Meredith
Corporation MDP, the leading media and marketing
company serving American women, announced today that it has acquired
Selectable Media, a leading native and engagement-based advertising company.
Meredith introduces an updated market positioning and logo that reflect the
strength of Meredith's national and local consumer media brands as well as its
expanded portfolio of marketing solutions.
"The addition of Selectable Media further enhances our ability to offer
clients innovative native and engagement-based advertising solutions across
both Meredith Digital's audience of more than 60 million monthly unique
visitors and Selectable Media's extended media network," said Meredith
National Media Group President Tom Harty.
Selectable Media provides advertisers with a unique way to engage audiences
through native advertising solutions and by providing ad-supported access to
content that is most relevant to the lives, interests and passions of
consumers. Selectable Media's ad products are cross-platform – including
tablet, mobile and desktop – and enable marketers to reach consumers wherever
they consume content in a way proven to drive better engagement. Selectable
Media's impressive client list includes companies such as Merck, Capital One,
GEICO, PetSmart, Del Monte and Chipotle.
"With its unique ability to deliver 100 percent viewable and engagement-based
video and native advertising to real audiences, Selectable Media deepens our
ability to provide marketers with an unparalleled suite of industry-leading
and large-scale branded content creation, distribution and optimization
solutions, " said Jon Werther, President of Meredith Digital. "The
combination of our branded environments, high-quality and engaged audience,
rich first-party data and ad technology platforms continues to enable us to
materially improve advertising results for clients throughout the purchase
funnel – from brand awareness to guaranteed lifts in sales."
As part of the acquisition, Selectable Media Chief Executive Officer Matt
Minoff will oversee Meredith Digital's ad products and operations and Chief
Operating Officer Marc Rothschild will oversee all of Meredith Digital's
advertising sales, sales marketing, and account management teams. They will
report to Werther and be based in Meredith's New York offices.
"We are excited to become a part of Meredith's best-in-class digital media
business, and are looking forward to unlocking new revenue categories and
opportunities that can leverage its rich content, audience and consumer
database," said Minoff. "Marrying Selectable Media's proven success in
digital video and branded content distribution with Meredith's expertise in
branded content ideation and creation provides an incredible end-to-end
solution for our advertising and marketing clients.
The addition of Selectable Media follows a series of acquisitions and
expansions by Meredith Digital including:
o The acquisition of Allrecipes.com, the world's largest digital food
content destination.
o An agreement with Martha Stewart Living Omnimedia to operate
MarthaStewart.com, Marthastewartweddings.com and the Martha Stewart video
content library.
o The acquisition of Mywedding.com, a top wedding website and ad platform
that features a complete wedding planning suite, and offers national and
local merchants targeted advertising opportunities.
o The expansion of Meredith's audience-targeting and private programmatic
operations creating opportunities for marketers to reach Meredith's
audiences using first-party premium data and content.
"We continue to look for strategic acquisitions, partnerships and investment
opportunities like these to expand our reach, augment our real-time targeting
capabilities, drive improved advertising performance and create additional
shareholder value," said Meredith Chief Development Officer John Zieser.
The acquisition of Selectable Media will not have a material effect
on Meredith's fiscal 2015 financial performance. Meredith will provide more
detail when it reports its fiscal 2015 second quarter results on January 28,
2015.
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