The Ministry of Economic Affairs has decided to support Adoptiq by approving an Innovation Grant. This grant is intended to support innovative and technological ideas that help the Netherlands advance in a technological, economical and social sense.
However, should a print ad platform, which often elicits a response of “Doesn’t that exist already,” be counted among this group of ideas? Definitely! The digitisation of the trade principles of print is an ingenious technological feat. Just consider the work involved in dynamically offering and organising all possible print ad formats during a process of buying, bidding, underbidding, options, private deals and promotions. That does not even include the necessary algorithms and intelligence needed to align the trade in print with the latest trends and technologies.
This however, was not the only reason behind the approval of the Innovation Grant. Another important motivation was our vision about why our platform has real value.
From the very first newspaper advertisement, published around the year 1700, print was the foremost advertising medium for a few centuries – until the dawn of the twentieth century. New and other forms of media became increasingly popular: outdoor, radio, television and later the internet. This naturally changed the market position of print and revenue figures are still dropping to this day.
Nevertheless, printed media still offer truly independent journalism, which sees writers conducting their research with care and attention and recording their findings in ink on paper. They create content that both television and the internet cannot do without. In the words of John Oliver, “The media is a food chain which would fall apart without newspapers” (link). These journalistic efforts have been made possible for over 300 years because of revenue streams generated by advertisements. These streams are drying up, unfortunately. That is harmful to the industry, but certainly also to a society which has to make sense of the world we live in with the help of news articles.
Adoptiq does not pretend to be able to turn the tide. The media landscape is changing and there is nothing anyone can do about that. What we want to do is offer the print industry ways to align itself with the dominant trade principles used in the modern world of media. Once the trade methods are all the same, the focus is shifted back to the inherent strength of the medium itself. In that sense, print has been going strong for 300 years and counting.
Our goal of supporting an important industry with the help of technology is a prominent reason for investors to offer their support to Adoptiq. With these investments, totalling around 4.5 million euros, we will be able to roll out our vision on an international scale in 2017. We are extremely grateful for this opportunity.
Text: Menno Kenter – CEO Adoptiq
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