FreeWheel Introduces its Monetization Rights ManagementTM Technology with Three Major Clients
- Ground-breaking Online Video Ad Management Platform Solves the Problematic Questions of "Who Sells the Ad?" and "Who Gets Paid What?" Across Widely Distributed Online Video
- Joost among Major Video Companies Leveraging MRMTM
- Could this Patent-Pending Technology Ease the Conflict Behind Writers' Guild Strike?
NEW YORK--(BUSINESS WIRE)--FreeWheel (www.freewheel.tv) announced its launch today as it introduced an entirely new kind of online video advertising management technology and named three prominent digital video companies that are already on board. Founded by three seasoned digital media veterans with more than three decades of web advertising experience among them, FreeWheel is the first company to provide complete "Monetization Rights ManagementTM" (MRM). MRM is a complete end-to-end online video syndication ad sales rights and ad management technology which dramatically simplifies the task of managing video ad sales, ad serving, and ad sales rights across widely-syndicated distribution channels.
“A platform like FreeWheel's could go a long way toward assuring greater revenue streams for any party involved in online video advertising, which is one of the greatest growth areas of digital media”
FreeWheel's platform enables online video content owners and distributors to actively manage their inventory allocation, revenue accounting and ad serving aspects of video content syndication. It monitors and clarifies revenue share arrangements as well as who has the right to sell ad inventory, across the potentially huge numbers of videos, partnerships and agreements that content owners and distributors may have in place.
This new technology holds the promise of dramatically increasing the online video category because it eliminates the key stumbling block preventing content owners from syndicating more content and more broadly - the risks and complexities of revenue and inventory management across large number of partnerships.
Freewheel's first three client partners are Joost, a leading online distributor of television programming; Next New Networks, a leading creator of online micro-television networks for targeted communities; and Jumpstart Automotive Media, the leading rep firm for automotive publishers and a unit of Hachette Filipacchi.
"In our world, Joost works with multiple content providers and distributors which creates complex advertising relationships and operational challenges," said David Clark, Executive Vice President/General Manager for Joost. "FreeWheel's MRM system dramatically reduces our unique financial risks, allowing us to maintain control of our sales efforts, maximize our revenue, and optimize our advertising yield."
"Using our system, billion dollar lawsuits and contentious revenue accounting strikes are eliminated," said Doug Knopper, Co-CEO of FreeWheel. "Our MRM solution empowers all partners involved in building audience and selling ads in a widely syndicated ecosystem to achieve maximum revenue."
MRM Patent-Pending Technology Solves Fundamental Challenges
Using Freewheel's MRM, a real-time ad decision is made across all parties in the advertising value chain as to who is allowed to sell an ad and then accounts for value created among them. No matter how many partners are involved or which other ad platforms are involved, FreeWheel eliminates the complexity facing video publishers and content distributors.
"Building a large audience in an online video world requires wide distribution, which in turn changes the game for online advertising management," said Jon Heller, Co-CEO of Freewheel. "With FreeWheel's MRM technology in place, content owners can freely syndicate their content, while still keeping control over their advertising relationships, inventory management, and financial rev share accounting."
Because of this, some industry observers see FreeWheel's technology as a means toward remedying one of the main conflicts behind the Writers' Guild strike, now well into its third month. With the ability to attribute revenue to the value creator and also account for the associated revenue sharing, FreeWheel's technology could conceivably eliminate many of the underlying issues causing the strike.
"A platform like FreeWheel's could go a long way toward assuring greater revenue streams for any party involved in online video advertising, which is one of the greatest growth areas of digital media," said Jack Myers, Editor and Publisher of Jack Myers Media Business Report. "FreeWheel's ability to manage ad sales rights and inventory management across widely syndicated relationships could break the logjams that are holding back this industry's massive potential."
To video content owners, rights holders, and publishers, FreeWheelTM provides the first Monetary Rights ManagementTM platform - a technology solution that dramatically reduces the unique financial risks and operational complexities of video ad serving across syndication relationships. Freewheel combines the innovation of a start-up with the most experienced and talented team of industry veterans. With decades of leadership experience at leading ad serving and monetization companies such as DoubleClick, Yahoo, Adobe, and Visible World, FreeWheel's team is united in the understanding that video is fundamentally different from graphical ad placements and search, and needs a unique solution to deliver maximized revenue with minimal complexity. For more information, please visit: www.freewheel.tv.