Millennial Media reported Q3 earnings after business close today, including updates on its acquisition of competitor Jumptap, its new mobile ad exchange, and Omni Measurement tools.
The mobile ad network's new exchange product, Millennial Media Exchange (MMX), was created through a partnership with AppNexus. More than two dozen buyers including DSPs, agency trading desks and other clients are now trading on MMX, according to CFO Mike Avon, who added that the Exchange was also rolled out in Europe and Asia is next.
“We’ve seen pricing at MMX generally at parity with or better than pricing in our core managed services and we’re looking forward to linking more buyers and sellers in the coming quarters,” Avon said.
Millennial completed the acquisition of Jumptap last week and reported a combined revenue of $86.3 million for the third quarter. The breakdown was $56.1 million from Millennial Media and $30.2 million from Jumptap in Q3 this year, as compared to $47.4 million and $14.6 million in Q3 revenue for 2012, respectively.
“The market for performance is moving rapidly towards programmatic buying,” Palmieri said during the earnings call. “Jumptap offers a mobile-first DSP that handles 45 billion ad requests a month…they have been ahead of us in recent quarters and so we’re glad to have these programmatic buying capabilities.”
Millennial Media also gained Jumptap’s patents, giving it a total of 64 issued patents, which include patents for targeting based on mobile behavior, location, context and demographics.
In addition, Millennial introduced its Omni Measurement tools, a suite of products for measuring the impact of a mobile advertising campaign that includes data on brand lift, foot traffic in stores, total spend and other measurements.
In response to an analyst’s question about what has the company done with the analytics firm Metaresolver since it acquired it back in April this year, Avon said that Metaresolver’s former CEO Seamus McAteer is heading the development of the Omni Measurement suite and is applying Metaresolver’s technology to the suite as Millennnial prepares to roll out additional measurement products in the coming months.