Ad industry forms group to create standards for targeted ads

Major advertisers including Procter & Gamble (PG.N), Ford Motor Co (F.N), and Unilever (ULVR.L), and trade associations have formed a partnership to develop industry standards for targeted ads, the group said on Tuesday.

Addressable advertising, a strategy using data to target consumers based on their interests and demographics, has grown with technology from ad giants such as Alphabet Inc (GOOGL.O) and Facebook Inc (FB.O), but concerns about privacy and the use of consumer data are widespread.

The Partnership for Responsible Addressable Media said any new standards will support “critical” technical functions for targeting ads, while protecting consumer privacy and their experience with media content.

Other partners include major ad agencies such as Publicis (PUBP.PA), Comcast Corp’s (CMCSA.O) NBCUniversal media company and ad tech companies including The Trade Desk (TTD.O).

The group said its principles include consumer privacy as a “foundational pillar” of any new industry standards, and any new solutions being operable across any device, web browser or platform where ads are displayed.