Joint venture to create leading revenue-first video ad serving platform
AUSTIN, Texas, Nov. 4, 2021 /PRNewswire/ -- VideoByte and VideoBridge, leading providers of digital advertising technology, today announced the merger of the two companies creating a global best-in-class Connected TV (CTV) advertising experience. The combined company will operate under the VideoByte brand effective today and merge full business operations through Q4 of this year.
VideoByte and VideoBridge announce merger creating a global best-in-class Connected TV (CTV) advertising experience.
"Our organizations share a similar outlook as we look to further enhance the overall CTV experience," said David Naffis, co-founder of VideoByte. "We are perfectly positioned to increase efficiency in demand-path optimization (DPO) efforts in the CTV ecosystem as audiences and spend continue to shift dramatically from traditional linear TV services to the CTV marketplace. We look forward to providing our industry leading solutions in the market together."
CTV advertising continues to be one of the most rapidly growing markets in the U.S. According to a June 2021 report released by BMO Capital Markets, CTV ad spending in the U.S. is anticipated to reach nearly $21 billion this year and about $100 billion by 2030.
"We are thrilled to join forces as the marriage of our sales and operations leadership with best-in-class technology and product opens a new door for the fresh VideoByte team," said Nick Frazee, co-founder of VideoBridge. "Just in time for holiday campaigns, our technical assets have seamlessly transitioned into more transparency, controls and spend for our agency partners. We are excited to expand our work towards bringing more value to our clients as we draw on our decades of experience."
The combined operation provides a viewer-first experience across CTV and over-the-top (OTT) platforms through data driven advanced technology delivering memorable brand messaging moments for advertisers. The merger brings the newly formed VideoByte to now serving more than 100 direct CTV customers with over 50 active advertisers. Notable partners include AMC, MLB, NFL and Plex. Overall, the goal of the merger is to offer an even higher return on investment for clients and ultimately reimagine the viewing experience for everyone.
"Media16 is uniquely positioned to work closely with the new VideoByte platform to leverage better transparency and campaign management for our growing advertiser base," said Joe Evea, founder of Media16 and VideoByte client. "We look forward to the integration."
Under the new merger, Naffis will operate as CEO and Frazee will undertake the chief revenue officer role. The privately held entity will be headquartered in Austin, Texas, the original VideoByte base, with a satellite office in New York City, VideoBridge's former headquarters. Together, the combined company will serve over 1 billion impressions annually. For more information, go to videobyte.com.
VideoByte is a privately held and operated revenue-first video advertising platform focused on a viewer-first experience across connected TV (CTV) and over-the-top (OTT) platforms. Founded in 2020 with company headquarters based in Austin, Texas, the ad serving platform provides advanced technology delivering memorable brand messaging moments for advertisers at a higher profitability for publishers. As experts in CTV technology, VideoByte is known to provide strong performance for its variety of publisher clients including notable partners AMC, MLB, NFL and Plex. For more information, go to videobyte.com.
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