Increasing its full-year forecast, audience measurement company VideoAmp now says that TV ad sellers and buyers will transact more than $3 billion worth of business guaranteed using its measurement data as currency by the end of 2024, marking 880% YoY growth for the firm.
In September, the New York-based ad tech company issued a full-year forecast of half of that, or $1.5 billion.
”This is just the beginning. We anticipate 2025 to be a watershed moment for the media industry, with VideoAmp leading the charge. Advanced currency is here, and it’s here to stay,” said VideoAmp Chief Product Officer Josh Hudgins, in a statement.
The growth followed a rocky start to 2024, which included the resignation of longtime CEO Ross McCray and the layoff of 20% of the VideoAmp workforce. However, under the guidance of McCray’s successor, veteran media and entertainment executive Peter Ligouri, the ad tech company seems to have gotten itself back on track.
VideoAmp on Thursday also announced a greenlight from the U.S. Joint Industry Committee (JIC), which has certified the vendor’s currency for Personified Demos for 2024-2025.
The personified demos certification comes after JIC announced in early April that it had certified data products from VideoAmp, along with competing video measurement vendor Comscore, as transaction-ready, cross-platform national currencies for TV ad buying and selling ahead of the Upfront. At the time, the JIC certified the vendors for classifications of Advanced Audiences and Households but determined improvements were needed to be transactable at scale for Personified Demos, “based on the need to provide acceptable personified reach metrics” as a core requirement for certification. Measurement vendor iSpot has also received currency certification from the JIC across all three classifications including across Average Commercial Minute (ACM) and Exact Spot.
Also in its broad-reaching end-of-year announcement, VideoAmp touted client wins, including that Paramount Global has been using the company as its primary currency provider since Oct. 1. VideoAmp also boasted A+E Networks, AMG, IPG Mediabrands, NBCUniversal, OMG, Disney, RPA, TelevisaUnivision and Warner Bros. Discovery as other clients using its measurement products.
Meanwhile, VideoAmp said it has taken steps to further improve its big data and measurement offerings, outlining four specific recent product upgrades:
- VideoAmp said it added TransUnion and Blockgraph to its proprietary Commingled ID Graph, upping the amount of providers to five. The existing suite included Experian, Verisk Marketing Solutions and LiveIntent. “This allows VideoAmp to stitch together a more complete view of audiences and outcomes across platforms,” the company said.
- The company said it has extended its measurement capabilities to include syndication and overnights, while also expanding its integration with Mediaocean.
- VideoAmp introduced “Powered by VideoAmp,” a measurement, planning and optimization toolkit comprising a suite of APIs and dashboards that can be directly integrated into the tech infrastructures of agencies, brands and publishers. The company said its suite is currently powering NBCUniversal’s OnePlatform Total Audience, Paramount Vantage and Warner Bros. Discovery’s Olli.
- VideoAmp also declared itself to be the first media measurement company to use data intelligence firm Truthset to independently validate the accuracy of its Commingled ID Graph.
Calling 2024 a “milestone year” for the company, VideoAmp said it achieved 98% coverage of the TV publisher ecosystem and adoption across more than 50 agencies, all major HoldCo’s and over 1,000 advertisers.