It’s known for its broadcast media inventory and revenue workflow management. Now, it has brought to market what it claims to be “the only buy-side platform offering direct access to inventory” from broadcast TV stations by using the “WO Marketplace” premium sell-side exchange.
The new product from WideOrbit is being branded as ZingX, and WideOrbit says it provides a national footprint, with 184 out of 210 markets providing
87% effective U.S. national reach, fulfilled with inventory from local television stations.
In WideOrbit’s words, ZingX provides media buyers direct access to broadcast TV ad inventory from local stations across the U.S. It uses technology that automates transaction
and campaign optimization processes and is being marketed to media buyers, agencies, and demand-side platforms (DSPs) to add local TV to their omnichannel campaigns.
The goal for the TV stations: expanding reach and improving campaign performance for marketers, while cashing in on the ROI opportunity.
As WideOrbit explains, ZingX uses automation to simplify TV ad buying via a three-step process:
1. Build a campaign, defining budget, CPM goals, audience, target markets and
dayparts.
2. Preview allocated impressions and budgets and adjust if needed.
3. Submit to stations and track delivery. Impressions are automatically reallocated as
spots air to optimize CPM and budget goals.
ZingX is a SaaS offering and is integrated not with Nielsen data but instead with Comscore’s Local Market Television Measurement. This will allow advertisers data on reaching impression targets based on market and/or daypart, rather than making specific program buys.
“Broadcast TV remains the most effective way to reach large numbers of consumers,” said Carol Hinnant, Chief Revenue Officer at Comscore. “We are excited to expand our longstanding partnership with WideOrbit to help power automation that allows advertisers to easily reach audiences across local markets and demographics.”
Eric Mathewson, WideOrbit’s founder and CEO, added, “With over 20 years’ experience as the leader in premium broadcast technology and the largest sell-side processor of premium advertising, WideOrbit is excited to bring that expertise to the buy side with ZingX.”
TORONTO-BASED FIRM PLANS WIDEORBIT MERGER
The announcement of ZingX’s arrival comes exactly one month after Canadian firm Constellation Software Inc. and its Lumine Group subsidiary entered into a binding agreement and plan of merger with U.S.-based WideOrbit.
Once the transaction is completed, WideOrbit will become a wholly owned subsidiary within Lumine Group and will operate as an autonomous business unit within the Lumine Group’s portfolio of companies.
Furthermore, Lumine will be spun out of Constellation and operate as a separate publicly traded company; Constellation trades on the TSX.
The purchase of WideOrbit is being financed with funding from Constellation and a banking partner. Consideration for the purchase will be in the form of a cash payment plus the issuance to eligible WideOrbit shareholders of 13.83% of the shares of Lumine Group (on a fully diluted basis).
Annual gross revenues of WideOrbit for 2021 were approximately $167 million USD. WideOrbit employs approximately 450 employees, and the acquisition of WideOrbit is currently expected to close in Q1 2023, subject to the satisfaction of certain closing conditions.
