Display Technology

Place Exchange expands DOOH services with patent

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August 25, 2021

Place Exchange, a company that produces supply-side platform for programmatic OOH media, was granted a "systems, methods and programmed products for tracking delivery and performance of static advertisements in public or semi-public locations within a digital advertising platform" patent issued by the U.S. Patent and Trademark Office. This marks the fifth patent awarded to Place Exchange in the U.S., along with several patents pending internationally, according to a company press release.

Place Exchange aims to make OOH programmatic for buyers and sellers.

"Place Exchange took a different approach, fundamentally re-conceiving the OOH medium from the ground up through a programmatic lens," Ari Buchalter, CEO and Founder of Place Exchange, said in the release. "We developed and patented truly unique technology that enables buying OOH using the same workflows, the same impression-level data, and most importantly the same measurement and attribution, as for other digital channels such as online and mobile. That means campaigns can be seamlessly set up in the same DSP systems used for other programmatic channels, and the same metrics can be measured for OOH via the same reporting used for other channels - not just impressions, spend, and CPMs, but conversions, CPA, and ROI."

This latest patent, valid until 2040, extends Place Exchange's unique programmatic capabilities to apply not just to DOOH media, but to static OOH media as well.

"Our previous patents focused on revolutionizing the way DOOH media is transacted and measured, but static OOH still represents the majority of spend in the category and is an incredibly effective way to reach consumers in public space at scale with high-impact messaging," Buchalter said. "While the mechanism for delivering static OOH ads isn't programmatic, the tracking of impressions delivered and the resulting consumer actions, such as online or offline purchases, absolutely can be and that's the breakthrough innovation behind this latest patent in our portfolio."

The patent helps Place Exchange's DSP partners to leverage campaign tracking and attribution measurement for static OOH across Place Exchange's network of premium OOH inventory spanning various formats, including billboards, street furniture, transit media, airport media, retail media, and more.

"The various patents we have been issued in the U.S. and abroad not only protect our distinctive IP from use by current or future competitors," Buchalter said, "but form the basis of an entirely differentiated approach to enabling OOH to participate in omnichannel media buying and measurement as no other technology has done."

Place Exchange, founded in 2018, is based in New York City.