NEW YORK & TEL AVIV, Israel - Perion Network (LON:NETW) Ltd. (NASDAQ:TASE: NASDAQ:PERI), a global technology firm specializing in digital advertising, has partnered with Chinese advertising technology company Way.io to tap into the world's largest digital out-of-home (DOOH) market. This move comes as China's DOOH market is projected to reach $5.2 billion in 2024, according to Statista.
The partnership allows Way.io, which counts Alibaba (NYSE:BABA), Baidu (NASDAQ:BIDU), and Tencent (HK:0700) among its partners, to leverage Perion’s Hivestack Supply Side Platform (SSP) for programmatic DOOH advertising. Hivestack's integration with 16 leading DOOH media owners in China provides Way.io access to an extensive network of over 1 million screens at more than 93,000 sites, capable of generating 203 billion impressions.
For the first time, Way.io's customers will be able to activate programmatic DOOH campaigns both domestically and globally, reaching audiences through a wide array of advertising seasons. This collaboration is part of Perion's strategy to expand its global footprint, which includes recent ventures into Brazil.
Tal Jacobson, CEO of Perion, highlighted the strategic alliance as a significant step forward for China's digital landscape, offering access to global digital DOOH properties. Aileen Ku, General Manager for China at Hivestack, emphasized the partnership's role in helping Chinese brands engage with customers through premium DOOH inventory.
Derek Du, Founder & CEO of Way.io, noted that the partnership enhances Way.io's programmatic outreach and marks its official entry into the DSP+DOOH digital era. The collaboration is expected to introduce innovative media advertising formats and data-driven ad placements.
Perion connects advertisers with consumers across major digital channels via its intelligent HUB (iHUB), which links the company's demand and supply assets. Way.io specializes in programmatic advertising solutions powered by quantitative algorithms, aiming to optimize ad efficiency and performance.
This partnership is based on a press release statement and is part of Perion's and Way.io's efforts to innovate in the global digital advertising space.
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