NEW YORK - DoubleVerify (NYSE: NYSE:DV), a prominent software platform specializing in digital media measurement, data, and analytics, has recently obtained Media Rating Council (MRC) accreditation for Video Viewable Impressions and related viewability metrics within the Connected TV (CTV) environment.
This development enhances DoubleVerify's existing accreditations, which cover a suite of metrics and services in the CTV space, including display and video impressions, video completion metrics, and invalid traffic filtration.
The newly granted accreditation extends to property-level brand suitability, contextual, and Fully On-screen segments for CTV, reinforcing DoubleVerify's commitment to high standards of measurement accuracy and transparency.
As the CTV market grows, DoubleVerify's CEO, Mark Zagorski, emphasizes the importance of this accreditation in providing advertisers with greater confidence in their CTV investments.
Despite the prevalent belief that CTV ads are inherently viewable, DoubleVerify's research indicates that a significant portion of impressions are not seen by viewers, with ads often playing even when TVs are turned off. This issue contributes to substantial advertising waste, estimated at $1 billion annually.
The MRC's Executive Director and CEO, George W. Ivie, commended DoubleVerify for its dedication to quality in measurement and for this latest accreditation, which marks a step forward in addressing viewability concerns in the CTV advertising space.
DoubleVerify first achieved MRC accreditation in February 2013 and has since progressively expanded its accredited solutions. This latest recognition is part of the company's broader efforts to ensure data accuracy and transparency in digital advertising and to support the integrity of ad transactions in the industry.
This announcement is based on a press release statement from DoubleVerify.
InvestingPro Insights
As DoubleVerify (NYSE: DV) continues to enhance its credibility in the digital advertising space with its recent MRC accreditation for CTV viewability metrics, investors are taking note of the company's financial metrics and market position.
With a market capitalization of $5.24 billion and a robust gross profit margin of 81.38% over the last twelve months as of Q1 2023, DoubleVerify showcases its capacity to generate significant earnings relative to its revenue.
One of the InvestingPro Tips highlights DoubleVerify's impressive gross profit margins, which is particularly relevant given the company's focus on expanding its suite of accredited solutions. This level of profitability is a promising indicator for investors who are tracking the company's ability to maintain strong margins amidst its growth initiatives in the CTV segment.
Another notable InvestingPro Tip is that DoubleVerify is trading at a high P/E ratio, currently standing at 71.36. While this suggests a premium valuation, it is important for investors to consider this in the context of the company's growth prospects and the expanding CTV market, which DoubleVerify is actively addressing through its accredited measurement solutions.
Investors looking to delve deeper into DoubleVerify's valuation and performance metrics can find additional InvestingPro Tips at: https://www.investing.com/pro/DV. There are a total of 13 tips available on InvestingPro, offering a comprehensive analysis of the company's financial health and market potential. To gain access to these insights, use the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
The company's commitment to quality and transparency in digital advertising measurements, as evidenced by its recent MRC accreditation, coupled with its strong financial metrics, positions DoubleVerify as a noteworthy entity for investors monitoring the digital media measurement landscape.
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