See How Pattison Media Unlocked Data Monetization for the Media Industry with Fastloop

Pattison Media, a well-known name in Canada’s media industry, has been in business for over five decades. With nearly 50 radio stations, dozens of digital publishing sites, and multiple TV stations, the company has a massive presence in the Canadian market. However, like many other traditional media companies, Pattison Media also faced challenges from the rise of online advertising, data-driven marketing, and social platforms.

One of the biggest challenges for traditional media companies is attribution – connecting real business results to advertiser spend. To tackle this issue, Pattison Media needed to think differently about radio and turned their focus to measurement, reporting, and real business results. They partnered with Fastloop to design and implement a data platform strategy across their entire media portfolio.

Turning a Traditional Media Giant into a Data-Driven Organization

Fastloop streamlined Pattison Media’s operating systems and combined them with an integrated-media sales model, opening doors for growth across multiple new channels. One of the core pillars of this transformation was merging all operational systems and infrastructure into a cloud-based ecosystem. This data-first strategy enabled Pattison Media to create an entire new attribution, data, and insights platform called Validate.

Validate is a unique product that leverages minute-by-minute listening and streaming data and a myriad of other digital data inputs to track listener response to client ad campaigns. It provides metrics that allow radio stations to provide proof of performance in a credible way. Validate was officially launched by Pattison Media in early 2022 and is being marketed to the advertising industry, resulting in new revenue from data monetization and an innovative new product offering for Pattison Media.

Rod Schween, President of Pattison Media, said, “We wanted to make strategic investments that would bring our business through this pandemic with a strong competitive differentiation. With Fastloop’s support, we conquered the attribution code for Pattison Media. Next, we want all radio broadcasters to benefit from the Validate platform.”

Fastloop’s data integration work also resulted in other wins for Pattison Media, including better business insights from the new connected data ecosystem, revitalized traditional sales channels with bespoke digital services, and enabling meaningful results-oriented conversations with current and potential clients.

Enabling Data Monetization for Pattison Media

Pattison Media's new data platform approach not only helped the company overcome the challenges of traditional advertising channels but also enabled it to create a new revenue stream through data monetization.

Data monetization is the process of generating revenue by converting data into an asset that can be sold, licensed, or used to create new products or services. This can take many forms, such as selling data to third-party companies, offering targeted advertising based on consumer data, or using data to create entirely new revenue streams.

Data is becoming increasingly valuable to businesses as it allows them to make better decisions, improve customer experiences, and gain a competitive edge. As a result, many companies are looking for ways to monetize their data to generate additional revenue and create new business opportunities.

The level of data granularity Validate unlocks not only helps advertisers understand the impact of their campaigns but also provides valuable insights to Pattison Media. By aggregating and analyzing this data, Pattison Media can create custom audience segments and offer targeted advertising opportunities to its clients, thus monetizing its data assets.

Furthermore, Pattison's investment in data infrastructure and the deployment of the Validate platform have enabled the company to offer new digital services and provide better business insights, resulting in tighter campaigns and better-informed staff. This, in turn, has allowed Pattison Media to claim a definitive edge in a highly competitive environment and attract new clients that haven't traditionally purchased radio advertising.

Embrace the Future of Business with Data Monetization

Overall, Pattison Media's data-driven approach has enabled the company to not only overcome industry challenges but also create new revenue streams and monetize its data assets, demonstrating the value of data as a key driver of business growth and success. Data monetization is an important strategy for businesses to unlock the value of their data assets and drive business growth and innovation, but it requires a robust data strategy and infrastructure, as well as the ability to analyze and extract insights from data. Successful data monetization requires a balance between protecting customer privacy and using data in a way that creates value for both the business and its customers. That’s where a data integrator like Fastloop can help. If your organization is looking for a data monetization solution, or just wants to explore how you can unlock the power of your data, get in touch with our team of experts today!