Video ads can be annoying, but they also can be somewhat of an art. After all, how do you grab the attention of online consumers who have grown to ignore them?
That’s a question that 21st Century Fox hopes it has answered. The mass media giant announced Wednesday it will acquire video ad company TrueX Media to help increase engagement between brands and consumers on digital platforms for all its Fox properties.
Terms of the deal were not disclosed, though one report said it was worth upward of $200 million.
“The connections between brands and consumers have continued to evolve within digital video environments, and (TrueX) is at the center of this vital area of innovation,” said James Murdoch, co-chief operating officer of 21st Century Fox, in a statement.
TrueX’s marketing platform gives online viewers the option to watch a video ad before their content starts in exchange for lowering the total number of ads shown. Instead of having six “commercial” breaks, for example, a video might only have three, giving viewers a less interrupted experience. Brands also benefit since the pre-show ads are usually a mix of video and content that create an interactive user experience.
The ad tech firm began as SocialVibe in 2006, developing in-game mobile ads before moving over to video. The company, co-headquartered in West L.A. and New York, had worked with Fox prior to Wednesday’s announcement. It also counts streaming sites Pandora and DramaFever among its online publishers. Brand clients include Toyota, L’Oreal and Microsoft.
TrueX will continue to operate independently.
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