The upbeat statement focuses very much on the fact that Neo’s expansion plans remain firmly on target for growth, despite cutting its commitment to ASG Media.
Christian Vaglio-Giors, CEO of the Neo Media Group was at pains to point out that ASG was struggling well before Neo, as we wrote back in July, “rode to the rescue of Avanti Screen Media” when he said in the press release “We did a lot of work with the great British team to improve the bottom line but all our efforts and achievements were annihilated by the bankruptcy of Setanta”
It turns out that the closure of Setanta did indeed result in a loss of close to 40% of ASG Media’s revenues which is an interesting final admission considering that at the time of Setanta’s collapse, Avanti management were at pains to point out that they were misquoted in the mainstream media – Media Week said at the time “Although the contract is thought to be worth about 40% of the company’s revenue, Avanti managing director Jamie Ball said Setanta was increasingly less important as a “contribution to Avanti’s bottom line”.” – see also our story ‘Avanti Counts Setanta Losses Or Does It?‘
Christian also said “This, in no way, means that we will not get involved again in the UK market in the future”
Lastly Neo Media Group stressed that it was now to concentrate on those markets and advertising assets that are contributing to the Group’s profitability and that it sees a positive trend on revenue at double digit growth.
About Neo Media Group
Neo Media Group, is one of the leading Digital-out-of Home (DooH) Company in Europe, North America and Asia. With a digital advertising network located at Retail, Shopping Malls and Public Areas, reaching 47 Mio. customer per week, with a presence in Switzerland, Germany, Spain, Portugal, Sweden, Italy, France, Netherland, Poland, United States of America, Canada, China and Indonesia. As pure player in the media digitalization, the Group is also active in the fields IPTV with the company Neo Channels, RoIP with the company iTraxx and with the online DooH aggregation buying platform Bookingdooh. CEO of Neo Media Group is Christian Vaglio-Giors (36) co-founder of the company.