Wednesday, May 23rd, 2012
NextMedium, an online platform that gives brands the chance advertise on TV, movies and web videos, has sold its product placement division (named Embed) to Newport Coast Investments (NCI).
Embed brokered product placement deals and measured the effectiveness of the campaigns. It cost over $12 million and capital, along with extensive partnerships with NBC, MTV, and BET. All of its assets, software, and intellectual property will now be transferred to Brand Affinity Technologies?a NCI subsidiary. NCI is more than satisfied with this acquisition.
"We continue to look for new and innovative technologies and investment opportunities that extend targeted, measurable advertising to all forms of media," claimed Ryan Steelberg, Managing Director of NCI. "As marketers look for new and accountable ways to reach large audiences, a growing number are turning to product placement which allows them to integrate their brands with and into entertainment to more powerfully connect with consumers."
"Despite the challenging market conditions, we believe that investment in new and innovative advertising platforms and technologies is essential and will provide the basis for future industry growth and increasing advertising effectiveness," asserted Chad Steelberg, Managing Director of NCI. "NextMedium’s scalable and extensible product placement technology platform will provide the tools to significantly leverage and grow the media industry into the future."
