NEW YORK – April 6, 2023 – PadSquad, the high-impact advertising experiences leader, today announced it has acquired patented video technology assets from Source Digital that enable the video content recognition and the real-time delivery of interactive instream video ads. Deal terms are not being disclosed. The news comes less than a year removed from Star Mountain Capital making a significant investment in PadSquad to fuel organic growth and pursue acquisitions.
PadSquad has long been a market leader when it comes to creating and delivering innovative cross-screen rich media advertising. The acquired technology assets enable PadSquad to expand its video offering to deliver large format interactive ads within a publisher’s video content. This exclusive new ad experience, dubbed VidStream+, rounds out PadSquad’s existing Interactive Video product suite to cover all sides of digital video: instream, outstream, and connected TV.
“We now have patented technology that will allow us to enter the digital video instream advertising market with a solution not available anywhere else,” said Daniel Meehan, founder and CEO of PadSquad. “The biggest winners here will be our advertising partners. Our decade plus of experience has taught us that interactive ad formats drive business outcomes. With the unrivaled engagement of our rich media offerings, it’s about time we bring our creative best practices to instream video. We’re confident brands can achieve far greater performance through remarkable instream creative that utilizes interactive components.”
VidStream+ campaigns feature interactive elements that invite consumers to explore ‘Brand Activated Moments’ within online video content. See the demo experience of highly engaging and proven past interactive feature of ‘Product Cards”, which enables the viewer to explore featured products in an overlay of the video ad, while also making the unit shoppable.
“These new tech capabilities bolster our creative toolkit as we reimagine instream advertising experiences for our advertising partners,” said Jennifer Klimek-Gavin, SVP of creative and innovation at PadSquad. “We can now offer the agility, customization and interactivity that has escaped brands looking to market their products using video.”
New research from PadSquad finds that the majority of consumers (80%) are more likely to remember a product being advertised after viewing an interactive video ad, and nearly half (46%) are likely to make a purchase after viewing an interactive video ad. Further, only half of advertisers have tested interactive instream, per a PadSquad survey of hundreds of marketers from agencies and brands. The QSR, automotive and retail industries have been the quickest to embrace VidStream+ as interactive instream video ads have proven to drive sales for early adopters.
For more information about VidStream+, visit: https://padsquad.com/solutions/vidstream
PadSquad is a digital media company wholly focused on high-impact creative. The company’s mission is to enable brands like The Home Depot, Toyota, Kellogg, and PepsiCo and many more to connect to people through remarkable advertising that stimulates the senses and inspires action. With countless award-winning and industry-defining rich ad formats under its belt, PadSquad is widely considered the creativity and innovation leader in digital advertising and has been named to the Inc. 5000 and Financial Times’ lists of Fastest Growing Companies for 2022 and 2023. Learn more at www.padsquad.com.