ABS-CBN, the country' largest multimedia company, has begun implementing a much more precise and therefore fairer way of charging advertisers to bring about accountability as well as efficiency in the media buying process.

In his speech during the Media Specialists Association of the Philippines (MSAP) 2015 Media Congress, ABS-CBN chairman Eugenio Lopez III said the CPIRP (cost per individual rating point) pricing model is one of the innovations that the company hopes to carry out by May this year.

ABS-CBN is the first TV broadcaster in the country to explore such a pricing model.

Traditional media buying practice in the Philippines is one where we apply a fixed cost regardless of the program performance, he said. Now, that will change with the CPIRP or cost per individual rating point scheme. It is based on the globally accepted and proven CTARP model.

While CTARP refers to cost per target audience rating point, CPIRP defines the cost per individual rating point. Advertisers who set a budget use up their funds according to the set rates and how many individuals or eyeballs are reached by their ads.

Lopez added that precise measurement of audience and consumption is the trademark of this digital age.Similar to websites, wherein the number of unique visitors, their location, what device was used, page views, and time spent on each page can all be measured accurately, CPIRP can do the same for TV advertising.

Lopez said CPIRP rates may vary each day based on the actual number of people reached by a TV show.

We believe that precise measurement is the new norm in ensuring fairness, transparency, and accountability. You pay for what you get, he said.

If we fail to deliver, the advertiser saves his money. But when we hit the top of the chart, everybody wins. The advertiser gets the exposure he desires, the viewer gets to enjoy the shows that give them real delight.

This also impels ABS-CBN to hit the highest possible rating points per time slot at all times.

Lopez said this is all part of ABS-CBN' focus on innovation, which can be seen in the launching of ABS-CBN TVplus, ABS-CBNmobile, and iWant TV in the last few years alone.

But it is only by doing things differently can we serve our evolving, demanding global Filipino consumer, he said.