TV audiences are watching programming on a broader variety of screens, making media buying more complex for advertisers that want to reach target audiences as they move across platforms. Mediaocean is adapting to those changes as linear TV converges with streaming platforms and social media.
With the financial backing of private-equity firm Vista Equity Partners, Mediaocean has pushed forward with the acquisition of almost a dozen companies to expand its range of services and grow its global footprint from five countries to 80 markets in the past five years.
For Bill Wise, CEO of Mediaocean, the TV advertising market is ripe for software solutions that help to see a more holistic perspective of platforms and regions.
Mediaocean provides automated buying and selling of advertising inventory. Its roots go back in the 1960’s with Donovan Systems which became Mediaocean in 2012.
“Marketers are acting more global — they want to have a 360-degree view of their audience, prospects and customers,” he said in an interview with Beet.TV. “In a lot of cases, we see a global marketer may have 12, 13 or 14 agencies across the globe. One of the consistencies in most of the major markets is Mediaocean.”
Advertisers, agencies, media channels and other companies for years have used its software to keep records of media buying and selling, and to handle back-office functions like invoicing and payments. As TV convergences with digital media platforms, Mediaocean saw an opportunity to expand.
The company last month acquired marketing technology firm 4C Insights, whose focus is on audience data, media planning and analytics for streaming video and social networks. Streaming platforms like Hulu, Pluto TV, Peacock and Tubi are seeking a bigger slice of ad market, while social media apps such as Facebook, Instagram and Snapchat have added more video programming to attract more media dollars from major advertisers.
“We’ve seen a lot of solutions that are tailored to the buy side, and we’ve seen solutions tailored to the sell side,” Wise said, “but in terms of connecting those two and making it a much more seamless process, not a lot of companies are focused on that as it pertains to TV.”
In addition to the acquisition of 4C, the company has been aggressive about buying software companies that Wise describes as “mini Mediaoceans” in other markets. The acquisitions include MBS and Symsys to expand into Europe, and PIN Systems and BCC AdSystems to push into the Asia-Pacific region.