Videology

Videology
Private
Industry Advertising and Software
Founded 2007
Founder Scott Ferber
Headquarters New York City
Area served
 Global
Key people
 Scott Ferber, Chairman and CEO
Products Video advertising software
Number of employees
 400
Website www.videologygroup.com

Videology is an advertising software company based in New York City. It was founded in 2007 as Tidal TV and launched a Hulu competitor in 2008. In 2012, it was rebranded as Videology and now develops software that sends ads to specific demographics within an audience of video viewers, performs analytics, and other functions.

History

The idea for Videology was conceived in 2006 when founder Scott Ferber heard AOL Time Warner CEO Jeff Bewkes express concern that distribution of television content online might reduce cable subscriptions.[1] Videology was initially founded to develop software to stream television programming online.[2][3] The company officially began operations in 2007 under the name Tidal TV.[4] It was founded in Baltimore by Ferber.[5] In its first year of operation, Tidal TV raised $15 million in venture funding.[2] Beta testing of its video streaming software began in 2008.[2][3][6]

In June 2008, the company launched a free television-watching site that competed with sites like Hulu and Joost.[7] According to US News & World Report and Read Write Web, the website had a good selection of channels and ran smoothly, but was not well-known.[3][7] At the time Hulu was still in beta[3][7] and shortly afterwards introduced a user interface similar to Tidal TV's.[8] Tidal TV served 84,000 viewers in its first month, compared to Hulu's 9.7 million viewers during the same time period. However, Tidal TV continued to expand its programming and staff.[8] By 2009, it was selling specific demographic audiences to advertisers using algorithms and analytics.[9] The company had just 40 employees in 2010 and 80 by 2011. Another $30 million in funding was raised in March 2011[10] and by 2012 it had $200 million in revenues.[11][12]

In 2012 Tidal TV was renamed to Videology.[5] With the rebrand, it introduced new software products for content publishers selling advertising.[5] Later that year it acquired an advertising marketplace, LucidMedia, for an undisclosed sum, and a data management company, Collider, for $13.2 million.[13] Videology raised another $60 million in 2013, reaching a total of $120 million in funding.[14] By 2014, it had operations in 28 countries, up from three in 2011.[11] In 2014, Videology said half of its revenues were coming from television advertising budgets and it created a TV division within the company.[15] Its headquarters were moved to New York City in August 2016.[4]

Software

Videology develops software for advertisers, content publishers and viewers that uses algorithms and analytics to target different demographics with different ads while watching television programming or other digital video content. Advertising space for targeted demographics is then sold at a premium.[4][16] Its revenue model is a mix of software licensing and deals where it is paid a percentage of advertising spend.[12] According to the company's website, it sells software products for advertising analytics, optimization (revenue and scenario planning), and management respectively.[17] Its software is integrated with AT&T[18] and Adobe[19] advertising systems to allow advertisers to send custom ads to different demographics. The software is also licensed by Canadian broadcasters Bell Media and Rogers Media.[20][21]

History

Videology released an update called Descartes in 2013, which introduced a new user interface, as well as more advertising management and targeting features.[22] In 2014, it announced a partnership with Mediaocean in order to integrate Videology software with Spectra, a common software application used by advertisers to shop for placements.[23] In January 2016 Videology added data from third-party vendors DoubleVerify, Integral Ad Science and Moat, to verify the number of people viewing an advertisement[24] and allow advertising to be purchased based on the number of verified impressions.[24] In April 2016, Videology increased its use of Nielsen data. Videology's data is matched to Nielsen's in order to observe the behavior of audiences across television and internet mediums.[25]

Operations

The company publishes a quarterly "U.S. Video Market At-A-Glance" report, based on data from the advertisements running on its software.[26][27][28]

See also

References

  1. ↑ "Scott Ferber's Videology Is Building The Platform for Converged TV and Digital Video". Forbes. March 18, 2014. Retrieved March 11, 2016.
  2. 1 2 3 Jaffe, Maayan (August 15, 2008). "Wave of the Future". Baltimore Jewish Times. pp. 28–29.
  3. 1 2 3 4 "TidalTV Stealthily Launches Public Beta". readwrite.com. June 11, 2008. Retrieved March 11, 2016.
  4. 1 2 3 Sun, Baltimore (November 17, 2014). "Videology hires new CFO with eye toward stock offering". The Baltimore Sun. Retrieved March 9, 2016.
  5. 1 2 3 O'Malley, Gavin (January 28, 2016). "TidalTV Becomes Videology, Pushes Tech". MediaPost. Retrieved March 11, 2016.
  6. ↑ Bishop, Tricia (June 10, 2008). "Web innovator back for 2nd act". The Baltimore Sun. Retrieved March 11, 2016.
  7. 1 2 3 LaGesse, David (June 11, 2008). "Site Launches Online TV for Couch Potatoes". US News & World Report. Retrieved March 11, 2016.
  8. 1 2 "TV Guide For The Internet". Forbes. September 26, 2008. Retrieved March 11, 2016.
  9. ↑ Goetzl, David (October 6, 2009). "Addressable Ads: GroupM Taps TidalTV". MediaPost. Retrieved June 20, 2016.
  10. ↑ Lawler, Ryan (March 31, 2011). "Video Ad Firm TidalTV Raises Another $30 Million". Gigaom. Retrieved March 11, 2016.
  11. 1 2 Richards, Katie (September 16, 2014). "Online Video Advertising Provider Videology Is On Track To Hit $300 Million In Revenue This Year". Business Insider. Retrieved May 26, 2016.
  12. 1 2 Edwards, Jim (March 29, 2014). "Videology Is 'Preparing' For An IPO In 2015". Business Insider. Retrieved March 10, 2016.
  13. ↑ Shields, Mike (October 2, 2012). "Videology Nabs LucidMedia". AdWeek. Retrieved March 10, 2016.
  14. ↑ "Videology Channels $60M to Aid Transition to Digital Video Advertising". Venturewire. May 28, 2013. Retrieved March 10, 2016.
  15. ↑ Shields, Mike (October 20, 2014). "Web Video Ad Tech Firm Videology Opens TV Practice". The Wall Street Journal. Retrieved May 26, 2016.
  16. ↑ Huang, Tianning; Callaway, John; Oliver, Brittany; Peck, Kristofer; Gillen, John; Bleam, Parker; Scherer, William T. (2014). "2014 Systems and Information Engineering Design Symposium (SIEDS):Videology and the future of online video advertising": 172–176. doi:10.1109/SIEDS.2014.6829907. ISBN 978-1-4799-4836-9.
  17. ↑ "Products: Videology". Videology. Retrieved March 11, 2016.
  18. ↑ Shields, Mike (January 11, 2016). "AT&T Plans to Sell Linear TV Programmatically". The Wall Street Journal. Retrieved March 9, 2016.
  19. ↑ Liyakasa, Kelly (December 4, 2015). "Adobe And Videology Tackle Streaming Video Sales Hurdles". AdExchanger. Retrieved May 26, 2016.
  20. ↑ Elkin, Tobi (May 19, 2016). "It Was A Banner Week For Canadian PTV Deals". MediaPost. Retrieved June 10, 2016.
  21. ↑ Liyakasa, Kelly (June 7, 2016). "Canadian Broadcaster Bell Media Banks On Premium Programmatic". AdExchanger. Retrieved June 10, 2016.
  22. ↑ "Videology rolls out Descartes product to unify video planning and management for RTB and non-reserved media". The Drum. July 11, 2013. Retrieved May 26, 2016.
  23. ↑ Shields, Mike (November 19, 2014). "Mediaocean and Videology Partner, Look to Merge Web Video and TV Ad Markets". The Wall Street Journal. Retrieved May 26, 2016.
  24. 1 2 Marvin, Ginny (January 26, 2016). "Video Ad Platform Videology Adds Ability To Buy Viewable Impressions Verified By Third-Party Vendors". Marketing Land. Retrieved March 15, 2016.
  25. ↑ Levine, Barry (April 25, 2016). "Video ad platform Videology now utilizes Nielsen data for combined online/TV targeting". Marketing Land. Retrieved June 10, 2016.
  26. ↑ "Advertisers Tapping TV Data for Digital Video". Response Magazine. July 24, 2015. Retrieved March 15, 2016.
  27. ↑ "Videology report: advertisers doubling down on digital video with TV data". The Drum. February 23, 2016. Retrieved March 15, 2016.
  28. ↑ Malone, Michael (March 15, 2016). "More Advertisers Using TV Data for Digital Video". Broadcasting & Cable. Retrieved March 15, 2016.
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