maintain Nielsen’s market dominance.

Peter Liguori [31:37]: "They are able to pay for the lawsuits. They're able to pay for MRC… It keeps the monolith’s iron grip on having a single currency."

He expresses frustration over how these lawsuits divert resources and hinder innovation within the industry.

8. Videoamp’s Company Culture and Growth

Allison inquires about the internal challenges Videoamp has faced, including layoffs and cultural criticisms. Peter emphasizes the importance of transparency and performance-oriented culture. He explains how the company channels competitive instincts towards business success rather than internal dysfunction.

Peter Liguori [40:03]: "We've channeled… put it toward business results. We have a performance culture. We will hold people accountable."

He underscores the shift from a startup mentality to a client-focused, efficiency-driven organization.

9. The Future of Linear TV and Cross-Platform Measurement

Addressing the decline of linear TV, Peter provides a balanced perspective. While acknowledging a gradual decrease in linear viewership, he points out the enduring value of live events like the NFL and NBA Finals, which remain significant revenue drivers.

Peter Liguori [24:08]: "Still a lot of people… a good 80 plus percent of all ad sales dollars comes from broadcast TV."

He envisions an evolution rather than a revolution in TV consumption, advocating for comprehensive, cross-platform measurement to maximize content monetization.

Peter Liguori [27:43]: "It's inevitable that streamers will wind up being the majority… old habits die hard."

10. Lightning Round: Quick Insights

In a playful segment, Peter participates in a lightning round, offering concise responses to rapid-fire questions. Highlights include:

• Most Dysfunctional Aspect in TV Measurement: "Spray and pray with demos." [47:04]
• Element to Take from Nielsen’s Playbook: "Their market share." [47:25]
• More Challenging Task: "Convincing more advertisers to trust a new measurement currency." [47:41]
• Most Overrated Metric in TV Ad Measurement: "GRPs." [47:53]
• Current Streaming Shows: "Friends and Neighbors." [48:02]
• Favorite Guilty Pleasure TV Show: "Last Man Standing." [48:21]

11. Concluding Thoughts: Cross-Platform Measurement Challenges

In the final discussion, Peter identifies the collective will of the industry as the primary obstacle to achieving true cross-platform measurement. He recounts the challenges faced during the airing of the show "24", where delayed viewership data negatively impacted ad revenue.

Peter Liguori [49:08]: "I do not need to be doing something with the answer so frequently is no. First, the answers are yes."

He advocates for the adoption of multi-currency systems to enhance measurement accuracy and ensure advertisers receive value commensurate with their investments.

Peter Liguori [52:40]: "I'm not saying this from a financial basis, I'm saying this from an age and experience basis."

Peter concludes with a vision of an industry where both content creators and marketers benefit from precise, data-driven measurement tools, ultimately leading to more effective storytelling and advertising strategies.

Notable Quotes with Timestamps

• Peter Liguori [04:27]: "A currency is nothing more than what a buyer and a seller agree upon is the value."

• Allison Schiff [11:12]: "Is inertia? Is it laziness? Is it fear? What's happening."

• Peter Liguori [19:37]: "It's going to be messy."

• Allison Schiff [27:32]: "A lot of people say it's not even on their radar screen."

• Peter Liguori [34:29]: "These are tactics to stifle competition and maintain Nielsen’s market dominance."

Conclusion

This episode of AdExchanger Talks offers a compelling exploration of the current state and future of TV advertising measurement. Through Peter Liguori's expert insights, listeners gain a deeper understanding of the limitations of traditional metrics, the necessity for diversified measurement systems, and the strategic shifts required to optimize advertising investments in an increasingly fragmented media landscape.