21st Century Fox is paying a a princely sum for TrueX Media. The movie giant has agreed to purchase the online advertising technology company TrueX for close to $200 million. TrueX Media is a firm which licences digital ad products to media companies. These range from Pandora to Fox Broadcasting.
TrueX ad technology allows Web consumers to make the choice to momentarily interact with a full-screen, multifaceted advertisement, rather than looking at a series of standard advertisements whilst streaming video content.
Joe Marchese, the Chief Executive has been an frank critic of the present state of online advertising. He sees the field as being inundated with low-quality ads. This maybe so, as the digital media world struggles with issues, such as the prevalence of ads which cannot be viewed by consumers, along with fraudulent Web traffic. TrueX, on the other hand, offers their ad product as a better option than banner ads.
21st Century Fox are planning to have TrueX operate as a standalone company, rather than be enveloped by 21st Century Fox. the form will be one that will work with media companies across the industry. One of the reasons TrueX was so attractive to 21st Century Fox was its media approach and their respect for premium content business models.
TrueX was founded back in 2006 as SocialVibe. there was a time when the company was focused on delivering ads within social games. They eventually moved toward Web video in mid-2013. This was also a the time when the firm adopted the TrueX name.
It is speculated that Viacom is also one of several big media companies that are considering implementing the TrueX ad technology.
[Image via jiwonchang]