Leading global companies work to strike balance between digital and traditional advertising
Industry experts point to 2H 2024 for AdTech and Media IPO market to strengthen
NEW YORK, Dec. 12, 2023 (GLOBE NEWSWIRE) -- PRISM MarketView, a leading provider of unbiased market insight and company news, today announces the launch of its PRISM Emerging AdTech and Media Index. With a finger on the pulse of the digital media revolution, the PRISM index is tracking emerging companies making a mark on the adtech and media industries.
As the internet, social media, and advanced data analytics have revolutionized marketing, brands of all sizes are working to strike a balance between investing in digital media and maintaining a position in traditional advertising.
The number of deals for global tech, media and marketing companies has increased by 2% year-over-year, significantly lower than levels reached in 2021, according to Canaccord Genuity. Industry experts have pointed to the second half of 2024 when the AdTech and Media IPO market is expected to open up again.
PRISM MarketView reviewed a handful of companies transforming the AdTech and Media landscape in 2023.
Altice USA, Inc.
Altice and its subsidiaries provide broadband communications, video and mobile services in the United States, Canada, Puerto Rico, and the Virgin Islands. In Q3 2023, the company missed revenue targets, reporting total revenue of $2.32 billion, down -3.2% year-over-year, and free cash flow of $121 million. In spite of a challenging macroeconomic environment, Altice has been accelerating the pace of network rollouts with an improvement in broadband subscribers, mobile net additions and fiber customer growth.
fuboTV, Inc.
fuboTV Inc. operates a live TV streaming platform for live sports, news, and entertainment content in the United States and internationally. Its fuboTV platform allows customers to access content through streaming devices, as well as on SmartTVs, computers, mobile phones, and tablets. The company’s shares rose after it reported better than expected revenue in early November. Investors rewarded fuboTV for strong quarterly sales of $313 million and US sales which surged 43% year-over-year. The company’s 2023 is expected to reach $1.32 billion, up from the $1.27 billion previously guided.
Gray Television, Inc.
Gray Television is an American media company that owns, broadcasts, and operates television channels. It expanded its studio portfolio this month with the opening of a 135-acre facility in Georgia. Also in November, Grey Television reported strong revenues and lower expenses for the third quarter 2023, including total revenue of $803 million.
Specificity, Inc.
Specificity is a digital marketing agency providing services including location and search, and criteria targeting services; and device ID extraction and programmatic display services. The company’s mission is to be an industry disruptor and to that end, in October, it acquired AImplify, a cutting-edge AI-powered solution. Specificity has developed tools to enable successful marketing campaigns through precision targeting.
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