Home Business News Consumers profit from their data for the first time

Consumers profit from their data for the first time

by Peter Smyth Tech Journalist
21st Mar 19 7:18 am

Gener8 is launching to enable people to have more control over the online ads they see, and to profit from their own data, a transaction that has until now remained behind closed doors. Our browsing experience is inundated with adverts that are targeted using our personal data, whether it’s the trainers you once clicked on, the theatre you visited, or the holiday insurance you didn’t buy.

These seemingly innocuous ads you see are part of an industry whose numbers are jaw-dropping. Every day, billions of adverts are circulated to users online and the global spend on digital advertising this year alone will exceed $230bn. This makes digital advertising an extremely lucrative business for all involved, except the user.

Users have become tired with endless and irrelevant advertising, leading to a surge in ad blockers. Right now, more than 650m people are blocking ads, and this is increasing by up to 27%yoy. The use of these tools cost the industry over $40bn in lost revenue last year alone. This is where founder Sam Jones saw an opportunity to create a different business model, one that places the consumer at its heart, enabling them to take a share of the advertising revenue and have more control over what they see.

Gener8 is a browser add-on that can be installed in one click, allowing users to select the type of ads they want to see. Each ad that is seen will reward the user with tokens that they can convert into currency and that they can then donate to a charity of their choosing or withdraw into their own accounts. This money has always been exchanging hands between media buyers, advertising agencies and the publishers. Gener8 are simply bringing consumers into the fold.

Sam Jones, CEO and founder of Gener8 said, “Our mission is to be amongst the world’s first brands that enable people to control and monetise their data. We believe we will shake up the advertising industry by putting the consumer first.”

Jones, who previously served as global brand manager for Red Bull added, “New data scandals are emerging every week, this is increasing people’s awareness about the value of their data. We believe we can educate people to value their data and reward them and their causes in the process.”

Jones acknowledges that his business model might alarm publishers, “With 89% of Gener8’s users having previously used ad blockers, Gener8 is, in fact, bringing people back into the advertising eco-system and, as such, benefitting the industry in the long-term.

“We are already engaging in conversations about how we intend to work with publishers keen to move to a more user-approved model: when your consumer values your approach and doesn’t feel exploited, you’re more likely to secure their loyalty.”

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