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AdColony Achieves Record Mobile Video Business Growth, Installs Top Technology and Sales Leadership and Opens New OfficesMike Owen Joins as Chief Revenue Officer; Ty Heath Joins as Chief Technology Officer; Abe Pralle Joins as VP Technology (June 18, 2012)
LOS ANGELES, CA -- (Marketwire) -- 06/18/12 -- AdColony, the leading mobile video solution provider, today announced over 10X mobile video business growth during the last two quarters, the addition of key management team members from Apple and Plasmaworks, and the expansion of new offices.
During the last two quarters -- the fourth quarter of 2011 and the first quarter of 2012 -- AdColony's mobile video sales increased by over 10X in comparison with the same period in Q4 2010 and Q1 2011. Holiday Q4 sales marked a record revenue quarter for the company, which has been in business since 2008. Sales in Q4 achieved a record 9.7X over the prior Q4 2010. Q1 2012 continued that momentum with a 13X growth as compared to Q1 2011, and it marked the third consecutive quarter of record sales for the company. This was an even greater surge than expected, based on forecasts from online video viewership numbers reported by comScore and numerous forecasts predicting that brand investments in mobile video in 2012 and 2013 will continue to swell. AdColony acquired new business and is working with most of the top 10 media agencies, formed a strategic partnership with Horizon Media (include link to previous release), and is working directly with major brands ranging from Scion to 20th Century Fox among others.
According to AdColony CEO, Will Kassoy, "We are thrilled that the pace of our growth and expansion is tracking ahead of industry forecasts for our segment. It validates our brand-centric strategy to provide advertisers with mobile video solutions that are 100 percent focused on enabling the highest quality consumer experience. It also provides us with the capital and credibility we need to expand geographically, establish more strategic relationships with the publishers, brands and agencies we serve, and attract talent from blue-chip brands."
Key talent acquisitions from Apple and Plasmaworks include Mike Owen to the position of chief revenue officer, Ty Heath to the position of chief technology officer, and Abe Pralle to the position of vice president, technology.
Mr. Owen formerly was in Apple's iAd division, leading the National Brand Sales organization based out of New York. His new role is based in Los Angeles and charges him with overall company revenue and sales management and growth.
Said Mr. Owen, "AdColony is delivering rich, fast mobile video experiences to consumers in a mobile video ecosystem that is riddled with speed and quality issues. Video is incredibly powerful for consumers and brands and AdColony's technology is allowing premium publishers to deliver the highest quality video experience to their consumers, which is translating into unprecedented results for advertisers. The post-PC era has just begun, and we have a clear opportunity to change the way consumers think about, and experience advertising on their mobile devices. It's a very big deal."
Heath and Pralle both played founding partner roles at Plasmaworks. In their new roles, the two executives will collaborate with AdColony's executive team and its client base to ensure that the company's technology strategy, roadmap and offerings match the experiential goals of its strategic buyers.
Commenting on the growth of mobile video, Michael Becker, managing director of North America for the MMA, stated, "The era of mobile video is here providing marketers another opportunity to use the mobile channel to reach a direct audience. It's great to see the continued growth of the market and rapid adoption of mobile video, and we look forward to AdColony's participation and collaboration with our members to further advance the market."
During the second quarter, AdColony relocated its Santa Monica headquarters to support company and client growth and added new regional offices San Francisco, and a New York office is in the works.
AdColony is a leading mobile video advertising and publishing platform that plays crystal-clear HD video at lightning speed and drives deep engagement with content. AdColony's proprietary Instant-Play video ad technology serves video ads instantly on the most popular apps in the world across Apple's iOS and Google's Android platforms. Paying only for completed video views, advertisers receive unmatched quality, speed and delivery results. AdColony's reach, targeting and optimization tools and services provide advertisers with a superior way to engage mobile audiences at scale. AdColony's app developer tools and services provide publishing partners with ways to maximize audience and revenue growth while gaining insight needed to continuously optimize content and advertising offerings. AdColony is a privately held company backed by Insight Venture Partners and has offices in Los Angeles, San Francisco and New York. Learn more at www.adcolony.com and follow @adcolony
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