ExtendTV (http://www.extend.tv/ ) launches today, providing a custom-built solution for local broadcasters to give community advertisers the opportunity to reach their customers anywhere they are watching video. ExtendTV provides local businesses with the same advanced media buying capabilities as large national agencies and advertisers. The company’s proprietary technology addresses the specific needs of local businesses to geo-locate and micro-target audiences, and supports the local TV sales force so they can offer a true, multi-screen solution. Now, a local hospital or law firm can use ExtendTV’s platform to reach their customers and grow their business through digital-video advertising.
ExtendTV was created with the vision of enabling local establishments with advertising power as impactful as large firms and corporations. The company built a proprietary, real-time bidding platform and advanced-computer algorithms that efficiently target a local advertiser’s intended audience. The ads are placed in-stream and in interstitials on premium-publisher, brand-name and enthusiast websites, mobile and connected TV apps, resulting in a TV-like viewing experience. The company offers custom software tools and an advanced support and service operation, empowering TV stations with the same campaign management and reporting capabilities as large media agencies.
ExtendTV enters a playing field that is poised for significant growth. The company has been operating in beta for the last six months with the intention of now entering the larger advertising market. The scope of digital reach enables local advertisers – from a car dealership to recently opened restaurant – to drive traffic both digitally and literally.
A report (http://www.tvb.org/media/file/Borrell-TVB-Online-Revenue-Benchmarking_2014.pdf ) commissioned from Borrell by the Television Bureau of Advertising shows that local businesses across the U.S. spent $24.7 billion on digital advertising, or one-fourth of their total advertising spend. Trend growth from ongoing SMB surveys forecasts that, “nearly half of all local advertising dollars will be spent on digital platforms two years from now.”
“Video advertising remains the most effective medium for communicating a message and influencing consumer behavior, and TV stations are the experts in bringing highly-effective and relevant video advertising solutions to local businesses,” says Mark Goldman, Co-Founder and Chief Executive Officer of ExtendTV. “We have been quietly working with a handful of TV stations over the past six months to bring this next-generation capability to their advertising clients and the response has been tremendous. We are excited to now offer this capability to TV stations and their clients nationwide.”
Digital Video Fuels Local Auto Dealer Sales
Over the past three months, ExtendTV executed multiple video-advertising campaigns on behalf of numerous auto dealerships in local markets. Each campaign required a unique blend of geographic, demographic and contextual targeting to achieve success. Campaign objectives focused primarily on brand building and driving local traffic to the dealerships around sales events.
ExtendTV uses its unique understanding of local-video viewing patterns to specifically hone in on publisher websites and mobile apps with a concentration of audiences that a local advertiser is most interested in reaching. The company is able to find websites and apps that may have very few users on a national scale but thrive on a local level within a particular market.
Teams of analysts initially seed the campaigns on select sites and continuously refine targeting based on proprietary algorithms specifically designed for local-market video advertising. By placing relevant ads from local-community advertisers in front of the most desirable audiences, ExtendTV can achieve well-above-average video completion and click-thru rates while working within local-market budgets. ExtendTV distribution channels include a carefully curated mixture of mainstream sites along with enthusiast sites to accurately target and reach audiences and ensure viewer engagement.
In the case of its automotive campaigns, ExtendTV achieved impressive results with an average video completion rate of 82% and an average click-thru rate in excess of 0.8%. The team met or exceeded the objectives for all of the auto dealerships resulting in a greater than 85% renewal rate.
Experienced Management Team
The team behind ExtendTV is led by individuals with extensive media and technology backgrounds:
Mark Goldman: Co-founder and CEO
Mark has over 25 years of experience in the media and technology industries. He previously worked with Al Gore and Joel Hyatt as the founding COO of Current TV where he played a leading role in the start-up and development of a next-generation media company that ultimately sold for approximately $500 million. Prior to that, he served as President of Sky Latin America Partners where he oversaw the launch and evolution of News Corp’s first digital satellite TV service.
Ramandeep Ahuja: Co-founder and VP, Engineering / Chief Architect
Ramandeep has extensive experience developing high-performance, low-latency trading systems for Wall-Street and technology firms. Prior to joining ExtendTV, Raman developed a high-frequency trading system for XR Trading. Most recently Raman was a senior engineer at Apsalar, where he designed and implemented a high-performance, real-time bidding system for mobile. Raman has eight granted patents as well as several pending and published papers.
Aman Sareen: Co-founder and VP, Product Management & Ad Ops
Aman has over 10 years of product and operations experience in the ad-tech and big-data business. Early in his career he worked in the digital analytics group for the global-media agency OMD, and subsequently played various product management and operating roles for leading technology companies including YuMe, Inadco, and Apsalar.
Christopher (Christo) Owen: VP, Business Development
Christo is an ad-tech veteran. He previously served as Senior Director at Tremor Video, where he helped pioneer and manage Tremor’s Desktop network. He oversaw and fostered all of the company’s publisher relationships across Desktop, Mobile, and Connected TV networks.
ExtendTV was founded to allow local community businesses the opportunity to reach and connect with their customers and prospects anywhere they are watching video. It affords small and midsize businesses (SMBs) the same advanced-media buying capabilities as large national agencies and advertisers. ExtendTV’s proprietary technology addresses the specific needs of local businesses to geo-locate and micro-target audiences who are increasingly consuming video on multiple screens. The company partners with local TV stations, leveraging their sales force and providing them with the capability to offer a comprehensive video advertising solution for their SMB clients. The Company’s video supply and data partners include: adRise, comScore, DoubleClick, IB5k, InMobi, Inneractive, LiveRail, MoPub, Nexage, Smaato, SpotXchange, TapSense, and Vdopia.