History of Revenue Management
Revenue Management as a practice was popularized in 1980 by the airline industry and then slowly adopted by hotels, retail, manufacturing, and many other industries. The Revenue Management as a practice came into effect when the Airlines Industry was struggling to make profits and was trying to find ways and means to optimize every aspect of their revenue thereby resulting in revenue management. The primary purpose of revenue management is to maximize revenue for the seller.
Revenue Management for Media Companies
In the media industry, publishers are the main sellers who sell advertising inventory to advertisers. With advertising being the primary source of revenue, it becomes imperative for media companies to manage the revenue aspect holistically. Like Airlines, Media publishers also have defined perishable inventory that needs to be sold for publishers to run a profitable media business. Similar to Airlines, where any unsold seat is lost revenue, any unsold ad inventory is also lost revenue. Revenue Management as a practice has evolved significantly in other industries and the media industry has been trying to catch up due to ever-increasing complexity in the ad tech ecosystem.
To maximize revenue, publishers need to maximize overall revenue across all the products sold across all the channels. To do that, publishers should have complete visibility into the revenue across channels at a more granular level and also be able to manage the different levers that will impact the publisher’s revenue.
Publishers must have the following key components in their portfolio for them to effectively manage revenue.
Omni Channel Order Management
- Direct Sales
- Programmatic Sales
- Private Market place
Streamlined Advertising Operations
- Push to multiple ad servers
- Integrations with Ad Servers
- Integration with Ad Exchanges
- Integration with Third-Party Platforms for Viewability/Ad Fraud/Brand Safety
- Optimize your product and pricing by channel based on forecasting
Unified Billing & Payments
Single Platform to manage and view all your invoices
A single platform to manage and view all your payments
Symmetriq is an Omni Channel Revenue Management platform allowing you to unify inventory, manage quote to cash, and maximize revenue across OTT, Digital, Linear, and Print in a Single Cloud-Based SaaS Advertising Revenue Management platform. Symmetriq was born out of the need to provide tools, technologies, and platforms to enable media companies to manage and run a profitable advertising business. Our omnichannel revenue management platform is built natively on the cloud with the latest web technologies with the scale being the primary driver without compromising on security and compliance which has become paramount in the current privacy driven world.
We help leading publishers across the globe manage their complex advertising business in a single platform enabling them to run a profitable media business. For any queries, please reach out to [email protected].