Millennial Media Inc. (MM), a leading mobile advertising and data provider, recently extended its global footprint with the launch of its new office in Tokyo as it embarks on operations in the Japanese market. With this, the company presently has international presence in London, Singapore, Tokyo, Paris, Hamburg and Jakarta.
The strategic move is aimed to capitalize on the advanced and robust mobile market of Japan and was like a natural progression for Millennial Media after its foray in Singapore in 2011. A solid presence in the dynamic and mature mobile market in Japan will enable the company to unlock significant value for its users across the broader Asia Pacific region.
John Greiner has been entrusted as the Managing Director of the company for Japan, with the primary responsibility of building relationships with developers and publishers to execute effective mobile advertising campaigns for leading brands across the country. With over 18 years of experience of the Japanese market, Greiner brings on board key insights about consumer behavior to leverage its scale, innovative rich media capabilities and industry-leading data asset platform for premium mobile advertising solutions.
Millennial Media expects to augment its revenue from increased market penetration amid stiff competition in the mobile ad segment. The company has developed about 350 million proprietary, anonymous user profiles and more than 39,000 apps operate on its platform. The company reportedly delivers advertising campaigns through more than 7500 distinct device types, out of which almost 20% include non-phone devices like tablets and gaming devices. The company intends to focus its development efforts more on such devices in 2013, and tapping new markets could be of immense significance in this regard.
Millennial Media presently has a Zacks Rank #3 (Hold). Other notable companies in the industry that warrants a look include Omnicom Group Inc. (OMC), Publicis Groupe SA (PUBGY) and The Interpublic Group of Companies, Inc. (IPG).
More From Zacks.com