Adconion Media Group, an independent global audience and content network, announced today its board of directors approved Adconion’s video product, Joost Video Network, to be spun off into a separate standalone business with the intent to form the world’s largest video platform effective immediately. The newly launched Joost, a digital media company, will be dedicated to providing premium branded solutions for advertisers and brand marketers seeking to reach their targeted audience with engaging and high impact in-stream and in-banner video advertising. The new unit will be led by Nick Higgins as executive vice- president, where he was previously the head of global video at Adconion Media Group. Prior to joining Adconion, Higgins was at MSN where he held several senior positions over the last 10 years.
Joost also offers branded entertainment services through its partnership with RedLever, a state-of-the-art, global studio specializing in developing and producing brand-integrated content for the Web. And as a standalone business unit, Joost will benefit from a better-defined, more distinct and expanded role in the video marketplace. The new unit will concentrate on leveraging its core strengths in three primary areas:
– Owned and operated Joost.com which includes pre-roll, in-banner and site skinning capabilities among;
– Exclusive partnerships including exclusive site and inventory representation as well as exclusive content; and
– Premium relationships which includes but not limited to pre-roll and display network, in-banner videos and Joost distributable player
Joost will continue to focus on building its premium video network but will now also increase its exclusive audience and global reach across it’s owned and operated Joost.com, and will continue to sign exclusive site representation deals with leading video and entertainment sites. The new unit will improve its market visibility as an online, brand-centric video provider of choice, and will be able to react even faster to client needs and dynamic market changes.