Collective Acquires Web TV Enterprise
The offices of Collective must be busy. Just six months ago the full-service video advertising company expanded into the United Kingdom, and weeks ago it acquired Oggifinogi, a video advertising platform. Now, the company has purchased Web TV Enterprise, an online video advertising network, for an undisclosed amount.
Web TV Enterprise has been in the video-on-demand advertising space since 2006, and is the U.K.'s largest premium online video ad network. It offers advertisers a wide range of premium video channels for their ads, reaching over 25 million U.K. homes each month.
"Slow adoption of online video advertising has resulted in the format's potential being left largely untapped with video companies remaining a small subset of overall television advertising spend," says Joe Apprendi, Collective's CEO. "Unlike most video networks, Web TV's revenues come largely from broadcast media budgets versus smaller digital plans. This is a trend that we see accelerating in the U.K., U.S., and globally."
"Collective's success in combining audience targeting and analytics with the most engaging advertising format available makes this a natural fit for us. Our combined efforts will drive the advancement of online video advertising," says Jamie Estrin, founder and managing director of Web TV Enterprise.