Showcase |
i-vu SECURES $80 MILLION INVESTMENT TO EXPAND DIGITAL NETWORK IN US MARKET
In one of the largest investments in out-of-home digital media ever seen in the US market, leading interactive television network owner, i-vu has secured $80 million of new funding. This makes i-vu the largest out-of-home digital screen network in the world - with well over 300 per cent growth in one year. This investment will enable i-vu to expand even deeper into the US market this year and beyond.
As a result of the expansion, i-vu is planning to create its own content for the network, developing more powerful digital offerings to advertisers, increasing partnerships with a range of content providers and positioning the network as the leading interactive customer service and management tool for the salon industry.
By the end of the year, i-vu will have installed approximately 7, 000 screens in top producing and qualified Regis, Redken and Toni & Guy hair salons. These middle and upper end salons cater to highly affluent, young professional clients. Ii-vu’s partnership with these leading national beauty experts provides advertisers with multiple touch points within each salon. Traditional 30 second spots, interactive pages and sampling are among the opportunities.
Unlike other out-of-home media opportunities, i-vu is able to update programming each day and has content partnerships with EMI, E!, BBC Worldwide, CBS and ABC. It now enjoys 120 different content streams.
The new funding is provided via General Mediterranean Holdings (GMH Group), which has consolidated assets in excess of $4 billion and owns several media businesses worldwide, including Korad, part of Ogilvy and Mather. GMH Group committed to this funding based upon the growth of i-vu over the past 24 month reporting period.
In response to the investment, i-vu CEO Mike Anstey commented, “i-vu has come of age. It has its own voice and character, which reflects the dynamic lifestyle of its viewers. Advertisers now understand the appeal of its interactive, up-to-the minute programming and data capture capabilities. GMH Group recognizes the value of digital media and particularly i-vu’s unchallenged position in the market and will continue to provide the financial support for us to build on all that we have achieved to date.”
Over the past five years i-vu has established partnerships with some of the leading names in the salon world, including: Robert Cromeans, Rodney Cutler, Yosh for Hair, Allen Edwards and Carlton Salons. It has also attracted advertising clients such as 20th Century Fox, Lexus, CBS, ABC, FOX, BMW, Gillette, GlaxoSmithKline (GSK), L’Oreal, Toyota, Warner Bros and other well known US brands. The new funding will enable it to significantly increase its penetration in the US market reaching 95% of the top 100 DMAs.
GMH Group was founded in 1979 and today is a diverse business group with activities in banking and finance, real estate and construction, hotels and leisure, industrial, trading and pharmaceuticals, communications and IT and aviation. Its 120 companies employ over 7,000 people in Northern Africa, Europe, the Americas, the Caribbean, Asian sub continent and the Pacific Rim. With consolidated assets in excess of US$4 billion, GMH Group brands include Korad, Ogilvy & Mather; Le Royal Hotels chain, part of the Leading Hotels of the world group. and, Unysis buildings, London.
----END----