Seeking better market position, online video ad platform TidalTV is rebranding as Videology and seeking a more technology-heavy image.
“To be honest, TidalTV is not a good name,” confessed Scott Ferber, chairman and CEO of Videology. The new name “is more reflective of our core offering -- a screen-agnostic, data-driven approach to video advertising, encompassing both supply-side monetization and demand-side ROI,” he said.
Also this week, Videology is launching a sell-side platform to complement the capabilities currently offered to media agencies. AOL Video has signed on as the first participating publisher.
Launched in late 2007, the Baltimore-based company built its reputation offering video advertising, optimization and yield management services to clients, while its AdOSTM technology uses relevant data to improve ad delivery.
Back then, “we were a different company and video was a different industry,” said Ferber. “Today, video has grown to become much more platform-agnostic.”
“Our focus has always been on technology. However, as the video industry matures, we began to see the need for a more comprehensive technology to serve the entire ecosystem, which drove our expansion into the publishing community," he added.
Videology is competing for a share of a vastly expanding and competitive market. eMarketer estimates that by 2015, 76% of Web users -- or 195.5 million people -- will be watching online video each month. In the same period, the research firm predicts online video advertising spending will surge from $1.97 billion to $5.71 billion.
“While video is not entirely like display, we can learn from lessons of the display world,” Ferber admitted. “Like display, the use of technology to target, aggregate, measure and optimize will prevail and change the role of networks in the ecosystem.”
Videology has been described as an outgrowth of Advertising.com, which Ferber founded with his brother before selling the company to AOL in 2004. Ad.com is best known for facilitating the targeting of banner and display advertising.
“We are certainly proud of our heritage, and our strong roots in using math and science to connect messages with audiences,” Ferber added. “That said, branded video is very different than direct-response display.”
Last year, the company raised about $30 million from existing investors, including New Enterprise Associates, Comcast Interactive Capital and Valhalla Partners.