To some investors the recent news from AT&T (NYSE:T) may have appeared not only pedestrian, but downright predictable. The whole point of its acquisition of entertainment company Time Warner was to become the media and the medium. Indeed, it would have been surprising to owners of AT&T stock if the telecom giant hadn’t regrouped and renamed its ad-selling arm.

Many investors glossed over the news, assuming there was nothing surprising or unexpected about it.

Those investors may want to review the press release again through a more scrutinizing lens.

This new-and-improved advertising platform poses a surprisingly curious threat to the likes of Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), Amazon.com (NASDAQ:AMZN) and even Facebook (NASDAQ:FB).

Xandr and AT&T Stock

It’s called Xandr. The name is an homage to Alexander Graham Bell, who not only invented the telephone but founded the company that would eventually become AT&T. Broadly speaking, Xandr is the evolution of the old AT&T advertising and analytics unit now that Time Warner is in tow.

It’s not just a bigger, cross-selling advertising platform though.

In some regards it’s been the unachievable Holy Grail for consumer-facing technology and media companies.

Alphabet has a highly-granulated profile on all users of its services, including YouTube, and knows what they’re doing and looking for with a mobile device, and knows how that may differ when they’re using a desktop or laptop.

Amazon not only knows exactly what products you purchase (and don’t purchase after looking at them), but knows exactly what video content you consume via its website.

Facebook knows exactly which videos you view in your newsfeed and which ads you click. None of these players has fully figured out yet, however, how to effectively customize the ads individual users see when watching television.

Xandr may be about to change that. As the Xandr website explains:

“With Xandr Media’s Addressable technology, target and serve more relevant ads directly to the right audiences across the largest national addressable footprint. Addressable Video delivers your message to your desired audience – and only that audience – regardless of programming or time of day in both live and playback modes.”

It’s a two-way street too. The platform also makes web-advertising more targeted too, encroaching on Google, Facebook, and even Amazon’s turf. Putting more consumers as well as advertisers in its crosshairs only can strengthen AT&T stock.

Xander and Emerging Tech

It’s admittedly easier said than done. But, with the right technology, it certainly is possible.

The core of the new capability is the combination of AT&T’s advanced TV business called AT&T AdWorks, AT&T’s data and analytics business and AppNexus, the latter of which AT&T acquired in June for $1.6 billion. AppNexus is arguably, in fact, the heart of Xandr, in that it makes the purchase of ad inventory not only programmatic, but data-driven.

It’s not just a matter of technology though. Xandr CEO Brian Lesser explained shortly after the new platform was unveiled, “We have data. We have great content. We have direct-to-consumer distribution, and we have technology.”

And AT&T isn’t simply asking current and would-be advertisers to trust that it can deliver a better-granulated look at 170 million consumers, switching television commercials from one viewer to the next even if they’re watching the same television program. It’s willing to give its proprietary data to advertising clients so those customers can ensure the model is cost-effective.

Advertising customers will even be able to add their own data to the mix.

The kicker: AT&T is even open to the idea of letting other media companies plug into its platform, allowing them to get more bang for their buck.

Bottom Line for AT&T Stock

It’s a game-changer to be sure, but current and prospective owners of AT&T stock may not want to hold their breath in anticipation of an immediate measurable benefit.

It’s such a game-changer, advertisers may not know what to make of the distinctly different approach, skeptical that it’s too good to be true.

In time, however, they’ll be believers. New technologies and the advent of streaming television broadcasts are allowing things that were unthinkable just a few years ago.

And, no other company is in a position to benefit from the introduction of these technologies — technologies that further blur the lines between cable television and the internet — as AT&T quietly is now.

Lesser explains, “The modern media company [has] everything to do with the combination of content, distribution, data and technology. AT&T alone has the components to solve this problem.”

As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can follow him on Twitter, at @jbrumley.