Discovery Inc. Makes Investment in OpenAP
On January 10, 2022, Discovery, Inc. (NASDAQ: DISCA, DISCB, DISCK) announced it will become a minority owner of OpenAP, joining FOX, NBCUniversal, and ViacomCBS in this advanced advertising joint venture. This investment strengthens Discovery's role in audience-based advertising, following prior integrations and partnerships, including the launch of XPm. With OpenAP, Discovery aims to improve cross-platform audience buying and contribute to its corporate strategy. OpenAP is projected to achieve a 140% growth in publisher-driven advertising sales for FY 2022, totaling half a billion dollars.
- Discovery's investment in OpenAP enhances its relationship and role in audience-based advertising.
- OpenAP is expected to generate $500 million in advertising sales for FY 2022, marking a 140% year-over-year growth.
- Discovery will join OpenAP's Board of Directors, allowing greater influence on corporate strategy.
- None.
NEW YORK, Jan. 10, 2022 /PRNewswire/ -- OpenAP and Discovery, Inc. (NASDAQ: DISCA, DISCB, DISCK) today announced that Discovery, Inc. will become a minority owner of OpenAP, the advanced advertising company bringing simplicity and scale to audience-based campaigns in television. Discovery joins FOX, NBCUniversal and ViacomCBS in the joint venture.
The investment signals an expansion of Discovery's existing relationship with OpenAP, having integrated with the central TV identity spine, OpenID, in April 2021 and more recently partnering with OpenAP on the launch of XPm, the TV publisher backed cross-platform measurement framework. The commitment to OpenAP furthers Discovery's strategy of building a technical framework that enables cross-platform audience-based buying and creating collaborative support for alternative currency standards. For OpenAP, it will help further its ability to grow the overall market for audience-based advertising and expand the breadth and scale of its services across cross-platform identity, measurement and planning.
Discovery will join OpenAP's Board of Directors with Jon Steinlauf, Chief U.S. Advertising Sales Officer, and Jim Keller, Executive Vice President, Digital Ad Sales and Advanced Advertising, both representing the company. Discovery will be able to contribute to OpenAP's corporate strategy and product roadmap, while gaining further operational and technical efficiencies by activating audiences centrally through OpenAP.
"Discovery is excited to take an active role shaping the future of advanced audience buying," said Jim Keller, Executive Vice President, Digital Ad Sales and Advanced Advertising at Discovery Inc. "Given our current momentum, influence and growth of audience-based sales, we believe Discovery can help further the work OpenAP has been doing to initiate meaningful change in the market."
Discovery's investment follows a year of significant platform growth for OpenAP with half a billion in publisher-driven advertising sales expected to run through OpenAP in Fiscal Year 2022, marking
"Discovery has long been a pioneer of TV entertainment with its iconic portfolio of content and direct-to-consumer experiences people love. The last two years have demonstrated the force of change that can happen when we take an audience-first approach to reimagining TV advertising for media owners, advertisers and consumers alike," said David Levy, CEO of OpenAP. "We are grateful for the increased commitment Discovery is making to work alongside us on this journey of propelling further growth of the marketplace."
In a joint statement, Dan Callahan, Senior Vice President, Data Strategy and Sales Innovation at FOX; Krishan Bhatia, President & Chief Business Officer at NBCUniversal; and John Halley, Chief Operating Officer, Advertising Revenue at ViacomCBS, said: "Discovery's commitment further validates OpenAP's mission and builds on the success and scale of our collective organizations work to build a more advanced model for TV advertising that focuses on audiences. OpenAP has been a catalyst for bringing programmers and marketers together to change the model, and we're proud to now have Discovery join us to accelerate these efforts."
About OpenAP
OpenAP is the advanced advertising company bringing simplicity and scale to audience-based campaigns in television. Powered by a standards-based approach to data activation, we enable advertisers to onboard audiences centrally for use in planning, campaign execution and measurement across the largest footprint of premium video advertising. OpenAP makes it possible for unified ID-based audiences to be used for targeting and measurement across any TV publisher in both linear and digital viewing environments, unlocking transformative insights when using the same audience consistently across all screens. Our technology is open and interoperable, delivering workflow automation and efficiencies on advanced audience campaigns for agencies, brands and publishers. For more information, visit www.openap.tv and follow @OpenAPTV on Twitter and LinkedIn.
About Discovery
Discovery, Inc. (Nasdaq: DISCA, DISCB, DISCK) is a global leader in real life entertainment, serving a passionate audience of superfans around the world with content that inspires, informs and entertains. Discovery delivers over 8,000 hours of original programming each year and has category leadership across deeply loved content genres around the world. Available in over 220 countries and territories and nearly 50 languages, Discovery is a platform innovator, reaching viewers on all screens, including TV Everywhere products such as the GO portfolio of apps; direct-to-consumer streaming services such as discovery+, Food Network Kitchen and MotorTrend OnDemand; digital-first and social content from Group Nine Media; a landmark natural history and factual content partnership with the BBC; and a strategic alliance with PGA TOUR to create the international home of golf. Discovery's portfolio of premium brands includes Discovery Channel, HGTV, Food Network, TLC, Investigation Discovery, Travel Channel, MotorTrend, Animal Planet, Science Channel, and the forthcoming multi-platform JV with Chip and Joanna Gaines, Magnolia Network, as well as OWN: Oprah Winfrey Network in the U.S., Discovery Kids in Latin America, and Eurosport, the leading provider of 3 locally relevant, premium sports and Home of the Olympic Games across Europe. For more information, please visit corporate.discovery.com and follow @DiscoveryIncTV across social platforms.
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