Perion Network Q1 2024 Results

Adrian J Cotterill, Editor-in-Chief

Perion Network (PERI), who own Hivestack, announced their Q1 2024 Results earlier this week.

In the earnings call Perion CEO Tal Jacobson aid “The Perion universe is built to connect advertisers with their target audience throughout the entire day, online and in the physical world, such as in-store advertising. We harness the power of dynamic creative optimization to generate demand. We use our technologies in web and search supply, in digital out-of-home, in social, connected TV, and in audio ads. All our technologies are leveraged to create a harmonious blend of consumer engagement” which we thought nicely summed up why the Hivestack acquisition and their wider omnichannel strategy in general.

The highlights were: –

  • YoY Revenue Growth of 9%
  • 108% YoY growth in CTV #Advertising
  • 134% YoY growth in Retail Media
  • 25% YoY growth in DOOH on a proforma basis

Perion General Manager Andreas Soupliotis who was also on the earnings call said “As digital screens replace printed signs and programmatic technology eventually complements direct sales, the stage is set for a massive upside for the rise of programmatic digital out of home. A recent eMarketer study in the United States suggests that 30% of all digital out-of-home advertising transactions will be programmatic by 2025, while 70% will be non-programmatic. That’s an awesome growth story for programmatic digital out of home when we observe that it represented only 3% in 2019. This represents a whopping 969% growth over six years, and it’s not stopping. Extrapolating this trend line could suggest that programmatic digital out of home is on track to represent about 50% of all digital out-of-home transactions in five years. From a marketer’s perspective, this growth is driven by technological advances afforded by programmatic digital out of home on how to reach precise audiences at scale through compelling digital experiences”.

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