Media Central Corporation (CSE:FLYY) said Thursday that it saw its aggregated programmatic advertising revenue jump 191% year-over-year on the back of solid revenue growth across the company's flagship publications NOW Magazine and The Georgia Straight.
The Toronto-based publishing powerhouse, which has established itself across print and digital platforms, acquired NOW Magazine in November 2019 and The Straight in February 2020. It has strived since to implement digital strategies to transform both publications into profitable media brands.
In spring 2020, Media Central expanded its ad inventory to incorporate more diverse display and programmatic formats and leverage proprietary marketing technology to automate the capture of behavioral data, improve user experience and increase overall traffic.
As a result, Media Central said it has generated more programmatic ad revenue over the last five months, than the publications made throughout 2019. In addition, the average monthly revenue from April 2020 to August 2020 is 372% higher, compared to the previous five-month average from November 2019 to March 2020, said the company.
"The strategic updates we made in early spring to innovate our brand's use of data and other technologies has directly impacted the effectiveness of our platforms in providing advertising solutions for our partners. At the same time, we are leveraging this data to better serve our audience with relevant content. It's a win-win situation," said Media Central CEO Brian Kalish.
"With this latest growth, we are well on the way towards our goal of creating healthy profitable media brands driven by digital advertising revenues."
In layman’s terms, programmatic advertising is the process of using technology to buy and sell ad inventory through automated and data-driven procedures.
In addition to its programmatic advertising initiative, Media Central said it continues to make additional digital revenue from affiliate marketing through its various partnerships. According to the company, brands are increasingly moving to “investing their dollars in digital” as the primary means to reach their customer and are eying new technologies and formats.
“Media Central has an attractive and influential audience of 6.5 million Canadians. We are committed to continuing to transform our channels, providing companies and brands with innovative ways to connect to our highly engaged readers,” said Kalish.
“We strongly believe that the future of our media properties is connected to our ability to pivot to a digital-first monetization strategy."
In the May, the Internet Advertising Revenue Report released by iAB, showed that despite constrained spending due to the coronavirus pandemic digital ad revenue continued to flourish. In the first quarter of 2020, revenue in the US grew to $31.4 billion, a 12% jump, compared to the previous quarter. The report also estimated programmatic ad revenue in the US at $57 billion in 2019, a $9.8 billion increase, compared to 2018. Globally programmatic marketing is likely to touch $147 billion by 2021.
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