Fresh off the press…

LONDON - Nielsen Online has been appointed to develop the much-anticipated universal online trading currency which aims to convince major brands to commit more marketing budget to digital.

UKOM (the UK Online Measurement company) and Nielsen have entered preliminary contract discussions regarding the commercial and technical elements of the system, which will be used by brands for planning online advertising campaigns in the UK.

Nielsen beat comScore, GFK and Gemius/IPSOS to land preferred partner status although its has to wait for more consultaton to be confirmed as the provider.

The IPA (Institute of Practitioners in Advertising) and ISBA (Incorporated Society of British Advertisers) will help facilitate discussions between relevant parties in the marketing community, to ensure there is full agreement and budget to make the system a reality.

UKOM was established at the end of last year, after the Joint Industry Committee for Internet Measurement Systems (JICIMS) scheme proved too expensive for media owners to fund.

The initiative was expected to cost £5 million while the revised version will cost around £1m and be rolled out by the start of 2010, Revolution understands.

A final announcement regarding the project is expected in July, in which UKOM

The announcement comes as Mark Cranmer, chairman of UKOM, steps down following his appointment as chief executive of Isobar.

Guy Phillipson, chief executive of the IAB and director of UKOM, is confident the currency will be delivered early next year and praised Cranmer for making 'terrific progress' in aiming to get the currency up and running.

By Elizabeth Clifford-Marsh 29 May 2009, 11:40am

Source: Revolution Magazine.com