Looking to deepen its involvement in programmatic TV, ITN Networks is investing in mobile video platform Torrential Inc.The companies will focus on the development of multiplatform video solutions that combine the scale and quality content of television. ITN says nearly 80% of time spent with video today is derived from traditional, premium linear television content.
Financial terms of the deal were not disclosed.
ITN has media inventory with all major broadcast television stations, as well as national cable, local cable, and satellite inventory providers. It provides marketers with access to TV programs and daypart-specific inventory, including planning, optimization, allocation, trafficking, communications, verification, stewardship, and schedule management.
Local TV stations, with local news content in particular, have been strongly pursuing efforts to expand their mobile video presence. ITN and Torrential cite 2016 estimates where mobile video ad spending is projected to grow 50% to $4 billion, according to eMarketer.
Torrential’s client list includes brands such as Diageo, Dell, Geico, P&G and Papa John’s, and media companies such as Dailymotion, Fox Entertainment, NBCU Telemundo, Weather Channel and USA Today Sports.
Matt Wasserlauf, CEO/co-founder for Torrential, stated: “This is the first ripple of a digital tsunami that will advance the traditional TV industry for everyone.”