Performance marketing agency Tinuiti has agreed to acquire digital streaming/CTV buying firm Bliss Point Media and its subsidiary, Prospect Point Media, for an undisclosed price.
Bliss Point uses machine learning and algorithmic
media buying to optimize and scale TV and streaming video campaigns for direct-to-consumer companies such as Fabletics, Instacart, Square, Thumbtack and Tonal.
Bliss Point and Prospect Point Media together have more than $500 million in media under management, according to Tinuiti.
Tinuiti -- the largest independent performance marketing agency in the U.S., with media partners including Discover, Disney, NBCUniversal and ViacomCBS -- said the deal will enable it to reintroduce its OTT division as Streaming+.
The rebranded unit will offer scalable, targetable, data-driven optimization across OTT, linear TV, streaming TV and digital audio.
Bliss Point's machine learning technology will be integrated into Tinuiti's suite of AI-enabled marketing intelligence and media activation technology, Mobius, to enhance Mobius' OTT/CTV capabilities and make non-click-based media trackable, attributable, and optimizable.
Bliss Point CEO Sean Odlum will join Tinuiti's executive team and board of directors to play a key role in strategic product development.
Bliss Point expects to generate about $50 million in revenue this year -- up 200% from 2020 -- and the combined companies will likely generate about $250 million in revenue this year, Tinuiti CEO Zach Morrison told The Wall Street Journal.
Last December, private equity investor New Mountain Capital became Tinuiti’s majority owner. Tinuiti, which says its revenue has grown five times since 2017, said it plans more acquisitions, possibly in data, technology and creative capabilities.