Announced this morning, the deal will have AcuityAds licensing its programmatic advertising platform for SoCast’s US-based radio clients.
“We are pleased that SoCast has chosen Acuity’s programmatic advertising platform as their digital advertising solution for their radio clients,” stated Tal Hayek, CEO of AcuityAds, in a press release. “Research indicates that radio companies are optimistic about programmatic advertising and its growing role and this partnership enables them to more easily extend their engagement with audiences and advertisers across all digital channels.”
Goff says that the SoCast agreement is a win for AcuityAds. “The partnership represents solid validation of AcuityAds as a technology company and is consistent with its one to many go to market strategy,” he says. “SoCast effectively supplies a CMS (client management software) product suite of digital products that enables radio broadcasters to interact with their audience online and to collect listener analytics that can guide programming decisions, provide feedback to advertisers, and now with AT integrate with programmatic sales programs. The product will be white labeled with SoCast, but include the ‘powered by AcuityAds’ sub-branding.”
“Radio broadcasters are particularly well suited [to AcuityAds], as the broadcasters are wholly motivated to ramp up on digital programs and their end advertisers/clients are weighted towards local and regional advertisers, where they often would not have the internal resources/knowledge to adopt programmatic buying,” he says.
Goff sees AcuityAds generating revenue of $52.9 million in 2018 with Adjusted EBITDA of $0.6 million.
Disclosure: Cantech’s Nick Waddell owns shares of AcuityAds