May 25th, 2018 – the day the EU’s General Data Protection Regulation (GDPR) came into effect, marked a turning point in the Ad Tech Industry. Cemented on the principles of Data Protection and Empowerment of EU residents’ control of their personal information, GDPR shrouded the Ad Tech Industry with ambiguity on how to comply, yet, thrive.
With a penalty fee of 200 million or 4% of yearly revenue, looming overhead, players in the Ad Tech Industry rushed to become GDPR compliant. However, uncertainty over the legalities and the sparsity of possibilities resulted in many companies shutting operations in the EU.
It has been over a year since GDPR came into existence. While the Industry has yet to fully embrace GDPR, it has learned to adapt to comply. However, there remain key issues that the Industry must resolve to thrive.
The principal pain point levied on the Industry by GDPR is the collection, storage, and usage of data – the fuel on which Ad Tech functions. While GDPR seeks to protect and promote transparency, it beckons the question of possibility in an Industry as diverse as Ad Tech.
The key area where Ad Tech and GDPR collide is the method of collection of data. In stark contrast to the Industry’s ‘Implied’ consent, GDPR demands that the individual be explicitly informed of not only the intent to collect data, but contents collected, its purpose, intermediaries involved, the retention period of data, and any changes thereof. The individual must willingly opt-in to the terms for the transaction of data to be deemed legal.
When asked about the challenges this poses to the Industry, our CEO, Tomer Hen, had this to say, “GDPR is another step in what the Ad Tech industry is trying to tell all its players – provide value or dissolve. Publishers, Platforms, Ad Vendors and Advertisers must evolve to provide more value in exchange for users’ interests and personalize data. The ones who will, thrive as these become higher valuable assets. And those who won’t dissolve or leave the field.”
Technology has been at the centre of Ad Tech’s growth and evolution. It has facilitated new approaches to Ad Targeting which has increased efficiency and outcome. But, will GDPR’s stance on the use of Personally Identifiable Information (PII) be Ad Tech’s undoing?
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Known as Israel’s Mobile Marketing Phenom, Mobco’s founder and CEO Tomer Hen says “There is no secret, my success is just having the courage to do things.”
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Tech now stands on the cusp of yet another revolution that promises to be the game-changer for the Industry – 5G.