State of the Traditional Ad Agencies. Part of a Presentation Made to the IAB Agency Advisory Board December 3, 2013
|
|
|
- Ruby Hodge
- 7 years ago
- Views:
Transcription
1 State of the Traditional Ad Agencies Part of a Presentation Made to the IAB Agency Advisory Board December 3, 2013
2 State of the Traditional Ad Agencies 1 Massive Movement to Digital Advertising 2 Traditional Agency Model is Threatened 3 New, Large, Innovative, Tech-Oriented Competitors 4 Changing Client Relationship Dynamics Strategic Impact for Traditional Agencies? 2
3 Secular Shift in Ad Spend to Digital U.S. Total Ad Spending ($ in Billions) U.S. Total Ad Spending Share $ % 90% 4.0% 4.0% 4.1% 4.1% 4.1% 4.1% 4.1% 5.8% 5.2% 4.5% 4.0% 3.6% 3.2% 2.9% 9.9% 9.6% 9.3% 9.2% 9.0% 8.8% 8.5% $178.4 $ % 70% 24.7% 22.6% 20.7% 19.3% 18.1% 17.4% 16.6% $166.0 $ % 50% 17.1% 20.2% 22.5% 24.8% 26.8% 28.3% 29.2% $ % 30% 20% 38.4% 38.3% 38.9% 38.7% 38.4% 38.2% 38.6% 10% % TV Digital Print Radio Directories Outdoor Sources: emarketer, December
4 Tectonic Behavior/Media Shifts Underlie Digital Media 2000 (Website) 5% 2010 (ecrm, Website) 2015 Owned media 90% Paid Media (Advertising) 5% Earned media Growth of Social (PR, Word of Mouth) 80% Paid Media 13% Earned media 7% Owned media (PR, Twitter, Facebook, Blogs, video sharing) Growth of Mobile (ecrm, Website, Syndicated Channels, Content) 60% Paid Media 30% Earned media 10% Owned media (PR, Blogging, Video Sharing, Wiki, Bookmarking, Social Networking, Crowdsourcing, Co-Creation, Commenting etc.) Global Social Network Users (Million) 1,005 % of Global Internet Traffic 15% 373 1% 2007 Dec Dec 2012 Sources: Strategy Analytics; KPCB. 4
5 All Digital Channels Realizing the Value of Data Lies in the Ability to Personalize Consumer Experiences Still early in the evolution of key digital markets Offline vs. Online Commerce Rapid Growth in online data The Digital Data Universe: Personalization is playing an increasingly critical role in driving consumer acquisition and retention Personalization 23.3% 130EB (1) Marketing ecommerce 8.0% 40,000EB (1) Personalization 2012 Digital % of Ad Spend ecommerce % of Total Commerce Changing consumer behavior Sources: IDC Digital Universe Study, 2012; U.S. Census Bureau. (1) Exabyte= 1.1 billion gigabytes. Static Real-time Non-PC Channels emerging Data deluge challenging CMOs 5 Real-time, unique, monetizable = holy grail of digital marketing
6 Automation of the Marketing Process is at the Heart of Personalization Traditional marketing services capabilities are becoming increasingly automated Consumer data and use of it are inherent in all capabilities Tech replacing traditional services Traditional media buy RTB Ad Tech Direct Mail Focus Groups Online Surveys Market Research A/B Testing Broadcast Model Audience Model 6
7 Converging Capabilities in the Marketing Automation Ecosystem Database Marketing (3) Attribution (2) Web Analytics (3) Mobile Marketing (8) Site Optimization (4) Marketing Automation Demand Side Platform (4) Social Marketing (18) Display/Search Retargeters (4) (8) Predictive Analytics (11) CRM (9) Personalization (4) 7
8 Key Threats to Core Traditional Agency Services Key Threats Emerging Competitors Key Thoughts Creative Increased measurability and targeting capabilities Multichannel creative applicability and execution Vertical Oriented Solutions Mobile Oriented Solutions Multi-channel integration New angles in mobile, social, and ecommerce Integration with ad measurement platforms Production Efficient offshore models Enable large scale production, driving revenue, at low cost Develop in-house offshore teams, e.g. Digitas/Publicis 8
9 Key Threats to Core Traditional Agency Services (cont d) Key Threats Emerging Competitors Key Thoughts Media Buying Managed service technology providers DSPs, DMPs and other ad tech tools Ad Tech moving upstream, forging relationships directly with agency clients Media buying agency claims face dramatic upheaval The commoditization of DSPs Agency trading desks must build proprietary buying tech in order to compete DMP begin to supply research -enabled RTB Market Research Cheaper, real-time data collection Plentiful peer reviews and social media Online surveys replacing traditional focus groups Social media ( likes ) becoming a proxy for survey data 9
10 Valuation Perspective of Key Competitive Groups
11 Overview of Key Competitive Groups Traditional Agency Database Marketing Market Research Ad Tech Digital Marketing Internet Titans 11
12 Summary Valuation Matrix Sector Size ($mm) Valuation Operating Metrics Price Performance 2013E 2013E 2013E 2013E E Market Cap 2013E 2013E EBITDA EV/ EV/ EBITDA P/E EBITDA Margin CAGR Growth Since 2009 YTD Traditional Agency Median $9,669 $8,357 $ x 11.0x 19.3x 15.5% 6.5% 4.3% 257.4% 43.3% Database Marketing Median $2,468 $2,008 $ x 12.2x 27.9x 18.7% 0.1% (1.5%) 314.4% 29.5% Market Research Median $1,855 $2,072 $ x 9.1x 24.3x 14.6% 6.2% 2.4% 95.5% 37.1% Ad Tech (1) Median $290 $157 ($3) 2.42x 38.9x NM 5.5% 99.3% 34.1% NM (8.8%) Digital Marketing Median $806 $301 $ x 8.9x 52.3x 14.9% 27.9% 13.2% 144.9% 26.9% Internet Titans Median $91,001 $11,847 $4, x 23.6x 30.3x 33.9% 28.5% 20.7% 207.8% 53.8% Overall Mean $25,962 $7,397 $1, x 14.6x 96.7x 19.4% 21.9% 17.3% 336.1% 39.5% Median 2,021 1, x 11.7x 24.5x 15.5% 9.3% 8.5% 209.3% 41.8% Source: Capital IQ; Company filings. Note: Only includes positive multiples below 20x for, 100x for EBITDA and P/E. (1) 2009 revenue data only available for one Ad Tech company. 12
13 Traditional Agency Valuation Details Company Size ($mm) Valuation Operating Metrics Price Performance 2013E 2013E 2013E 2013E E Market Cap 2013E 2013E EBITDA EV/ EV/ EBITDA P/E EBITDA Margin CAGR Growth Since 2009 YTD Dentsu Inc. $12,166 $21,482 $1, x 13.5x 28.5x 4.8% 8.2% (5.5%) 116.8% 59.4% Havas 3,217 2, x 9.9x 17.7x 16.1% 4.3% 3.1% 282.4% 42.0% The Interpublic 7,172 7, x 9.3x 19.5x 12.5% 5.0% 2.3% 301.6% 47.8% Lamar Advertis 4,681 1, x 12.5x NM 42.7% 3.9% 5.5% 252.0% 23.8% MDC Partners 1,110 1, x 11.0x NM 13.7% 25.9% 9.0% % 233.9% Omnicom Group 18,525 14,573 2, x 10.0x 19.1x 14.9% 6.7% 2.5% 150.1% 37.5% Publicis Groupe 18,790 9,596 1, x 11.2x 18.8x 18.3% 10.4% 10.1% 228.9% 41.6% WPP plc 29,479 18,186 3, x 11.0x 22.7x 17.3% 6.3% 7.9% 262.7% 44.5% Mean $11,892 $9,473 $1, x 11.1x 21.1x 17.5% 8.8% 4.4% 331.4% 66.3% Median 9,669 8, x 11.0x 19.3x 15.5% 6.5% 4.3% 257.4% 43.3% Source: Capital IQ; Company filings. Note: Only includes positive multiples below 20x for, 100x for EBITDA and P/E. 13
14 Database Marketing and Market Research Valuation Details Company Size ($mm) Valuation Operating Metrics Price Performance 2013E 2013E 2013E 2013E E Market Cap 2013E 2013E EBITDA EV/ EV/ EBITDA P/E EBITDA Margin CAGR Growth Since 2009 YTD Database Marketing Acxiom $2,468 $1,093 $ x 12.2x 49.7x 18.7% 0.1% (1.5%) 314.4% 81.2% Alliance Data 11,688 4,311 1, x 14.5x 35.1x 31.7% 22.8% 18.4% 409.1% 62.6% Experian 18,260 4,879 1, x 13.0x 23.5x 34.2% 7.1% 4.3% 185.2% 9.7% Harte-Hanks In x 7.0x 27.9x 11.7% (3.7%) (19.1%) 19.8% 29.5% Valassis Comm 1,109 2, x 6.0x 10.5x 13.1% (1.2%) (7.1%) % 10.1% Mean $6,802 $2,582 $ x 10.5x 29.4x 21.9% 5.0% (1.0%) 589.1% 38.6% Median 2,468 2, x 12.2x 27.9x 18.7% 0.1% (1.5%) 314.4% 29.5% Market Research comscore $955 $285 $ x 15.5x NM 20.2% 25.9% 11.8% 111.5% 91.0% gfk 2,077 2, x 8.8x 29.0x 14.6% 6.2% 3.7% 95.5% 12.0% Harris Interacti x 8.5x 18.2x 8.4% (5.5%) (0.7%) 216.3% 52.3% ipsos 1,855 2, x 9.1x NM 12.5% 20.4% 1.3% 49.8% 7.0% nielsen 16,150 5,725 1, x 13.9x 24.3x 28.2% 5.2% 2.4% 84.7% 37.1% Mean $4,231 $2,122 $ x 11.2x 23.8x 16.8% 10.4% 3.7% 111.6% 39.9% Median 1,855 2, x 9.1x 24.3x 14.6% 6.2% 2.4% 95.5% 37.1% Source: Capital IQ; Company filings. Note: Only includes positive multiples below 20x for, 100x for EBITDA and P/E. 14
15 Digital Marketing and Ad Tech Valuations Company Size ($mm) Valuation Operating Metrics Price Performance 2013E 2013E 2013E 2013E E Market Cap 2013E 2013E EBITDA EV/ EV/ EBITDA P/E EBITDA Margin CAGR Growth Since 2009 YTD Ad Tech Criteo SA $1,965 $591 $ x 53.0x NM 6.2% NM 64.8% NM 14.5% Marin Software (26) 2.42x NM NM NM 99.3% 28.9% NM (36.2%) Rocket Fuel Inc 1, (3) 5.86x NM NM NM NM 117.3% NM 52.7% Tremor Video, (3) 0.95x NM NM NM NM 19.3% NM (56.0%) YuMe, Inc x 24.7x NM 4.8% NM 34.1% NM (8.8%) Mean $835 $236 $2 2.73x 38.9x NM 5.5% 99.3% 52.9% NM (6.8%) Median (3) 2.42x 38.9x NM 5.5% 99.3% 34.1% NM (8.8%) Digital Marketing Bankrate, Inc. $1,835 $455 $ x 16.5x NM 25.8% 51.5% (0.5%) NM 42.4% Constant Conta x 15.2x 86.9x 16.1% 25.0% 13.2% 87.4% 76.7% Marketo, Inc. 1, (31) 11.28x NM NM NM NM 61.5% NM 135.9% Millennial Medi x NM NM 0.7% 122.1% 48.7% NM (52.1%) QuinStreet, Inc x 8.1x NM 13.7% 3.9% (8.7%) NM 26.9% ReachLocal, In x 8.9x NM 5.6% 30.9% 13.4% NM (8.1%) ValueClick, Inc 1, x 7.3x 17.6x 38.3% 16.1% (13.2%) 202.4% 9.7% Mean $933 $356 $ x 11.2x 52.3x 16.7% 41.6% 16.4% 144.9% 33.1% Median x 8.9x 52.3x 14.9% 27.9% 13.2% 144.9% 26.9% Source: Capital IQ; Company filings. Note: Only includes positive multiples below 20x for, 100x for EBITDA and P/E. 15
16 Internet Titans Valuation Details Company Size ($mm) Valuation Operating Metrics Price Performance 2013E 2013E 2013E 2013E E Market Cap 2013E 2013E EBITDA EV/ EV/ EBITDA P/E EBITDA Margin CAGR Growth Since 2009 YTD Amazon $179,569 $74,929 $5, x 34.8x x 6.7% 35.6% 22.6% % 49.9% ebay 66,478 16,072 5, x 11.2x 24.7x 33.6% 17.3% 14.2% 254.4% (3.0%) Facebook 115,524 7,621 4, x 23.7x NM 59.0% 87.1% 49.8% 23.1% 67.0% Google 352,288 59,598 21, x 14.2x 28.9x 36.1% 28.5% 18.8% 230.2% 46.7% Twitter 22, x NM NM 7.8% NM 101.2% 59.9% 57.7% Yahoo 37,544 4,442 1, x 23.6x 31.7x 34.1% (8.3%) (10.9%) 185.4% 82.7% Mean $128,936 $27,217 $6, x 21.5x 371.3x 29.6% 32.0% 32.6% 382.5% 50.2% Median 91,001 11,847 4, x 23.6x 30.3x 33.9% 28.5% 20.7% 207.8% 53.8% Source: Capital IQ; Company filings. Note: Only includes positive multiples below 20x for, 100x for EBITDA and P/E. 16
17 Value Accretes to Digital Technologies Enterprise Value ($ billions) $400 $300 $200 $100 $70 $60 $50 $40 $30 $20 $10 $5 $1$0 0.0x 2.0x 4.0x 6.0x 8.0x 10.0x 12.0x 2013E Multiple 15.0x 2013E Multiple Source: Capital IQ; Company filings. Note: Only includes positive multiples below 20x for, 100x for EBITDA and P/E. 17 Legend Trad. Agencies Database Marketing Market Research Ad Tech Digital Marketing Internet Titans 25.0x 35.0x 45.0x
18 The Picture is Clearer Without Internet Titans Legend Trad. Agencies Database Marketing Market Research Ad Tech Digital Marketing Source: Capital IQ; Company filings. Note: Only includes positive multiples below 20x for, 100x for EBITDA and P/E. 18
19 How to Effect Strategic Value through M&A
20 Big Four M&A Strategy Overview Minimal M&A Modest M&A Significant M&A, especially large digital (2012) agencies Ad strategy and production Price Undisclosed (2008) Web development and design Price Undisclosed Digital marketing Price Undisclosed (2010) (2007) Branding agency $79 mm Australian marketing communications $136 mm Fleet graphics and signage $133mm (2011) (2011) Online Market Research $100mm* (2007) (2013) Digital agency $582mm 1.9x LTM 12.0x LTM EBITDA (2011) Digital agency $575mm 2.7x LTM (2009) Digital agency $530mm 1.4x LTM (2007) Digital agency $1.3 bn 1.6x LTM 20.2x LTM EBITDA Most consistent M&A execution Mix of large strategic deals & smaller digital agencies (2012) Digital agency $540mm 2.9x LTM (2008) Market Research $3.0bn 1.4x LTM 11.0x LTM EBITDA (2007) Digital marketing tech $540mm 3.0x LTM 128.8x LTM EBITDA *Rumored deal value 20
21 $35.1 Billion Omnicom / Publicis Merger Deal Rationale A merger of equals that will create the world s largest ad holding company Consolidation will combine resources in growth opportunities such as the utilization of data, digital technologies and emerging markets Combined company better equipped to compete with digital giants Google, Facebook, Yahoo, etc. Economies of scale and synergies will lead to more competitive pricing for clients Research Response Publicis and Omnicom shareholders benefit because of cost synergies that we expect to be larger than the impact of potential client losses. Barclays 7/28/13 Near-term expenses associated with the deal will negate any immediate benefit, longer-term cost reductions should enhance earnings growth. J.P. Morgan 7/29/13 Stock Price Performance Since Announcement Relative Scale 20% 15% 10% 5% 0% (5%) LTM ($ billions) $23 $21 $16 $14 $9 $7 $2 (10%) Date 30-Jul Aug Sep Oct-13 Merger Announced Source: Capital IQ, company research and filings. 21 * Pro forma revenue based on sum of Omnicom and Publicis LTM revenues pre-merger.
22 Companies Successfully Effecting Strategic Value Building targeted Ad Stack solution (2012) Social media marketing $450mm Ad exchange $400 mm (2011) (2010) Mobile ad network $750mm (2010) Building marketing services powerhouse (2012) Broad digital marketer $460mm 9.0x LTM EBITDA (2011) Private marketer $345mm 1.4x LTM (2006) Data analytics provider (unit of DoubleClick) $435mm (2005) (2006) Building innovative execution capabilities (2013) ecommerce IT and Digital Marketing $285mm 2.0x LTM 13.9x LTM EBITDA Digital production Price Undisclosed (2012) Internal transformation of company under digital-centric leadership New CEO, Scott Howe, in July 2011 background Premiered Acxiom Audience Operating System in July 2013 Integrated data collection and marketing platform with huge potential (2013) Ad server $3.1bn (2007) (2004) Integrated direct marketing provider ~$300mm 22
23 Select Top Industry M&A of 2013YTD ($ in Millions) Implied Enterprise Value to LTM Date Acquirer Target Size (1) EBITDA Jul 28 Jun 04 Aug 12 Aug 07 Sep 09 Aug 13 Oct 30 Nov 25 Feb 26 May 20 (Merger of Equals) (TV & Ad Distribution Unit) $20, x 9.7x 2, x NM NA NA NA NA NA NA x 13.9x x NM NA NA x 8.7x x NA Source: Capital IQ, company research and filings. (1) Implied enterprise value. 23
24 Private Equity Continues to be Active Buyers Real competitive buyer threat to traditional Ad holding acquisition deal structure Highly successful historical exits continued interest in building the next one Recent Gridley transactions highlight interest in building highly vertical / specialized capabilities 24
25 Advice for the Audience
26 The Threat of Next Generation Technologies is Across All Large End Markets Traditional Ad Agencies vs. Ad Tech Traditional Media vs. Social Networks Retail vs. ecommerce Emerging Companies vs. Traditional Big Data Sources: Capital IQ. 26
27 The Technology Disruption Threat to Traditional Agencies is Real and is Just Beginning Enterprise Value ($ billions) $400 $300 $200 $100 $70 $60 $50 $40 $30 $20 $10 $5 $1$0 0.0x 2.0x 4.0x 6.0x 8.0x 10.0x 12.0x 2013E Multiple 15.0x 2013E Multiple Source: Capital IQ; Company filings. Note: Only includes positive multiples below 20x for, 100x for EBITDA and P/E. 27 Legend Trad. Agencies Database Marketing Market Research Ad Tech Digital Marketing Internet Titans 25.0x 35.0x 45.0x
28 Quick Gridley Commercial
29 Gridley Overview Gridley & Company LLC, a New York-based boutique investment bank, provides advisory services to companies in the Information Services industry Gridley & Company LLC Leading Boutique Strong Reputation Sharp focus provides clients with valuable strategic insights and perspectives Specialize in Internet Services, Digital Media & Marketing Services, Data Services, Financial Technology, and SaaS & Outsourcing Services Founded in 2001 Headquartered in New York, NY Strong industry reputation on assignments led by senior bankers Experienced, bulge-bracket trained M&A bankers The A Team Trusted Advisor Thoughtful ideas not just logical combinations Deliver value to buyers, sellers, and investors alike Broad industry network developed over 25+ years with industry leaders, emerging growth companies, and senior investors 2013 Gridley & Company LLC 29
30 12+ Years of Strategic Thought Leadership Quarterly Publications Industry Guides Frequent Industry Speaker Annual Gridley Hosted Events Highly respected newsletter about industry trends and corporate finance / M&A activity January Conference In-depth review of the digital NY ecosystem, including recent startups and the firms investing in them Summer Networking Event & Golf Outing 2013 Gridley & Company LLC 30
31 Host of Leading Annual Industry Conference for 13 years Bellwether event focused on our targeted industries Approximately 500 senior-level executives from over 300 companies Differentiated audience and participants vs. other conferences Highly personalized with Gridley arranged 1-on-1 s for clients, presenters, sponsors Presentations by approximately 40 private companies and industry panels addressing timely topics January 14, 2014 The Westin New York Grand Central (Invitation Only) 2013 Gridley & Company LLC 31
32 Event History Track Record of Finding Highly Successful Companies Early 218 private companies have presented since 2004 Over 70% have completed liquidity transactions Selected Past Conference Presenters 2013 Gridley & Company LLC 32
33 Selected Recent Gridley Transactions Gridley clients include industry leaders and premier emerging growth companies Acquired by Match Marketing Group 2013 Gridley & Company LLC 33
34 Selected Recent Gridley Transactions cont Gridley & Company LLC 34
35 QUESTIONS? Linda Gridley President & CEO Pratik Patel Managing Director Gridley & Company LLC 10 East 53 rd Street, 24 th Floor New York, NY tel fax
Growth Trends in Digital Media. October 20, 2014
Growth Trends in Digital Media October 20, 2014 Agenda I. Market Overview II. Digital Growth Drivers III. Summary Thoughts 2 I. Market Overview U.S. Equity Market at a Glance 100.00% 80.00% 60.00% 40.00%
Market Research Council
Market Research Council Gridley & Company LLC A Perspective on Market Research Trends October 21, 2011 0 Key Industry Issues Definition of online panels evolving Threat of real time analytics and customer
2011 Private Equity Forum
Marketing Services M&A Update presented by Tolman Geffs and Scott Peters, Co-Presidents The Jordan, Edmiston Group, Inc. September 22, 2011 Media and Marketing M&A M&A volume and value steady in 2011 After
Digital Media M&A Update January 2015
Technology and Digital Media Investment Banking M&A Advisory Digital Media M&A Update January 2015 January 29, 2015 Generation Equity Advisors, LLC 8560 W. Sunset Blvd, Suite 500 West Hollywood, CA 90069
JEGI Sector Insights: Transforming the Marketplace
Since 1987 JEGI Sector Insights: Transforming the Marketplace 2015 JEGI Media & Technology Conference Time Warner Center New York, NY www.jegi.com January 15, 2015 Bronx Tolman Geffs JEGI HQ Everything
Nexage Analytics Report December 2013
Nexage Analytics Report December 2013 Programmatic: Becoming the strategic technology foundation of mobile advertising Programmatic is gaining steam. It has rapidly shifted from a disruptive force to the
What have we achieved so far? MEDIA INNOVATION 2015 IAB AGM STATUS UPDATE
What have we achieved so far? MEDIA INNOVATION 2015 IAB AGM STATUS UPDATE Overview This document will illustrate the current Industry engagement and undertakings that have taken place over the last 9 months
The 50 Most Important Mobile Marketing Charts of 2015
The 50 Most Important Mobile Marketing Charts of 2015 What is the future of mobile marketing? Mobile has transformed the way we shop, consume media, and interact with our families and friends. In this
Webinar: Digital Media M&A at the Halfway Mark
Webinar: Digital M&A at the Halfway Mark JEANNE DIXON DATTILO Sr. Valuation Analyst JED WILLIAMS Vice President, Consulting LEM LLOYD CRO, Fixya August 7, 2013 Today s Agenda INTRODUCTION TO: LOCAL MEDIA
Media. GE Capital. Industry Research Update. Key Developments. Overall Spend
Winter 214-215 Overall Spend Organic Domestic Growth for Ad Agency Holding Companies Organic Revenue Growth Industry Research Update Media 7% 6% 5% 4% 3% 2% 1% Source: Quarterly earnings presentations
Company Category S2S Description
LIVERAMP INTEGRATIONS Company Category S2S Description 24/7, Video 24/7 creates the technology tools for business advantage in the digital age, offering clients powerful and streamlined marketing solutions
Media Maven. The Ad Tech Marketplace: Let the M&A Games Begin? Volume 5 December 2010
1370 Avenue of the Americas New York, NY 10019 www.coadydiemar.com Media Maven The Ad Tech Marketplace: Let the M&A Games Begin? Volume 5 December 2010 For some time now, online advertising industry pundits
2013 SIIA Strategic and Financial Conference New York, NY
Since 1987 The Coming Shift in Digital Marketing: Always On CRM 2013 SIIA Strategic and Financial Conference New York, NY www.jegi.com June 21, 13, 2013 2012 Discussion Agenda M&A Heating Up in Marketing
Digital Advertising Trends-Excerpt. Prepared for:
Digital Advertising Trends-Excerpt Prepared for: March 6, 2013 Altman Vilandrie & Company AV&Co. is the leading strategy firm focused on the Telecom, Media, and Tech sectors Background Founded in 2002
Digital Customer Engagement
Digital Customer Engagement First Analysis Investment Banking Industry Update July 2013 Industry Focus: Wave of Consolidation Changing Landscape for Digital Customer Engagement Solutions With the global
Mobile Advertising and Marketing: 3Q M&A Update
Advertising and Marketing: 3Q M&A Update Mark R. Langner Managing Director Research 415-464-6322 (t) 415-994-0557 (m) mlangner@headwatersmb.com Section 1: Review M&A activity in the mobile advertising
FUTURE OF ADVERTISING SPEND
Future of Advertising Spend: How Has It Evolved, and How Will It Continue to Evolve? The advertising landscape continues to evolve, with new mediums, shifting spend and agency consolidation creating a
Enterprise Software Meets Marketing Technology UNION SQUARE ADVISORS LLC
Enterprise Meets Technology 1 CONFIDENTIAL DRAFT Relevant Technology Industry Trends Informing Strategic Dialogue Potential IPO Market for Next Generation Ad-tech New Generation of Ad-tech / Data Models
Data Management Platforms will flourish in the data-centric economy. October 2015 TBR T EC H N O LO G Y B U S I N ES S R ES EAR C H, I N C.
Data Management Platforms will flourish in the data-centric economy October 2015 TBR T EC H N O LO G Y B U S I N ES S R ES EAR C H, I N C. Contents Introduction... 3 Brands and enterprises will turn to
Market Insight 2014 - Annual M&A Outlook
2014 OUTSELL SIGNATURE EVENT Annual M&A Outlook presented by Wilma Jordan, Chief Executive Officer The Jordan, Edmiston Group, Inc. October 1, 2014 M&A Overview 2 M&A Overview Industry Sector M&A Market
The Programmatic (R)evolution Causes, Effects & a Framework to thrive in it!
The Programmatic (R)evolution Causes, Effects & a Framework to thrive in it! Page 2 A revolution (from the Latin revolutio, "a turn around") is a fundamental change in power or organizational structures
Agency Trading Desks
Agency Trading Desks Basics Marketers Need to Know & Questions to Ask The purpose of this document is to educate ANA members on agency trading desks regarding what they are, what they do, potential benefits,
Marketing services mergers and acquisitions
Marketing services mergers and acquisitions Grant Thornton Corporate Finance, Mergers and Acquisitions Summer 21 Activity returns to pre-recession levels M&A activity within the marketing services sector
VIEWABILITY ATA DSP ADEXCHANGE RTB. Cookie. Retargeting Look-alike IMPRESSION. Site Buys. SSP Behavioral targeting PROGRAMMATIC BUYING.
MP PROGRAMMATIC SSP Behavioral targeting Private Ad Exchange/Marketplace ATA Cookie FREQUENCY CAP Behavioral BUYING Targeting Retargeting Look-alike modeling DSP VIEWABILITY IMPRESSION ADEXCHANGE Site
Outlook 2014: Data Driven Marketing in an. Senior Managing Director Chicago, IL October 15, 2013
Outlook 2014: Data Driven Marketing in an Omnichannel ih World Bruce Biegel DMA Annual Conference Senior Managing Director Chicago, IL October 15, 2013 About Winterberry Group Corporate Strategy Marketing
Investor Presentation
1 Investor Presentation Agenda Overview Consumer Experience Products for Our Customers Nurture and Facilitate the Close Financials Q & A 2 3 Overview Our Goals Win the Hearts & Minds Consumers Exceptional
March 2014. IAB report on Programmatic Trading The Netherlands 2012-2013
March 2014 IAB report on Programmatic Trading The Netherlands 2012-2013 Introduction and summary IAB report on Programmatic trading The Netherlands 2012-2013 2 Introduction Worldwide the Netherlands is
2013 Ad Solutions. Cross Channel Advertising. (800) 296-7104 sales@admedia.com Partnership Opportunities 1. (800) 296-7104 sales@admedia.
2013 Ad Solutions Cross Channel Advertising Partnership Opportunity Partnership Opportunities 1 WHO WE ARE AdMedia works with top agencies and brands to bring digital marketing solutions with our cross
Annual Shareholder Meeting. June 2012
Annual Shareholder Meeting June 2012 Agenda Call to Order; Opening of Polls Introduction of Directors Introduction of Management Introduction of Independent Registered Public Accounting Firm Designation
2016 Media Kit. Simpler Media Group CMSWire.com 2016 Media Kit 1
2016 Media Kit CMSWire is the leading community for professionals focused on optimal customer experiences, progressive digital workplaces and intelligent information management. Simpler Media Group CMSWire.com
www.wipro.com PROGRAMMATIC TRADING - BEST PRACTICES A Guide for Marketers Geetha Palakkad Parameswaran Media & Advertising
www.wipro.com PROGRAMMATIC TRADING - BEST PRACTICES A Guide for Marketers Geetha Palakkad Parameswaran Media & Advertising Table of Contents 03... Introduction 05... Key Concerns of Industry Users using
Beyond Search Engines: The Brave New World of Retargeting Data
Beyond Search Engines: The Brave New World of Retargeting Data Eli Goodman, Media Evangelist, comscore, Inc. @LosBuenos James Green, CEO, Magnetic @jamesangreen *A copy of today s presentation will be
agency capabilities Digital Media Services www.broadstreetinteractive.com 512.275.6227 4107 Medical Parkway # 201 Austin, TX 78756
agency capabilities Digital Media Services Digital Media Services Strategy Budget Recommendations Research Planning Buying Campaign Management AD Serving Creative Social Media Search Marketing U.S. Media
Leveraging Social Media to Grow Your Event. Justin Ramers Director of Social Media
Leveraging Social Media to Grow Your Event Justin Ramers Director of Social Media Agenda What is Social Media? Tools of the Trade Developing a Social Media Strategy Building the Foundation Driving Interaction
CHANGES IN THE PROFESSIONAL SERVICES MARKETING MIX: Traditional vs. Online Marketing
CHANGES IN THE PROFESSIONAL SERVICES MARKETING MIX: Traditional vs. Online Marketing BY SYLVIA S. MONTGOMERY Over 20 years ago, Phillip Kotler, recognized by many as the father of marketing, warned that
Needham Interconnect Conference
Needham Interconnect Conference August 2015 LendingTree, Inc. (Nasdaq: TREE) Forward-Looking Statements Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 The matters contained
Q2 2014 Healthcare IT Market Snapshot
Q2 2014 Healthcare IT Market Snapshot Chase Sanders Managing Director csanders@signalhill.com www.signalhill.com B a l t i m o r e B a n g a l o r e B o s t o n M u m b a i N a s h v i l l e N e w Y o
Internet Marketing Career Report
Internet Marketing Career Report A University of San Francisco Online White Paper Internet Marketing 1 Fast-paced and challenging, internet marketing offers a multitude of career options for those willing
TRANSUNION ADFUEL Audience Buying Guide. The Financial Services and Insurance Industries trusted source for consumer and small business audiences
TRANSUNION ADFUEL Audience Buying Guide The Financial Services and Insurance Industries trusted source for consumer and small business audiences Q4, 2015 TU Adfuel SM Make the Right Impression sm TransUnion
How to acquire high lifetime value (LTV) app users at scale? May 12, 2015
How to acquire high lifetime value (LTV) app users at scale? May 12, 2015 User acquisition management User Acquisition Management (UA) is one of the most crucial parts of integrated app marketing efforts.
Apotek Hjärtat building the leading pharmacy offering in Sweden. Anders Nyberg CEO Apotek Hjärtat
Apotek Hjärtat building the leading pharmacy offering in Sweden Anders Nyberg CEO Apotek Hjärtat 35 Bn SEK Swedish pharmacy market Market split 2014 Sample products Pricing model Channel presence SEK bn
Pilgrim s Pride Corporation
Pilgrim s Pride Corporation (NASDAQ: PPC) Proposal to Acquire Hillshire Brands May 27, 2014 Forward Looking Statements Statements contained in this presentation that state the intentions, plans, hopes,
Cautionary Statement Regarding Forward-Looking Statements
Oracle Buys BlueKai Extends the World s Largest Marketing Cloud with the Leading Data Management Platform to Personalize Marketing Programs and Customer Experience Oracle is currently reviewing the existing
The Evolution of Marketing & Interactive Services and Where Companies Are Investing for Growth
The Evolution of Marketing & Interactive Services and Where Companies Are Investing for Growth SIIA Midmarket Growth Conference presented by Tolman Geffs and Scott Peters, Co-Presidents The Jordan, Edmiston
Top Trends In Digital Marketing And What to Do About Them
Top Trends In Digital Marketing And What to Do About Them Top Trends in Digital Marketing and What to Do About Them Agenda for Date Time Time Time Time Time Time Item One Item Two Item Three Item Four
The Emergence of Internet Marketing. white paper
The Emergence of Internet Marketing white paper Traditional marketing relies on decisions in four basic controllable categories labeled the four P s : Product, Price, Place and Promotion. In this marketing
2015 Fourth Quarter and Full Year Results Acquisition of TransFirst
Acquisition of TransFirst January 26, 2016 2016 Total System Services, Inc. All rights reserved worldwide. > CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This presentation contains statements that
IntercontinentalExchange Fourth Quarter & Year-End 2008. Earnings Presentation February 10, 2009
IntercontinentalExchange Fourth Quarter & Year-End 20 Earnings Presentation February 10, 2009 Forward-Looking Statements Forward-Looking Statements This presentation may contain forward-looking statements
Understanding CRM as a Technology and a Process
#IRCE @FitForCommerce Understanding CRM as a Technology and a Process Karen Humphries Sallick President, The Priority Group Pamela Kruse Director of Ecommerce, XO Group Bernardine Wu CEO, FitForCommerce
IT Services, Cloud and Managed Services M&A Update Q2 2015
Technology and Digital Media Investment Banking + M&A Advisory IT Services, Cloud and Managed Services M&A Update Q2 2015 July 9, 2015 Generation Equity Advisors, LLC 8560 W. Sunset Blvd, Suite 500 West
Evolution of the Marketing Cloud 4.18.2104
Evolution of the Marketing Cloud 4.18.2104 What Trends Are Driving This? IT Spend $2.069 Trillion Customer IT Spend $1 Trillion Company IT Spend $1 Trillion Company IT Spend $1 Trillion 82% Maintenance
2. The New Economy. Outline. Marketing Challenges. Connecting with Customers Directly
Connecting with Customers Directly 2. The New Economy The company s official site provides customers various information Shan-Yu Chou 1 Shan-Yu Chou 2 Outline Marketing Challenges; Major forces driving
ecommerce Industry Outlook 2015.
ecommerce Industry Outlook 2015. JANUARY 2015 Introduction. The global ecommerce industry saw impressive growth in 2014 with goods and services worth $1.5 trillion bought by shoppers via desktops, tablets
Alliance Data NYSE: ADS
Alliance Data NYSE: ADS Third Quarter Results October 22, 2008 Earnings Release October 22, 2008 2 Agenda Company Highlights Full Year Outlook Financial Review Questions and Answers Earnings Release October
CA Community College Public Relations Organization The Evolution of Digital Marketing
CA Community College Public Relations Organization The Evolution of Digital Marketing Brian Kroll / VP West & Strategic Accounts / bkroll@adtaxinetworks.com Agenda The Changing Digital Landscape The Importance
Marketing Automation Checklist for Inbound Marketing & Lead Generation
Marketing Automation Checklist for Inbound Marketing & Lead Generation 2011 Ephor Group 1 (800) 379-9330 www.ephorgroup.com 5353 W Alabama Suite 300 Houston, TX 77056 Ephor Groups provides services (Revenue
How To Grow Your Business
Strategies for Growth in 2012 ebook: Leverage Marketing Automation for Inbound Marketing & Lead Generation 2011 Ephor Group 1 (800) 379-9330 www.ephorgroup.com 5353 W Alabama Suite 300 Houston, TX 77056
Move Investor Presentation
Move Investor Presentation Q4 2013 2013 Move, Inc. All rights reserved. Do not copy or distribute. Disclaimer This presentation contains "forward-looking" statements that involve risks, uncertainties and
What You Need to Know About the Future of Data-Driven Marketing
The Big Picture on Big Data: What You Need to Know About the Future of Data-Driven Marketing By Dr. Charles Stryker So much is being written about Big Data and the huge business opportunities that accompany
Take Online Lead Generation to the Next Level
Take Online Lead Generation to the Next Level 5 Ways to Capture New Market Niches By: Deven Pravin Shah WSI Internet Marketing Consultant Overview Many business owners ask the same questions about capturing
MOBILE AD TRENDS 2015
MOBILE AD S 2015 INNERACTIVE KEY S Inneractive s mobile programmatic platform processes billions of ad requests daily from around the world. We are strong believers in leveraging our data in order to provide
GAIN Capital to Acquire City Index
GAIN Capital to Acquire City Index Creating a Global Leader in Online Trading October 31, 2014 Safe Harbor Statement Forward Looking Statements The forward-looking statements contained herein include,
Alexander Nikov. 8. ecommerce Marketing Communications. Marketing Communications. Outline
INFO 3435 ecommerce Teaching Objectives 8. ecommerce Marketing Communications Identify the major forms of online marketing communications. Explain the costs and benefits of online marketing communications.
AdExchanger Industry Preview 2014
Marketing & Tech Investment Landscape presented by Wilma Jordan, Founder & CEO The Jordan, Edmiston Group, Inc. January 21, 2014 About JEGI The Jordan, Edmiston Group, Inc. ( JEGI ) The Leading Independent
Software and Data Are Reshaping the Advertising Market
THOUGHT LEADERSHIP Software and Data Are Reshaping the Advertising Market APR 2016 Scott Denne, Analyst Matt Mullen, Senior Analyst, Social Business The growth of digital media and mobile connectivity
EMAIL MARKETING TRENDS B2B BENCHMARKS FOR 2015
EMAIL MARKETING TRENDS B2B BENCHMARKS FOR 2015 FIND. NURTURE. CONVERT. Research Conducted by Ascend2 in Partnership with Dun & Bradstreet NetProspex OVERCOMING THE MOST CHALLENGING OBSTACLE TO EMAIL SUCCESS.
NOVEMBER 2011. The Future is Now. How display will drive innovation in search and search retargeting
NOVEMBER 2011 The Future is Now How display will drive innovation in search and search retargeting letter FROM THE president What you re about to read is a convincing case for the future of digital marketing.
State of Marketing Measurement Survey Report
2014 State of Marketing Measurement Survey Report 1 Foreword Welcome to the Ifbyphone 2014 State of Marketing Measurement Survey report. Since we last published our trends on the fast-evolving marketing
Eighth Annual Online Marketing Effectiveness Benchmarks for the Pharmaceutical Industry
Eighth Annual Online Marketing Effectiveness Benchmarks for the Pharmaceutical Industry July 2014 FOR FURTHER INFORMATION, PLEASE CONTACT: John Mangano comscore, Inc. +1 (703) 438-2358 jmangano@comscore.com
Data Management in a Marketing Environment. 2013 Chris Sukornyk
Data Management in a Marketing Environment 2013 Chris Sukornyk Omni-channel marketing Omni-channel marketing is based on the concept of creating personalized, contextually relevant customer experiences
Consumer Engagement Index
Consumer Engagement Index Volume 1 Issue 1 Spring 2014 The Vantage Media Consumer Engagement Index Content and media are being consumed on different devices at a growing rate, while consumers want better
The Rise of Big Data and the Internet. Judy Bahary, SVP, comscore Inc.
The Rise of Big Data and the Internet Judy Bahary, SVP, comscore Inc. Some Big Data Nuggets 92% of the world s data was created in just the past two years Today s smartphone would have been most powerful
12 months 4 quarters 1 goal
12 months 4 quarters 1 goal You know you need to whip your digital marketing game into shape. But you also know budgets are tight. If you're ready to take your online marketing to the next level without
We are a DIGITAL EXPERIENCE AGENCY
We are a DIGITAL EXPERIENCE AGENCY WHO WE ARE DICE LONDON IS A DIGITAL EXPERIENCE AGENCY We work with businesses in all sectors but with a particular speciality in the real money gaming industry. We offer
Filed by Mitel Networks Corporation Pursuant to Rule 425 under the Securities Act of 1933 and deemed filed pursuant to Rule 14a-12 under the
Filed by Mitel Networks Corporation Pursuant to Rule 425 under the Securities Act of 1933 and deemed filed pursuant to Rule 14a-12 under the Securities Exchange Act of 1934 Subject Company: Polycom, Inc.
The Geisheker Group Marketing Firm Overview
The Geisheker Group Marketing Firm Overview Thank you for considering The Geisheker Group, Inc. for your company's marketing needs. The Geisheker Group has earned a stellar reputation for helping businesses
Software industry M&A update
Software industry M&A update Grant Thornton Corporate Finance, Mergers and Acquisitions Summer 2011 U.S. M&A update Software industry M&A activity in the United States remained healthy in Q1 2011, with
AT&T Global Network Client for Windows Product Support Matrix January 29, 2015
AT&T Global Network Client for Windows Product Support Matrix January 29, 2015 Product Support Matrix Following is the Product Support Matrix for the AT&T Global Network Client. See the AT&T Global Network
John Ross, Andy Ladygin, Dayne Jervis Tuck School of Business at Dartmouth November 9, 2015
Strong Cash Flows at a Modest Valuation with an Option on the Seamless Omni-channel Retail Experience of the Future: A Case for Walmart Outperformance over the Next Decade John Ross, Andy Ladygin, Dayne
How To Market In South Africa Through Social Media
THE EFFECTIVENESS OF USING SOCIAL NETWORKING TECHNOLOGY FOR MARKETING IN SOUTH AFRICA Shaheen Khan Anis Mahomed Karodia Abstract The purpose of this article is to investigate and understand the effectiveness
CABLE NATION: What s Driving Digital?
CABLE NATION: What s Driving Digital? OVERVIEW INTERNET BRANDS TV INVESTMENT TV & WEB TRAFFIC TRAFFIC EXAMPLES AUTO TV & REVENUE REVENUE EXAMPLES TV STUDIES CONTACT US OVERVIEW What s Driving Digital?
Neo Consulting. Neo Consulting 123 Business Street Orlando, FL 32805 123-456-7890 info@neoconsulting.com
Neo Consulting 123 Business Street Orlando, FL 32805 123-456-7890 info@neoconsulting.com This sample marketing plan has been made available to clients of BizCentral USA for reference only. All information
DIGITAL MARKETING TECH EVENTS & WEBCONGRESS OFFICIAL GUIDE
2015 DIGITAL MARKETING TECH EVENTS & WEBCONGRESS OFFICIAL GUIDE ABOUT WEBCONGRESS WebCongress is a leading source for digital marketing strategies, business and new trends in the tech industry. With a
Trends in online advertising and content Strategies for online newspapers Executive coaching: Digital Training Academy
Building stronger digital teams Trends in online advertising and content Strategies for online newspapers Executive coaching: Digital Training Academy Danny Meadows-Klue Chief Executive Digital Training
On March 12, 2000, the technology
Market Intelligence were AOL (America Online), EBay, Amazon, Yahoo, Cisco, Nortel, EarthLink, and MySpace.com. During Tech Boom Dejavu? By Anil Tahiliani, CFA, MBA Portfolio Manager, North American Equities
Mastering Digital Marketing Using the Digital Space to Turn Your Club Into a Sales & Marketing Machine
Mastering Digital Marketing Using the Digital Space to Turn Your Club Into a Sales & Marketing Machine The Truth No what your service model is, you need a retail approach to sales and marketing. Before
The study was conducted through a 15-minute online survey and was undertaken by 350 people.
Hoop Group was asked to conduct the 3 rd annual IAB Australian mobile landscape study. The study was first undertaken in 2013, and continued in 2014. The study was conducted through a 15-minute online
MOBILE BUYER SURVEY 2014. February 25, 2014. Rubicon Project All Rights Reserved
February 25, 2014 Rubicon Project All Rights Reserved buyers EXECUTIVE representing SUMMARY more than 100,000 globally. Global mobile advertising spending is forecast to reach $18 billion in 2014, and
Alexander Nikov. 7. ecommerce Marketing Concepts. Consumers Online: The Internet Audience and Consumer Behavior. Outline
INFO 3435 E-Commerce Teaching Objectives 7. ecommerce Marketing Concepts Alexander Nikov Identify the key features of the Internet audience. Discuss the basic concepts of consumer behavior and purchasing
DIGITAL VIDEO 2013 US VIDEO ADVERTISING: FIRMLY ROOTED AND GROWING
DIGITAL VIDEO 2013 US VIDEO ADVERTISING: FIRMLY ROOTED AND GROWING BrightRoll US Video Advertising Report: April 2013 www.brightroll.com 415.677.9222 343 Sansome Street, Suite 600, San Francisco, CA 94104
The Performance Advertising Cloud. Investor Overview. February 2015
The Performance Advertising Cloud Investor Overview February 2015 Safe Harbor This presentation contains forward-looking statements including, among other things, statements regarding financial and other
OPTIMIZE YOUR BUSINESS WITH SUCCESSFUL ONLINE ADVERTISING & ADWORDS GENERATION
OPTIMIZE YOUR BUSINESS WITH SUCCESSFUL ONLINE ADVERTISING & ADWORDS GENERATION 1 Table of Contents 1. Introduction to online advertising and Adwords... 3 2. What should we look out for... 4 3. Diversified
Headwaters MB. pg. 1. Source: Wall Street Research October 2014
Headwaters MB Industry Overview A company s employees are key strategic assets and, as a result, staffing strategies provide significant competitive advantages to employers. The cyclical $416bn global
Marketing Strategy - Anatomy Of An Automated Mobile Newspaper
Analyst Face Off: Big Data or Big Content? Jake Sorofman Research Director, Gartner Martin Kihn Research Director, Gartner Opening Salvos ART Jake Sorofman Research Director, Gartner The Age of Attention-Deficit
AUSTRALIAN ONLINE LANDSCAPE REVIEW MAY 2013
AUSTRALIAN ONLINE LANDSCAPE REVIEW MAY 2013 SIGNIFICANT ENHANCEMENTS TO NIELSEN ONLINE RATINGS HYBRID DATA Summary: May data represents a trend break versus prior months across all metrics for Online Ratings
CREATHEAD OUTSOURCING MANAGEMENT PLATFORM FOR CREATIVE & IT PROFESSIONALS
- manage employees in outsourcing is an advantages for companies - - work by internet is an advantage for freelancers - A platform that facilitates the whole collaborative process and makes the online
Digital Media and Analytics
Digital Media and Analytics How to leverage a powerful new set of techniques for digital media buying and program measurement to drive business results CRM Drives Competitive Advantage We believe market
GTECH Acquisition of IGT
GTECH Acquisition of IGT Creating the World s Leading End-to-End Gaming Company July 16, 2014 Forward-looking Statements This presentation contains forward-looking statements (including within the meaning
Search Evolution. Maps Images Text Blogs Wikis Video Reviews. Personalized Search
Search Evolution Maps Images Text Blogs Wikis Video Reviews Personalized Search How Search Engine Spiders Work Spider-Bot Home Page Fetches ALL Content to add to the Search Engine index Spiders & Rankings
The State of the Internet
The State of the Internet 2 nd Quarter 2012 #SOI12 Agenda 1. The State of the Internet Overview 2. Competition in Online Music 3. Traffic Patterns in Online Video 4. The Changing Face of Social Media 5.