AOL to acquire Convertro, reboots Moviefone as content discovery platform
| 08 May 2014
In the wake of announcing its year-end figures, AOL has restructured its Moviefone content discovery product and has agreed to acquire multi-touch attribution modelling technology firm Convertro.
The online giant is to spend $101 million to buy Convertro which provides multi-touch attribution modelling technology to help marketers and agencies maximise their return on advertising spend across online and offline media channels through granular insights into each channel, format, ad creative and audience segment.
This transaction follows the recent announcement of ONE by AOL, a programmatic enterprise platform that will drive multiscreen brand insight, including for linear and connected TV.
"AOL is making advertising easier for marketers and agencies, as well as publishers," said Tim Armstrong, chairman and CEO, AOL. "Our agreement to acquire Convertro demonstrates our continued commitment to bring efficiency to the advertising industry through automation and machine learning. Our focus on the AOL Platforms business has positioned AOL for growth as the trend around programmatic advertising continues to transform the industry."
"Convertro's vision has always been to provide its clients visibility and recommendations on how their advertising investment works and how to improve that return on investment," said Jeff Zwelling, CEO at Convertro. "We believe the future of attribution is applying this data to programmatic buying and automated analysis. Integrating with AOL is going to bring our leading technology into the hands of some of the world's leading and biggest advertisers, and we couldn't be more excited!"
In conjunction with Whalerock, AOL has rebooted Moviefone with a website and apps to help consumers find what they want to watch and where they can watch it — including for television listings.
Moviefone's search function will continue to feature movie show times and ticketing as well, but it will be an all-in-one content discovery platform now. Consumers will be able to find theatres, linear channel listings and streaming services offering movies and television shows. Consumers will also to easily find a particular episode of a specific season of a television series – whether on air, Netflix, Amazon, iTunes or elsewhere – eliminating the experience of searching through different television platforms.
"The line between television and film content blurs more every day," said Lloyd Braun, founder and CEO of Whalerock Industries. "Consumers have a dizzying array of choices in determining what and where to watch their favourite TV shows and movies. We believe the new Moviefone will become an essential tool in helping consumers make that choice."
"We set out to answer a true market need by addressing the universal question: what do I want to watch, and where can I find it? The new Moviefone is a simple and elegant solution to that challenge. And we could not have a better launch partner than Disney's Maleficent – a beloved classic imagined anew, just like Moviefone," added Susan Lyne, CEO of AOL Brand Group.
Disney is partnering with Moviefone to promote its theatrical release Maleficent. The collaboration includes co-branded media placements, custom creative and exclusive content. inShare0