Comscore moves towards alternative currencies

Diving Brief:

  • Comscore reported second-quarter 2022 revenue of $91.4 million, up 4.3% year-over-year from $87.7 million, according to its latest earnings reportdriven by its Cross-Platform Solutions business, which grew 13.2% year-over-year to $39.8 million.
  • This growth is attributed to a rebound in its cinema business and the growth of its TV measurement tools. Key partnerships are also in play, with Discovery, Warner Media, NBC Universal, Horizon Media and Publicis agreeing to try various tools, including those from local television.
  • Comscore expects 2022 total revenue to grow between 5% and 7% more than 2021 totals, according to the report, as it continues to strengthen its measurement tools and market itself as a Nielsen alternative .

Overview of the dive:

Marketers and media companies have sought cross-channel, cross-platform measurement solutions for years, and the opportunity for others to break in grew when the Media Rating Council suspended Nielsen National Television ratings approval last year. As such, Comscore has stepped in to help fill this gap and its efforts, especially through its cross-platform and local media measurement tools, appear to be gaining momentum.

The company said currency trials with Discovery, Warner Media and NBC Universal will continue and have gone well so far. Additionally, Horizon Media recently committed to testing Comscore’s local TV measurement tools ahead of its 2023 planning and purchases, and Publicis is testing Comscore’s first-generation cross-platform planning tool. Its partnership with Gray Media has also expanded, as its local market TV subscriptions will expand into 11 new local markets.

Overall second quarter revenue increased 4.3% from, with a net loss of just $5.1 million compared to $18.5 million in the second quarter of 2021. Credited in part to the success of its cross-platform efforts, the company projected total revenue to grow between 5% and 7%. on 2021.

“The quarter highlights the momentum in our business, particularly in cross-platform solutions, which includes our growing local and national television businesses,” said Comscore CEO Jon Carpenter. who took first place in July, in a press release. “Although there is still work to be done, I am excited and energized by the opportunity ahead.”

Despite a more favorable outlook, Comcast’s Digital Ad Solutions business reported a 1.7% decline in revenue in the second quarter to $51.6 million, which could be attributed to lower ad spend as many fear the possibility of a recession. Still, the company reported several new developments in its digital advertising business, including SiriusXM’s AdWizz integrating Comscore’s cookieless predictive audience tools into its podcasting ecosystem. Comcast has also added the CTV metric to its cross-platform Video Metrix product, according to the revenue report, which includes YouTube sharing metrics in India, Spain, the UK, Italy, France and Germany.

Additionally, the company launched the first phase of its Total Digital UI for its syndicated digital suite. The new platform integrates part of its digital suite and all of its social measurement solutions into a unified dashboard.

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