Vista renews Viacom deal
Cinema software company Vista Group International says it has renewed its agreement with Viacom Media Networks to use the Movio Media data platform and marketing campaign solutions under confidential terms.
New York-based Viacom owns entertainment brands including MTV, Nickelodeon, BET, Comedy Central, Paramount Network, VH1, TV Land, Logo, Channel 5 in Britain, Telefe in Argentina and Colors in India that connect with diverse audiences in more than 180 countries.
“This transaction is strategically important to Movio as it continues to emphasise the importance and value of Movio Media to global media companies,” Vista says in a statement.
Viacom first partnered with Movio in March last year to use Movio analytics to provide ultra-targeted advertising campaigns.
Chief financial officer Rodney Hyde says his company isn’t revealing the quantum of the agreement but that it has the possibility to grow into “something material.”
Viacom will be paying on a per-campaign basis so the ultimate value of the agreement will depend on how many campaigns it uses the Movio analytics for.
Part of the proceeds of Vista’s 2014 float were earmarked to buy the remaining 43 percent of Movio that it didn’t already own.
However, Movio’s performance has been mixed with revenue falling short of forecasts.
“I think it would be fair to say that it’s taken a little longer to get to where we want to be,” Hyde says.
Vista will report its annual results for calendar 2018 on Tuesday, Feb. 26.
Vista shares are down 3 cents at $3.97, well above the $2.35 float price and about 40 percent than 12 months ago.
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