Discovery buys 10% stake in ad-targeting company OpenAP
Discovery Inc bought a 10% stake in an ad-targeting company OpenAP, whose owners include Comcast Corp.’s NBCUniversal, Fox, and ViacomCBS Inc
• Discovery bout a 10% stake in ad-targeting company OpenAP
• In 2021, Discovery started using the identifier by OpenAP
Discovery Inc bought a 10% stake in an ad-targeting company OpenAP, whose owners include Comcast Corp.’s NBCUniversal, Fox, and ViacomCBS Inc.
Founded in 2017, OpenAP helps marketers to target ads across multiple TV networks in a specific and data-driven way.
OpenAP provides a platform for marketers to reach audiences on TV networks through both ways, including the traditional way of watching TV and the digital way, i.e. streaming platforms.
OpenAP launched an identifier last year to assist advertisers in placing ads more efficiently across TV systems.
OpenAP expects advertisers to buy $500 million of advertising through its platform in the fiscal year ending September 2022, an increase of 140% from the previous year.
Discovery’s relation with OpenAP
In 2021, Discovery started using the identifier by OpenAP and worked with the group on introducing XPm, a way of measuring audiences across different platforms.
“We work with pretty much every national network out there. But we also have networks on the board and at an investor level that are much more involved from a strategic perspective and road map planning,” OpenAP Chief Executive Officer David Levy said.
“I think there was a real interest to further [Discovery’s] involvement and get more deeply engaged in a lot of the strategic discussions that are going on. And we frankly needed and want that insight, because every network has a different combination of challenges.”
OpenAP said it works with more than 100 advertisers.
With inputs from WSJ
Picture Credits: invezz
