SOURCE: Global

Global

SOURCE: DAX

DAX

October 16, 2017 12:41 ET

Global, the UK Media & Entertainment Group, Acquires AudioHQ to Create World's Largest Audio Advertising Platform

Global launches its DAX ad platform in US; Rebrands AudioHQ as DAX, Digital Audio Exchange

NEW YORK, NY--(Marketwired - October 16, 2017) - Global, the media & entertainment group (global.com/@global), today announced the acquisition of New York-based AudioHQ as it expands its successful digital audio ad sales platform, called DAX, standing for Digital Audio Exchange, into the US. AudioHQ will become part of DAX.

The move creates the world's largest digital audio advertising platform and gives Global, one of the world's leading media & entertainment groups and Europe's largest radio company, a major ad sales and ad tech footprint in the US.

AudioHQ has grown 330% over the past two years and is one of the biggest aggregators of digital audio inventory in the US with offices in New York, Los Angeles, Chicago and Detroit.

Publishers with inventory already on the AudioHQ roster include Slacker, Major League Baseball, TuneIn and SoundCloud. In addition to its primary advertising business, AudioHQ made its first foray into original audio content in 2016 when it partnered with Laurence Fishburne and Larenz Tate to produce Bronzeville. Bronzeville was distributed through Apple, Google Play, SoundCloud, Radio One, TuneIn, Spotify and other platforms.

DAX is recognized as the world's most sophisticated digital audio advertising platform, and the acquisition grows its audience from 130 million to 160 million people worldwide.

"Global launched DAX in the UK in 2014 to offer advertisers a simple way to reach the growing number of people consuming digital audio," said Stephen Miron, Global's group CEO. "In the past three years, demand from advertisers has intensified as the audience has grown, and we've continued to innovate to keep DAX ahead of the market.

"A natural next step for us was to take DAX to the US. AudioHQ is a very impressive business with strong client and publisher relationships and a really great team. DAX has revolutionized the digital audio advertising market in the UK, and we're confident it will be a huge success in the US. For Global, this acquisition is a significant milestone as we enter the US advertising market."

Matt Cutair, AudioHQ CEO and co-founder, will run DAX in the US with chief revenue officer and co-founder Jeff McCarthy. Cutair and McCarthy retain a stake in the business. All AudioHQ team members will join the DAX team.

"DAX has been blazing a trail in Europe, with Global introducing a whole suite of market-leading technical capabilities," said Cutair. "These include everything from 'Listener Insight ID,' which allows advertisers to measure and track the impact of their campaigns, to audience targeting, programmatic capabilities and creative production. Being able to tap into all that innovation is fantastic news for US advertisers and publishers. I'm looking forward to leading the business in the US and working with the Global team."

Global is also continuing to expand its presence in Europe with new offices opening in France and Germany in November. DAX will now operate from new locations in Paris and Hamburg led by David Cooper, Global's head of DAX sales in the EU. Cooper joined Global in July from Spotify where he was director of sales. He reports into Ollie Deane, Global's director of commercial digital.

Notes to editors:

Audience figures for other digital audio platforms:

Spotify: 140 million (June 2017)
TargetSpot: 120 million (website)
iHeart: 100 million (March 2017)
SoundCloud: 88 million (August 2017)
Pandora: 81 million (December 2016)

About DAX:

DAX is the world's largest digital audio advertising platform giving advertisers access to an audience of 160 million people worldwide. Publishers with inventory on DAX include SoundCloud, TuneIn, audioBoom, Deezer, Global's Capital and Radio X and Bauer Media's Kiss. DAX is the world's most sophisticated digital audio advertising platform with unrivalled technical capabilities. DAX teams operate in the UK, US, France and Germany. DAX was developed and launched by Global, the media & entertainment group, in 2014.

About Global:

Global is one of the world's leading media & entertainment groups and Europe's largest radio company. With a portfolio of some of the largest and most respected media brands, events and artists, Global reaches more than 31 million people every week, including more than 25 million on the radio alone. Global has an entertainment division which spans artist management, music publishing, events, and is the second biggest festival company in the UK. Global's headquarters are in London's iconic Leicester Square. Global has more than 1,600 people working at 32 broadcast centers and offices around the UK and the US and in France and Germany. Ashley Tabor OBE is Founder & Executive President, Stephen Miron is Group CEO, Richard Park is Group Executive Director & Director of Broadcasting and Lord Allen is Chairman. Tabor created Global in 2007.
www.global.com
@global

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