Business
Perion Reports Second Quarter 2024 Results
75% YoY growth in Retail Media; 42% YoY growth in CTV Advertising; 41% YoY growth in Digital Out of Home (DOOH) Advertising on a proforma basis NEW YORK &
About this update from Perion Network Ltd
[{"type":"text","content":"\n75% YoY growth in Retail Media; 42% YoY growth in CTV Advertising; 41% YoY growth in Digital Out of Home (DOOH) Advertising on a proforma basis\n\n\n NEW YORK & TEL AVIV, Israel--(BUSINESS WIRE)--\nPerion Network Ltd. (NASDAQ & TASE: PERI), a technology leader in connecting advertisers to consumers across all major digital channels, today reported its financial results for the second quarter ended June 30, 2024.\n\n\nTal Jacobson, Perion’s CEO, commented: “We are strategically positioned to tackle an almost $700 billion* fundamental problem in the digital advertising industry. Brand advertisers today struggle with a highly complex omnichannel universe. The greatest challenge they face is identifying, connecting, delivering, and measuring compelling messages across multiple screens and platforms at the right moments to maximize ROI for their budgets.”\n\n\n“Perion’s technology empowers our customers to advertise effectively across the omnichannel universe at scale. This quarter, our technology has been extended to run on YouTube CTV, the second-largest CTV platform in the US. Perion's ability to help brands reach valuable audiences allowed us to add world-class brands, including Walgreens, Ford, Burger King, and Direct Energy, to our customer roster,” Jacobson added.\n\n\n“The acquisition of Hivestack is already bearing fruit and aligns well with our short and long-term strategy. This quarter, the DOOH advertising technology, established through the acquisition of Hivestack in December 2023, showed significant growth of 41%.\n\n\n“I’m pleased to announce that effective August 1, 2024, our current CFO, Maoz Sigron, will be promoted to COO. I am extremely excited about Maoz’s promotion and expanded role at Perion. As a proven leader who has been pivotal to the company’s turnaround in the past seven years, Maoz is well-positioned to manage all aspects of operations and lead the strategic unification of our various operations within Perion, ensuring the company is on the right path to achieving sustainable growth.\n\n\n“I am also pleased to share that our current SVP of Finance, Elad Tzubery, will be promoted to CFO effective August 1, 2024. Elad previously reported to Maoz and has enjoyed increasing responsibilities within our finance department over the last six years. His promotion reflects his deep understanding of our financia...