Mixpo announced today that it will be expanding its services to advertising agencies, granting even more companies the ability to quickly and painlessly transfer their existing local TV spots to online video ads. After working with media companies like Comcast Spotlight, NBC Local Media and Tribune, Mixpo believes it can replicate its successes for agencies.
According to the president and CEO of Mixpo, Anupam Gupta, this new development is about addressing the demand for TV to Web ad transfers in its earliest stages: “Our hope through our offerings for both sides of the local TV ecosystem is to facilitate a faster growth of the emerging local TV to the Web process.”
Right now, online video advertising is a $505 million market. That number is dwarfed by the $25 billion spent on local TV advertising, according to the Kelsey Group. Still, the Internet is constantly growing and, according to eMarketer data, online video advertising is expected to hit $5.8 billion by 2013.
Mixpo is already on its way to cashing in on the growing market, as evidenced by their announcement last month that they had experienced 300% year-over-year growth. Now, with Mixpo for Agencies, the company is looking to expand its offering of interactive online video display ads, called Xspots, to agencies.
Agencies already taking advantage of Mixpo Xspots include LION New Media, Citrus, and many others.
“Mixpo for Agencies has allowed us to move our TV advertising efforts to the Web through online video,” said Marcia Schoelen, director of production, Citrus, adding that “the production takes just minutes.”
80% of the ad campaigns on Mixpo’s platform began as spots on local television, according to data released by the company last month. Additionally, 1.2 million minutes of ads have been watched through its own platform. Clearly, Mixpo is providing a fruitful service for any media company and advertising agency that wants to reach wider audiences.
