14 May Answer Media Acquires Majority Stake in SpaceMob
Overland Park, KS., May 15, 2018 – Answer Media, LLC announced today it has completed its transaction to acquire a majority stake in SpaceMob, LLC, a fast-growing video production studio focused on helping publishers and brands expand their digital video strategies.
The acquisition allows the two companies to combine forces and expand the amount of engaging, interactive and premium video to the marketplace for publishers and brands.
The rise in online video is apparent with 2.38 billion people expected to watch streaming or downloaded video content this year and ad spending on digital video expected to continue growing at a pace that exceeds TV advertising growth through 2020, both statistics according to eMarketer.
Additional research from Digiday shows a focus in video across digital publishing with 86 percent of publishers surveyed indicating they would increase their digital video output in the year ahead. However, shifting priority to video is not without challenges as indicated by 60 percent of those respondents being less than satisfied with the quality of their company’s production of digital videos.
“The demand for high quality digital video is not slowing anytime soon, so we believe this is the perfect time in our industry to align our goals with the resources and experience Answer media brings to the digital space,” said SpaceMob President Eric Keith. “We are excited to join the Answer Media family and to bring our capabilities of strong story telling and quality video production to all of their platforms.”
As a division of Answer Media, SpaceMob will continue to focus on video production for publishers while expanding to work with more brands where there continues to be a strong shift toward focusing on consumer engagement and essentially acting like a publisher.
“Answer Media has taken a strategic approach of investing in entrepreneurs and fast-growing digital media and video companies,” said Answer Media CEO Loren Wilson. “The SpaceMob team drives incredible engagement for their clients, can do it for far less than the competition and at a time when quality video production is in high demand from both brands and publishers, both large and small.”
About Answer Media
Answer Media has become one of the nation’s most diversified digital media and advertising technology companies. Our primary focus is on solutions for publishers that help progress their businesses in meaningful ways. We own or have a major interest in a number of business units including VideoMosh, a video monetization platform for publishers that produces hundreds of millions of monthly video ad impressions; SpaceMob, a video production studio helping publishers create video content tailored to their brand and audience; Rocket Yield, a one-of-a-kind mediation layer and optimization platform for all embedded video ad units; a collection of owned and operated sites with creative and impactful content for an engaged audience; Capstone Entertainment, a film development, finance, and production company with more than 16 films to its credit; and Yield Nexus, an innovative, data-driven technology company building automated technology used to power ever-evolving media buying models.
SpaceMob is a next generation video production studio focused on helping publishers and brands create affordable, custom video content that engages users across multiple digital platforms. The business was co-founded by two award-winning filmmakers, Eric Keith and David Huffman, and Emmy award winning journalist, Rory Glaeseman. SpaceMob has done video production work for mid-tier, lesser known publishers as well as well-known names in the industry like Time, Inc., Ranker, Fandom and Bonnier.