VideoByte, VideoBridge in CTV ad merger
November 5, 2021
In a move they say will create a global best-in-class Connected TV (CTV) advertising experience, digital advertising technology providers VideoByte and VideoBridge are merging the two companies The combined company will operate under the VideoByte brand effective immediately and merge full business operations through Q4 2021.
“Our organisations 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 optimisation (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 US. According to a June 2021 report released by BMO Capital Markets, CTV ad spending in the US is anticipated to reach nearly $21 billion in 2021 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,” declared 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.