Valuing content based on the amount of time consumers spend with it provides a meaningful and  deeper understanding of consumer engagement, beyond the click.
The current model of using click-based metrics has resulted in the industry justifying the value of metrics, rather than the metrics proving the value of products.
Moving to a measurement framework that incorporates time-based metrics aligns valuation of content and advertising with time and attention – finite and fragmented resources – instead of arbitrary standards, and offers solutions to significant industry challenges, which are highlighted below.
Time-based metrics enforce the need for viewability.
Viewability was a first step in the industry’s attempt to solve this problem by requiring ads actually appear onscreen . Viewability continues to create unrest because publishers are realizing they’re losing a percentage of impressions but not getting paid a higher rate for guaranteeing viewability. However, this is a transition issue, which will get fixed if more brand money enters the marketplace.
Time-based metrics create an inventory constraint that will reintroduce scarcity into the market.
The viewability standard, which requires ads to be viewable in order to be considered measurable, laid the groundwork for limiting inventory. Pricing impressions against time will serve as a finer filter to weed out “false” impressions that a consumer doesn’t see and therefore won’t produce results for marketers. Time cannot be manufactured and provides a zero sum game in which quality ultimately garners repeat attention and loyalty.
Time-based metrics realign pricing with quality and reinvigorate context.
These metrics will naturally divert revenue to higher valued content – the content consumers really want to see and engage with. Content providers can then invest in future content and sell on this value, rather than a placement. For example, there are instances where homepage stories are priced much higher than lower article pages, even though those article pages tend to get more engagement through other channels, like social media
Time-based metrics would effectively re-balance value attribution in such instances from advertising placement to advertising context. The result is that content 4 DIGITAL CONTENT NEXT TIME-BASED MEASUREMENT most valued by consumers will bring in the most revenue, whether it appears on the landing page or hidden deep in the archives.
Time-based metrics provide a better measure of advertising success than click-through rate.
A growing body of evidence suggests a strong correlation between exposure and advertising effectiveness metrics. But this brand boost is further amplified by time spent with the ad. Lastly, with length of exposure by definition serving as a more encompassing metric (e.g. one that captures all users), time is a significantly more accurate and robust metric than direct response, which measures behavior of only a fraction of a percent of users. Brand advertising has been constrained by an ad ecosystem built and optimized to measure clicks and actions rather than exposure and engagement.
Time-based metrics work across platforms.
As a universally-accepted standard, time measurement serves as an easily comparable metric that captures consumption and ad performance across a variety of digital platforms and traditional television. Additionally, for certain types of content, time-based measurement presents an effective solution to the challenge of duplicating cross-platform audiences.