The best-in a row for online video ad-serving platform wix, according to a report from The Globe and Mail.
Wix, the company behind the world’s first live streaming app, launched a new ad-tech strategy last year, aiming to become the premier streaming ad platform for video.
Its advertising tech team also doubled its revenue from last year to $2.3-billion, and it now has the world in the know on how the company’s ad-making technology works.
The ad-streaming company has seen its ad revenue grow by more than 20 per cent to $1.3 billion in the past year.
The Globe also says it was pleased to find out that wix’s new ad tech strategy included a “significant upgrade” to its ad technology from Google’s AdWords, a big deal for the company, which relies on Google to deliver its ad-buying tools.
“Advertisers have seen the impact of wix in its early days, when its video ad system proved to be the most successful online video platform for ad sales,” said Josh Munk, the paper’s executive editor.
“Now it’s clear wix has grown into one of the world of the best-performing video ad services, which is one of its main drivers of continued growth.”
Wix ad tech The Globe’s report says that ad tech giant Wix’s advertising technology team doubled its advertising revenue from the previous year to more than $2 billion.
The new strategy is based on the company looking at its ad tech in terms of performance over time.
“In the past, advertisers relied on the advertising platforms of their preferred publishers,” says the report.
“With wix ad technology, advertisers have the ability to directly control the ad experience.”
The company is also building its own ad technology to deliver a better experience for advertisers.
It is aiming to “take advantage of a new generation of video advertising platform, Wix Live, and offer a more personalized, targeted, personalized ad experience,” it says.
The new ad strategy is also part of an effort to “strengthen Wix,” the Globe says, by “redefining its business and positioning it to become a leader in online video advertising.”
Wexon’s ad tech, which uses proprietary algorithms to identify the most relevant ad, also was the top-performing ad tech for advertisers last year.
“With Wix advertising technology, ad networks can now offer a personalized experience, which means they can tailor their ad to match the audience, the demographic and the brand that is most relevant to their audience,” the company says in the report, adding that Wix is also the only video ad platform with “the ability to dynamically display adverts based on how long the ad has been running.”
The new strategy will also help Wix “develop more robust ad tech solutions that better serve advertisers,” says The Globe.
Wexons ad tech is now a “top performer in ad inventory,” and it has “significantly increased its ad inventory over the past three years,” says Wix.
While Wix has seen big growth over the last three years, its advertising tech still relies on third-party ad tech.
“The industry is changing rapidly,” said the report’s co-author, Nick DePaula, a media analyst with Gartner.
“There’s a lot of competition for the next-generation ad technology.”
Advertising technology companies are in a “competitive arms race” in the online ad market, which has seen an “emotional roller coaster ride” since Facebook announced in 2012 that it would allow advertisers to sell ads to users on the social network’s site.
While Facebook said it was a “bold step forward,” the ad-selling industry is still “thriving,” says DePaulas report.
In April 2016, the Advertising Standards Authority of Canada (ASAC) ruled that Facebook’s ad selling software violated Canadian advertising rules.
It said the software was “not compatible with Canadian law,” as well as “inherently deceptive.”
Facebook responded by saying it would not comply with the ruling and that the company will appeal.