Nexxen Partners with Vevo to Expand Programmatic Advertising in CTV
Nexxen, a leader in unified advertising technology with deep expertise in video and Connected TV (CTV), has announced a strategic partnership with Vevo, the world’s largest music video network. This collaboration marks a significant milestone for both companies, as Vevo joins forces with Nexxen’s supply-side platform (SSP) to enhance its programmatic advertising capabilities, particularly across CTV.
Expanding Vevo’s Programmatic Footprint Amidst CTV Growth
CTV advertising has seen explosive growth, with U.S. ad spending in the sector expected to reach $26.92 billion by the end of 2024. This surge reflects the broader shift in consumer behavior toward streaming platforms and the increasing importance of targeted, data-driven advertising. Vevo, known for delivering over 25 billion views monthly across television, desktop, and mobile devices, is poised to leverage these trends.
By integrating with Nexxen SSP, Vevo is set to expand its programmatic footprint, granting a broader range of advertisers access to its premium CTV inventory. This partnership will enable Vevo to utilize its vast inventory more effectively, driving additional demand through direct relationships and offering advertisers various deal capabilities and self-service tools to optimize their campaigns. Nexxen’s advanced data capabilities will also enhance Vevo’s audience targeting, further boosting its programmatic monetization efforts.
Enhancing Audience Reach and Monetization in a Booming Market
As the CTV advertising landscape evolves, with over 214 million U.S. viewers expected to access content via CTV in 2024, the demand for premium CTV inventory has never been higher. This collaboration not only allows Vevo to elevate the value of its inventory but also expands Nexxen’s audience reach and enhances the scale of its owned and operated content.
Rob Christensen, Executive Vice President of Global Sales at Vevo, highlighted the importance of this partnership to Street Fight stating, “Marketers need to drive their businesses forward by striking the right balance across all parts of the advertising experience—from channels, to audiences, to inventory.” He emphasized the strategic alignment between Vevo and Nexxen, noting, “As the digital video landscape continues to converge and CTV advertiser spend continues to shift towards programmatic, our partnership with Nexxen is the next step on our continued path of expansion—providing a brand-safe environment for marketers to maximize reach across the globe.”
A Strategic Partnership for the Future of CTV
As the CTV advertising market continues its rapid expansion, the partnership between Nexxen and Vevo represents a forward-thinking approach to leveraging the strengths of both companies. Nexxen’s advanced technology and expertise in CTV, combined with Vevo’s extensive reach and premium content, create a powerful synergy that is set to drive significant value for advertisers and audiences alike.
John Rogers, Vice President of Business Development at Nexxen, expressed enthusiasm about the partnership, stating, “We’re thrilled to be able to count Vevo—an incredibly well-known music video network—among our premium publishing partners. This new partnership expands our audience reach and enhances the scale of our quality owned and operated content.”
This collaboration underscores the importance of strategic partnerships in today’s digital advertising ecosystem, where the ability to adapt and innovate is key to success. By joining forces, Nexxen and Vevo are well positioned to deliver impactful results for brands, connecting them with engaged audiences across multiple platforms.
