News and research before you hear about it on CNBC and others. Claim your one week free trial for StreetInsider Premium here.
MINNEAPOLIS, Oct. 13, 2022 (GLOBE NEWSWIRE) — iMedia Brands, Inc. (“iMedia”) (NASDAQ: IMBI, IMBIL) announced that its advertising arm, iMedia Digital Services (iMDS), has entered into an advertising partnership and content recommendation with Taboola (NASDAQ: TBLA), beginning October 1, 2022. This is the seventh year that Taboola has provided advertising products to iMDS to help drive user engagement and conversion for iMDS advertisers as well as Connexity’s new e-commerce solutions. This new six-year agreement consolidates a ten-year partnership between iMedia and Taboola.
Under the agreement, iMDS will continue to adopt Taboola’s extensive product portfolio, including Taboola Feed, a seamlessly integrated feed that provides readers with personalized content, including video, for a more engaging experience. . iMDS is a long-time user of Taboola Newsroom, an offering that provides unique editorial insights that explain how to create more engaging content and discover new areas of coverage that build readership.
iMDS customers include telecommunications portals, such as Centurylink and Armstrong, as well as owned-and-operated entertainment brands like ShopHQ, ShopBulldog TV, ShopHQ Health and 1-2-3.tv, reaching more than 200 million monthly US users.
“Taboola continues to be an important digital content and advertising partner for us,” said Matt Leardini, President of iMDS, “We appreciate Taboola’s ongoing efforts to improve its platform and stay innovative, most recently with enhancements to its e-commerce capabilities, helping us engage users more, create new e-commerce revenue channels and capitalize on continued innovation in digital advertising.
“iMDS continues to show why they are a leader at the intersection of entertainment, commerce and advertising,” said Adam Singolda, CEO of Taboola. “We have a long and productive history together, where we partnered closely for mutual growth around testing, learning and implementing solutions for their audiences. iMDS takes a truly holistic approach to growth using Taboola products, recommendations, personalization, e-commerce and insights, and we look forward to scaling the decade together.
About iMedia Brands, Inc.
iMedia Brands, Inc. (NASDAQ: IMBI, IMBIL) is a global media company capitalizing on the convergence of entertainment, e-commerce and advertising. The Company owns and operates four television networks, which are ShopHQ, ShopBulldogTV, ShopHQHealth and 123tv. ShopHQ, the company’s flagship television network with a thirty-year history, is distributed nationwide in the United States to more than 90 million homes through its cable, satellite and broadcast affiliate agreements. , and reaches viewers through its social platforms and OTT Ap on Roku, Apple TV, Amazon Fire, and Samsung smart TVs.
iMedia’s common stock trades on the NASDAQ Global Market under the symbol IMBI. iMedia’s 8.5% bonds are also publicly traded on the NASDAQ Global Market under the symbol IMBIL and pay holders interest quarterly at 8.5% in arrears on March 31, June 30, September 30 and September 31. december.
iMDS (iMDS.tv) is the advertising arm of iMedia Brands, Inc. for its four television networks, specializing in engaging shoppers across multi-screen formats, including television, online, social mobile and OTT. iMDS’ flagship product is its Retail Media Exchange™, a leading proprietary advertising auction platform that simultaneously interacts in real time with advertisers, digital publishers, supply-side platforms and demand side to optimize advertising opportunities with consumers.
Taboola (NASDAQ: TBLA) powers recommendations for the open web, helping people discover things they might like. The company’s AI-powered platform is used by digital properties, including websites, mobile devices and apps, to drive monetization and user engagement. Taboola has long-term partnerships with some of the world’s top digital properties including CNBC, BBC, NBC News, Business Insider, The Independent and El Mundo. Over 15,000 advertisers use Taboola to reach over 500 million daily active users in a brand-safe environment. Following the acquisition of Connexity in 2021, Taboola is a leader in powering e-commerce recommendations, generating over 1 million monthly transactions each month. Major brands including Walmart, Macy’s, Wayfair, Skechers and eBay are among the top customers.
Investors:Ken Cooper[email protected](952) 943-6119
Media:[email protected](952) 943-6125
Caution Regarding Forward-Looking Statements
This document may contain certain “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. All statements contained herein that are not statements of historical fact, including statements regarding future revenues and adjusted EBITDA are forward-looking. The Company often uses words such as anticipate, believe, estimate, expect, seek, predict, should, plan, will, or the negative form of such terms and similar expressions to identify forward-looking statements, although all statements prospective do not contain these words. These statements are based on management’s current expectations and, therefore, are subject to uncertainty and changes in circumstances. Actual results may differ materially from the expectations contained herein due to a variety of important factors, including (but not limited to): variability in consumer preferences, shopping behaviors, expenditures and levels of indebtedness; the general economic and credit environment, including COVID-19; interest rate; seasonal variations in consumer purchasing activity; the ability to achieve the most effective product category combinations to maximize sales and margin targets; competitive pressures on sales and sales promotions; prices and gross margins of sales; the level of cable and satellite distribution of the Company’s programming and associated fees or estimated cost savings resulting from contract renegotiations; the Company’s ability to establish and maintain acceptable terms of trade with third-party vendors and other third parties with whom the Company has contractual relationships, and to successfully manage key vendor relationships and shipments and develop key partnerships and proprietary and exclusive brands; the ability to successfully manage the Company’s operating expenses and working capital levels; the ability to remain compliant with the covenants of the Company’s credit facilities; customer acceptance of the Company’s brand strategy and its repositioning as a video commerce company; the ability to respond to changes in consumer buying habits and preferences, as well as changes in technology and consumer listening habits; changes to the Company’s management and information systems infrastructure; challenges to the security of Company data and information; changes in governmental or regulatory requirements; including, without limitation, Federal Communications Commission and Federal Trade Commission regulations, and adverse results of regulatory proceedings; litigation or governmental proceedings affecting the operations of the Company; significant events (including disasters, weather events, or events with significant television coverage) that either cause television coverage to be interrupted or distract viewers from its programming; disruptions in the Company’s distribution of its broadcast network to customers; the Company’s ability to protect its intellectual property rights; the Company’s ability to recruit and retain executives and key employees; the Company’s ability to attract new customers and retain existing customers; changes in shipping charges; expenses related to the actions of activist or hostile shareholders; the Company’s ability to offer new or innovative products and customer acceptance thereof; changes in customers’ television viewing habits; logistics costs, including the cost of fuel and transportation; and risks described from time to time in the Company’s reports filed with the SEC, including, but not limited to, the Company’s most recent annual report on Form 10-K, quarterly reports on Form 10- Q and current reports on Form 8-K. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this announcement. The Company is under no obligation (and expressly disclaims any such obligation) to update or change its forward-looking statements, whether as a result of new information, future events or otherwise.
Source: iMedia Brands, Inc.