GROWTH OF DIRECT DIGITAL HOLDINGS' COLOSSUS SSP REFLECTS STRONG RESULTS GENERATED FOR MULTICULTURAL & GENERAL MARKET PUBLISHERS AND LEADING BRANDS
Direct Digital Holdings (Nasdaq: DRCT) reported a remarkable 540% revenue increase in Q1 2022 compared to Q1 2021, attributed to its supply-side advertising platform, Colossus SSP. This follows a substantial growth trend, including a 330% increase from 2020 to 2021. Colossus SSP's strategy emphasizes inclusivity, enabling advertisers to reach diverse audiences and invest in under-represented communities. Notably, clients such as Bayer and the NBA have joined the platform, contributing to an 87% increase in brand engagement.
- Revenue grew by 540% from Q1 2021 to Q1 2022.
- Colossus SSP expanded its publisher inventory, now offering approximately 90 billion impressions monthly.
- Client engagement increased by 87% year-over-year.
- None.
SSP Kicked Off 2022 With Significant Revenue Growth – Q1 2021 vs Q1 2022 Marks
HOUSTON, July 20, 2022 /PRNewswire/ -- Direct Digital Holdings (Nasdaq: DRCT) announced today that its supply-side advertising platform, Colossus SSP, had a strong first quarter, with comparisons between Q1 2021 to Q1 2022 showing a 540 percent surge in revenue. This uptick comes on the heels of year-over-year revenue growing by 330 percent between 2020 and 2021, as well as a triple digit increase the previous year, with the platform's revenue rising by 235 percent between 2019 and 2020. Leadership credits the dramatic growth to the company's commitment to normalize diversity in the field of programmatic advertising – delivering multicultural and general market audiences at scale. In addition, it points to several brands living up to their promises to support under-represented communities in their media buys.
"Colossus SSP's approach has always been one of inclusivity, bringing together a diverse set of audiences – Black, Hispanic, Asian, LGBTQ, and more – alongside general market, to serve as a one-stop-shop for advertisers who want to reach a cross-section of consumers," said Lashawnda Goffin, CEO, Colossus SSP. "Not only has this allowed savvy marketers the opportunity to reach a vibrant range of consumers, but it has helped them increase investment in minority-owned media properties that have often been left out of the programmatic mix. Moreover, by putting their budgets to work to support multicultural voices, these brands are seeing remarkable results in meeting critical KPIs."
The number of brands and media agencies tapping into Colossus SSP's inclusive audience approach rose by 87 percent comparing Q1 2021 to Q1 2022, with clients such as Bayer, HP, and the NBA coming on board.
"At Bayer, we believe everyone should have the opportunity to live the healthiest life possible, and that we have a responsibility to make our vision of Health for All, Hunger for None a reality," said Gary Guarnaccia, Head of Platform & Publisher Investment, Bayer Consumer Health, North America. "Partnering with Colossus SSP and their growing marketplace of diverse content and minority-owned publishers has enabled our in-house digital media buying team to expand our reach to consumers with important information about our healthcare products and brands, such as Aleve, Midol and One-A-Day."
In lockstep with demand, in Q1 2022 Colossus SSP significantly expanded its publisher inventory supply. Currently Colossus SSP makes over approximately 90 billion impressions available each month with a diverse audience marketplace that includes over 13,000 sites and apps.
Blavity Inc, a market leader for Black media, reaching over 100 million millennials per month, began working with Colossus SSP in January 2020 and over the course of the following two years saw a 7-fold increase in revenues derived from the partnership.
"Colossus SSP has proven to be a valuable partner, one that has a deep understanding of publishers – especially multicultural publishers – as well as the media and marketing landscape at large," said Orchid Richardson, Senior Vice President of Digital, Blavity Inc. "After two years of exponential growth, we are on track to see revenues from our relationship with Colossus SSP rise at a steady clip – if not outpace."
"Colossus SSP's rapid growth is a testament to its distinct approach to diversity, technology and the dynamic team that Lashawnda Goffin has been able to build," said Mark Walker, CEO, Direct Digital Holdings. "Marketers are experiencing the benefits through multiple ROI metrics and subsequently publisher partners are experiencing significant growth in revenues. It's a win-win situation."
About Direct Digital Holdings
Direct Digital Holdings (Nasdaq: DRCT) brings state-of-the-art sell- and buy-side advertising platforms together under one umbrella company. The holding group's Sell-side platform Colossus SSP offers advertisers of all sizes extensive reach within general market and multicultural media properties. Its operating companies Huddled Masses and Orange142 deliver significant ROI for middle market advertisers by providing data-optimized programmatic solutions at scale for businesses in sectors that range from energy to healthcare and travel to financial services. Direct Digital Holdings' sell- and buy-side solutions manage approximately 70,000 clients monthly, generating over 90 billion impressions per month across display, CTV, in-app, and other media channels. The company has been named a top minority-owned business by The Houston Business Journal ("HBJ").
About Colossus SSP
Part of Direct Digital Holdings (Nasdaq: DRCT), Colossus SSP is a leading custom supply-side platform (SSP) that delivers a diverse marketplace, enabling programmatic media buyers to connect with multicultural and general market audiences at scale. Colossus SSP's consulting arm provides brands of all sizes with meaningful insights and actionable guidance for reaching curated audiences. For more information, visit www.colossusmediassp.com.
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SOURCE Direct Digital Holdings
