"JW is far superior to their competitors in the space."
The Challenge
Penske has built a media empire with the power of content, and one of its key business objectives is to monetize its inventory of quality video. With a previous video platform partner, however, Penske encountered “massive limitations in terms of implementing programmatic demand,” said Brian Levine, VP of Revenue of Operations. “We could not bring in third-party demand; there was no plug-in to other SSPs or other opportunities to sell inventory,” he added. Penske needed a video tech partner that could significantly expand its monetization opportunities.
The Solution
JW Player worked with Penske to understand their monetization challenges and considerably grow video revenue. With unrestricted access to all demand sources and integrations with programmatic ad technology, Penske could tap into revenue sources beyond its direct sales or its sales from a single SSP. Penske could also take advantage of JW tools to manage and measure ad performance, including metrics like adimpression-to-play ratios and play-to-embed ratios. “JW Player’s ad schedule and analytics were great,” said Dustin Park, Senior Manager of Monetization.
Another contributing factor in improved monetization was JW Recommendations. The intelligence-powered engine deepened viewer engagement and extended the life of video content, providing increased advertising opportunities. According to Levine, “JW Recommendations has been easy to use and straightforward.”
“We get approached by other players in the space, but you guys are above and beyond in product and service,” Levine summed up. “JW is far superior to their competitors in the space.”
The Result
20
% Lift in Ad Revenue
18
x Lift in Plays from Recommendations for Variety
With JW Player’s premium ad technology, “Penske has experienced tons of growth and improved ad revenue,” said Levine. In fact, Penske has seen a 20% lift in ad revenue.
Additionally, Recommendations has led to significant lifts in plays. For example, Penske’s brand Variety saw an incredible 18X uplift in video plays over two months after introducing Recommendations.