Next Millennium Media Reports Third Quarter Results

News provided by

Nov 01, 2022, 09:46 ET

MONTVALE, N.J., Nov. 1, 2022 /PRNewswire/ -- Next Millennium Media, a full-service provider of comprehensive digital solutions for web publishers and brand advertisers, today announced a number of achievements and positive results for the third quarter.

Next Millennium Media has experienced a strong period of exceptional growth due to their expansion into in-app ad services in addition to their prior web and video ad focus. In-app advertising is a revenue stream for mobile apps that seek to leverage their real-estate to show ads to their users. In-app advertising enables advertisers to reach audiences with pinpoint accuracy. The click-through rate (CTR) for in-app ads is 0.56% globally, compared to the 0.23% that mobile web ads see. Next Millennium's foray into the space as in-app ads are exploding industry-wide has resulted in a hefty achievement during the last quarter. Publisher clients who have taken advantage of this type of advertising have received positive reviews.

"Overall, we focused on deepening our partnerships with advertisers and agencies while understanding their long term needs so that we can continue to provide engaging, targeted campaigns for our advertisers and increased revenue and quality for our publishers." said Will Bachrach, Next Millennium Media Head of Product.

Some of these new relationships on the direct advertising and publisher side include McDonald's Regional, Minute Media, and Drugs.com. The partnerships have gotten off to strong strategic starts for both parties. Next Millennium's data science and product team will continue to review trends in the industry in order to best serve partners and clients who want to prioritize their bottom line through leading-edge advertising trends and technology.

Additionally, the company's existing streams of business have been solid as they continue to implement advanced and cutting-edge proprietary ad formats for premium brands. The newest example of this is Next Millennium's proprietary video player with premium licensed content that is being offered to their publishers and clients. Many see content video players as the future of digital advertising as more and more consumers are hungry for video content. The average person views 78 minutes of video content a day. Interspersing ads with content can increase viewability, engagement and frequency. The proprietary video player has increased revenues for publisher partners, resulted in rave reviews and has taken off well this past quarter.

"Our mission to bring advertisers and publishers closer to each other is important and essential. Through this crucial undertaking, we have seen strong success and we project strong growth as well in the future," said Bachrach. "Although the economy and our industry has experienced some challenges and faces some headwinds in the upcoming months, Next Millennium is confident that we can continue to grow."

The outlook for Q4 is solid with Midterm Elections around the corner. In fact, online video is expected to be the primary format within digital, with connected TV spend by political advertisers projected to hit $1.5B in 2022. This will benefit the entire industry and earnings should steadily rise as the elections approach.

SOURCE Next Millennium Media