DailyDOOH

LG Electronics (LG) is introducing its advanced Anti-Discoloration™ technology for outdoor digital signage.

Verified by respected standards and testing organization, UL Solutions, LG’s new tech helps prevent ‘screen-yellowing,’ a common issue for outdoor digital signage products caused by prolonged exposure to sunlight. We are told that this innovative technology simultaneously safeguards display quality and performance stability, ultimately helping extend the lifespan of LG digital signage used in outdoor environments.

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Dubai-based Elevision, a leader in Proptech and DOOH media solutions has announced a strategic partnership with renowned international property developer Oxley marking their debut in the UK where they will introduce advanced resident communication solutions through its digital lift screens and the Elevision CommConnect platform at Oxley’s prestigious Royal Wharf development.

Niall Sallam, Elevision’s CEO told us “Our collaboration with Oxley marks a significant step in our commitment to providing world-class media and communication solutions. Oxley’s extensive property portfolio make them the perfect partner for our expansion into the UK, and this partnership is yet another example of their forward thinking approach when it comes to enhancing every aspect of the resident experience.”

Oxley is widely regarded for its innovative approach and commitment to quality. With a rich history of developing landmark projects, Oxley has established itself as a leader in the property industry. The company’s portfolio includes a diverse range of residential, commercial, and mixed-use developments, each characterised by meticulous attention to detail and a dedication to creating vibrant communities.

Will Young, Head of Property (UK & Ireland) of Oxley Holdings was quoted as saying “The Elevision screens have been a fantastic addition to Royal Wharf, significantly enhancing the management team’s ability to communicate with residents and provide crucial real-time updates. Additionally, these screens offer a valuable advertising platform for the commercial businesses within Royal Wharf, aligning with our vision of fostering a vibrant and connected community.”

Since its inception in Dubai in 2011, Elevision has been at the forefront of providing effective communication solutions for the property sector and innovative Digital-Out-of-Home media assets for advertisers. The company has demonstrated impressive and consistent growth throughout the past decade, increasing the size of its network by an average of 33% year on year.

The Elevision CommConnect platform leverages cutting-edge technology, enabling property partners to create, upload, and display important community messages in real-time, keeping residents engaged and informed. With sustainability at the forefront of the property sector, Elevision’s Commconnect eliminates the need for paper notices, streamlining the entire communication workflow. This innovation significantly reduces the carbon footprint of property managers, transforming what has historically been an inefficient and laborious process into an efficient, eco-friendly practice.

Elevision’s expansion into the UK market underscores the company’s dedication to advancing innovation in the property sector, while bringing a first to market Digital-Out-of-Home media channel that promises to foster stronger connections between advertisers, property partners, and residents alike.

Britain’s best-selling tea brand, Yorkshire Tea, who recentlty brought their renowned ‘properness’ to Australia with a series of dynamic activations, including an engaging pop-up event at Curly Lewis Brewery in Bondi and integrated OOH, social and sampling campaigns starting has used DOOH to react promptly to the Australian Swim Team’s recent success at the Paris Olympics.

The UK’s best-selling tea brand has jumped on the opportunity to highlight its distinct brand personality through a bespoke dynamic Out of Home campaign. When the Australian swim team secured 18 medals (seven Gold, eight Silver, three Bronze) across the swimming events, compared to the Great Britain team who secured only five (one Gold, four Silver), Yorkshire Tea was quick to acknowledging that yes, Aussies are good at swimming!

Zeno Group and Nunn Media Sydney quickly launched an integrated campaign, connecting Yorkshire Tea to Australian cultural moments through PR, experiential, social, DOOH and office sampling. Nunn Media and oOh!media’s innovation and creative hub POLY developed the bespoke dynamic Out of Home copy scheduler to deliver the ultimate contextual relevance at scale. The dynamic messaging includes multiple triggers from day of week, weather and environment, through to cultural and sporting moments.

Ranked as Best Tea Bags by Canstar Blue, Yorkshire Tea’s sales are growing globally 25.3% ahead of the market – and 13.2% ahead of market in Australia – prior to launching this new campaign.

Generative AI startup Memorable AI, who spoke at our ADAi Miami Conference back in April has been acquired by Reddit.

Memorable AI has built technology to help advertisers find the most effective text, images and videos to use in their sponsored messages, and Reddit hopes the acquisition will improve the quality of ads on its service.

“This acquisition allows Reddit to accelerate our work in optimizing, generating, and selecting ad creative to deliver even better results for advertisers,” Reddit Chief Operating Officer Jen Wong said in a statement.

New York-based Memorable AI was only founded in 2021, and uses #AI to help marketers predict how often an ad will lead to a direct action, such as downloading an app or visiting a website. The Memorable AI employees will join Reddit’s advertising team. Reddit did not disclose financial terms of the deal.

This is Reddit’s first since going public in March.

COMMB has released Version 2 of OOH-GPT, an #AI-powered chatbot that provides insights into the Canadian OOH advertising landscape. Initially launched in Q4 2023, OOH-GPT’s Beta version allowed users to ask questions about OOH advertising, resulting in the development of a comprehensive FAQ document based on over 2000 stored conversations.

Version 2 introduces several new features, most importantly a virtual chatbot named BILLBOT that employs Liquid Metal AI technology for enhanced capabilities.

OOH-GPT v2 will be showcased at the upcoming AdAi event on September 24, 2024.

To try OOH-GPT v2, click here. To purchase tickets for AdAi, click here. Reach out to COMMB to receive a member discount on tickets or for sponsorship opportunities.

Leading digital outdoor media company QMS has revealed its first Paris 2024 Olympic partner #3DOOH full motion campaign for Patties Foods, with Four’N Twenty pies lighting up QMS’ brand new digital large format site at Emporium Melbourne.

With the full motion 3DOOH creative developed by QMS’ inhouse creative services team QUBE, Patties has launched its Four’N Twenty “Official Pie of the Australian Olympic Team” campaign.

QMS Chief Sales Officer, Tim Murphy, told us “It’s incredible to be able to partner with such an iconic Australian brand like Four’N Twenty, push the boundaries of DOOH and create a show stopping execution on our newest screen in the heart of one of Australia’s busiest retail precincts. Brought to life by our inhouse creative services team QUBE, this 3DOOH execution is another great example of how our clients are taking full advantage of our market leading digital network to make an impact during the Paris 2024 Olympic Games”.

Running throughout the Paris 2024 Olympic Games, the punchy creative sees a giant 3D hand reach from within the billboard, grab a Four’N Twenty pie and take a bite. The execution is part of Four’N Twenty’s recently launched creative idea “Being a Fan is Hungry Work”, which celebrates those who put sport first no matter what.

Patties Food Group’s Chief Marketing and Growth Officer, Anand Surujpal, said: “Our ambition for the brand is to create iconic moments that capture the attention of Australia, further entrenching us as a heritage brand that continues to evolve with our audiences. Working with OMG’s United, TBWA\Melbourne and QMS’ QUBE team, we jumped at the opportunity to capture the many hearts – and stomachs – passing through Emporium Melbourne. Harnessing the dynamic power of 3DOOH, we’re excited to remind Aussies that our pies are here to support their hunger, no matter what time they are barracking for the green and gold.”

For a video of Four’N Twenty at Emporium Melbourne, please click here.

Reggie and the nice people at DailyDOOH Towers are on a little bit of a Summer Break at the moment.

We will only be posting the odd story if there is anything earth shattering (which you will probably be able to find by browsing above or below this post).

Normal service will be resumed towards the end of August.

I (Reggie) will still be tweeting from time to time cos’ I’m a bird and that’s what I do!

Outbrain (NASDAQ: OB), a technology platform that drives business outcomes through engagement, announced today it has entered into a definitive agreement to acquire Teads, the global omnichannel video platform.

The strategic combination will unite two of the most recognized names in digital advertising to create an end-to-end, omnichannel advertising solution for the open internet. The transaction will combine Outbrain’s AI-driven performance technology with Teads’ leading video and branding solutions, merging the companies’ highly-complementary capabilities into a comprehensive full-funnel solution for advertisers.

The combined company will provide advertisers with unified access to the most engaging and valuable consumer media experiences, from CTV to online shopping. Once the combination is completed, the company will represent a break from established platform players that base their value primarily on views and impressions. In contrast, the combined company plans to focus on delivering more tangible outcomes such as attention, deep engagement, and e-commerce conversions — across the multitude of previously fragmented premium environments on the open internet, including connected TV.

“This is a transformative transaction to establish a true end-to-end, full-funnel platform for the open internet,” said David Kostman, CEO of Outbrain. “The combination of our highly-complementary offerings accelerates our vision to become the preferred partner to deliver meaningful brand outcomes across premium, quality media environments — while scaling the industry-leading offerings Teads is known for. I’m incredibly proud of what our team at Outbrain has created, and strongly believe that with Teads we will build tremendous value for our customers, employees, and partners. I believe this combination and the transaction’s financial structure position Outbrain to deliver significant shareholder value in the years to come.”

“This strategic combination presents vast new opportunities for the advertising industry at large. We’ve built a world-class team at Teads that has focused on driving the best video and branding outcomes, and in the last several years have successfully brought those strengths to CTV,” said Bertrand Quesada, Co-Founder and Co-CEO of Teads.

Teads Co-CEO Jeremy Arditi added: “By joining our expertise in omnichannel video with Outbrain’s strengths in prediction and performance, we are poised to provide our customers and partners with more value than ever before. Having known the Outbrain team for a decade, we know we’re creating an amazing combined company focused on innovation and excellence.”

The transaction reflects the opportunity to revolutionize the advertising landscape by offering a scaled platform that connects direct supply with direct demand, nurturing audiences and optimizing marketing results from discovery to purchase. This combination will address the self-limiting choice between branding and performance that marketers currently face when advertising on the open internet. As a result, the combined company will be well positioned to compete in the estimated — and growing — $175 billion open internet advertising opportunity.

Media owners stand to benefit from robust monetization opportunities across diverse advertiser budgets, providing critical revenue and growth to the world’s premiere journalistic and entertainment outlets.

Key Combined Strengths:

• Creation of one of the largest, direct supply paths across premium environments on the open internet and CTV, expected to reach over 2 billion monthly consumers at a global scale across 50+ combined markets.
• Combination of highly-complementary expertise and product offerings: joining Teads’ deep video and branding capabilities with Outbrain’s leading performance solutions. Direct code-on-page and pixel-on-advertiser-site integrations will create an end-to-end solution that can continuously optimize outcomes.
• Powerful suite of data capabilities, gathered from contextual, publisher environment, and advertiser performance signals — making over 1 billion predictions per second.
• Unique, innovative ad experiences built by creative studio teams, creating new opportunities to tell engaging brand stories across the open internet, such as full-page takeovers, story sequencing from CTV to digital, and more.

Transaction Details:

• Total estimated consideration for the Teads acquisition is approximately $1 billion, on a cash free, debt free basis, including an upfront payment of $725 million, subject to standard adjustments, and a deferred cash payment of $25 million.
• Outbrain intends to finance the transaction with existing cash resources and $750 million in committed debt financing from Goldman Sachs Bank USA, Jefferies Finance LLC and Mizuho Bank, Ltd., subject to customary funding conditions. Outbrain will also issue to Altice 35 million shares of common stock, valued at approximately $169 million based on a one-month volume-weighted average price (VWAP) of Outbrain’s common stock as of July 30, 2024, of $4.82, and $105 million in convertible preferred equity.
• The convertible preferred equity to be issued to Altice will accrue dividends on a quarterly basis at a rate of 10% per annum, payable in cash or payment-in-kind at Outbrain’s option. The initial conversion price is $10.00 per share (subject to customary adjustments). The convertible preferred equity will be a perpetual instrument and may be redeemed by Outbrain in whole, or in part, in cash, prior to the five year anniversary of the issuance, subject to payment of certain premiums, and after the fifth anniversary of issuance without premium. Outbrain may also elect to convert all or a portion of the preferred shares then outstanding after two years, subject to certain share price thresholds.
• The $25 million deferred cash payment will be paid in one or more installments after closing, subject to compliance with certain covenants in the debt financing terms.
• Additionally, Outbrain obtained commitments from Goldman Sachs Bank USA, Jefferies Finance LLC and Mizuho Bank, Ltd. for a $100 million revolving credit facility, a portion of which will be available to pay a portion of the cash consideration for the transaction and related fees and expenses, and which will otherwise be available for working capital and general corporate purposes.
• The transaction is expected to be completed in the first quarter of 2025 and is subject to customary closing conditions, including the receipt of Outbrain stockholder approval and regulatory approvals. The transaction has been unanimously approved by the Boards of Directors of Outbrain and Teads.
• Goldman Sachs & Co. LLC. is acting as lead financial advisor to Outbrain with Jefferies LLC and Mizuho also acting as financial advisors. Meitar Law Offices, Bryan Cave Leighton Paisner and Cravath Swaine & Moore are acting as legal advisors to Outbrain.

Financial Highlights:

• The combined company is expected to generate:
  • Advertiser spend of more than $1.7 billion in 2024E.
  • Adjusted EBITDA of $230 – $250⁽¹⁾⁽²⁾ million based on combined 2024E Adjusted EBITDA of $180 – $190⁽¹⁾⁽²⁾ million plus the impact of $50 – $60 million of year two expected realized synergies.
  • Unlevered free cash flow of more than $150 million⁽¹⁾⁽²⁾ in 2024E, when including the impact of year two expected realized synergies.

• Outbrain is also providing selected preliminary results for the second quarter of 2024, as follows:
  • Ex-TAC Gross Profit of $55 – $57 million⁽²⁾, above the lower end of the previously-issued guidance of $53 million⁽²⁾.
  • Adjusted EBITDA of at least $6 million⁽²⁾, above the upper end of the previously-issued guidance range of $1 – $4 million⁽²⁾.
  • These preliminary results are based on currently available information and do not present all necessary information for a complete understanding of Outbrain’s results of operations for the quarter ended June 30, 2024. Actual results will be reported at Outbrain’s upcoming earnings release, scheduled for August 8, 2024, and may differ from the preliminary results presented above.

oOh!media has won the highly prized long-term contract for Melbourne’s five new Metro Tunnel stations.

The Metro Tunnel will create an end-to-end rail line from Sunbury in the west to Cranbourne/Pakenham in the southeast, featuring bigger and more modern trains and five new stations which will feature unique character to inspire both Melburnians and visitors.

Awarded by Cross Yarra Partnership, a consortium comprising investors Capella Capital (Lendlease), John Holland, Bouygues and John Laing, oOh!media will manage the fully digital small and large format Out of Home network, including installation, operation, maintenance and advertising services.

The Metro Tunnel’s five new underground stations each have retail opportunities and are located in key parts of Melbourne – Arden Station in North Melbourne, Parkville Station in the heart of the Parkville health and education precinct, Anzac Station on St Kilda Rd’s commercial and residential precinct, and State Library and Town Hall stations in the heart of the CBD.

The biggest upgrade of Melbourne’s train network since the City Loop opened over 40 years ago, the Metro Tunnel will provide underground passenger connections to the City Loop at Town Hall and State Library stations. It will include Melbourne’s first tram/train interchange at Anzac Station, and bring rail access for the first time to the city’s health and education precinct in Parkville.

With testing underway, the Metro Tunnel is set to open next year, changing the way people travel around the city and giving passengers new connections and more choice.

Aoife Kealy, director, commercial development and services at Cross Yarra Partnership, said: “The Metro Tunnel is set to transform public transport in Melbourne. We are excited to appoint oOh!media, whose innovative approach to managing Out of Home advertising makes them the ideal partner to engage and reach the thousands of daily passengers using the new stations.”

The addition of Metro Tunnel complements oOh!’s existing rail portfolio in Melbourne and the soon to be launched fully premium digital Sydney Metro and Martin Place station shopping precinct.

Robbie Dery, oOh! chief commercial operating officer told us “Winning the Metro Tunnel contract reflects oOh!’s commitment to investing in strategically important and valuable Out of Home opportunities that connect advertisers with audiences in dynamic, urban environments. With the expansion of our rail network in Melbourne, and Sydney’s Metro, brands can target high value premium audiences at scale across Australia’s two busiest capital cities.”

oOh!’s growing network in Melbourne follows the extension of its 17-year partnership with Victoria’s Department of Transport and Planning for the long-term renewal of Australia’s largest single street furniture contract incorporating approximately 5,000 bus shelters within the CBD and across Greater Melbourne. In early July oOh! announced an additional 10 large format digital signs on the West Gate Freeway, Footscray, Sunshine West, Burwood and Ringwood, Broadmeadows and South Morang.

It is being widely reported that Japanese supermarket chain AEON has adopted an #AI system in an attempt to assess and standardise its employees’ smiles.

The smile-gauging AI system, called ‘Mr Smile’ was developed by Japanese technology company InstaVR and evaluates over 450 elements of employee behavior, including facial expressions, voice volume, and tone of greetings (the announcement was also keen to point out that it has also been designed with ‘game’ elements that invite staff to improve their attitude by challenging their scores).

AEON has said that it has run a trial of the system in eight stores with about 3,400 staff members, and found service attitude improved by up to 1.6 times over a period of three months.

No surorise then that big concerns have been raised about the ethical implications of using technology to enforce ’emotional labor’, potentially infringing on employees’ rights to privacy and authentic self-expression in the workplace.