Second-party data is essentially someone else's first party data that you are accessing directly from…
Lotame today announced they saw 460% growth in second-party data adoption globally in 2018.
Second-party data is data sold by its owner in a private 1:1 transaction. With this type of data available, buyers understand exactly where the data is coming from and how reliable it ultimately is. Marketers need assurance as to the quality and precision of the data they buy.
Lotame Syndicate (Syndicate has folded under Lotame PDX), the company’s private second-party data marketplace, has seen a 460% growth in the number of participants since 2017 and an overall increase in global revenue of 273%. This revenue growth is largely thanks to the North America market where revenue grew a whopping 20,044% over the past two years.
North America has seen users increase by 1,200% since 2017. In the APAC region users increased by 300%, and in the EMEA region, users doubled.
On the heels of this growth, Lotame launched the Syndicate online marketplace (Syndicate has folded under Lotame PDX). While Lotame Syndicate has been available for a few years, this new visual marketplace provides buyers with a transparent way to research and vet some of the sellers of second-party data on Lotame Syndicate that have opted-in to showcase their data. Some of the participating global sellers include 180byTwo, AD3+ (Neuron), Advance Local, Connected Interactive, DataXpand, Gulf News, Hexagon, Lonely Planet, MMPWW, Phunware, VerticalScope, Vibrant Media, Viglinks, and Zoopla.
“Second-party data offers the transparency that marketers demand today in a post-GDPR world,” said Jason Downie, Chief Strategy Officer at Lotame. “And we’re seeing publishers take advantage of that. Challenged to compete against the duopoly, publishers are monetizing their first-party data by reselling it on a one-to-one basis. The benefits of second-party data are clearly resonating with marketers and we expect this number to only increase this year.”
In fact, 180byTwo saw a 67% increase in CTR using second-party data purchased through Lotame Syndicate.
“Lotame Syndicate tools allow us to deliver segments in a more agile way than before,” said Karl Hjartarson, CoFounder of 180byTwo. “It’s a great product that allows to move at the speed that our clients expect.”
Launched in 2016, Lotame Syndicate provides a safe and secure peer-to-peer environment for data owners and buyers to directly discover and size target audiences, free from the inefficient and costly process typically associated with third-party data providers and aggregators. Syndicate offers unique capabilities in the industry such as Syndicate:Direct which allows DSP buyers who aren’t Lotame platform customers to buy second party data directly from Lotame partners who are.