DOOH network Access 360 gets $12M VC investment
January 5, 2011 by Dave Haynes
“Since acquiring Arena Media Networks in early 2010, our new combined platform— encompassing both in-mall and in-arena networks—has paid off tremendously and we are thrilled with the progress the company is making,” said Art Williams, CEO, Access 360 Media, in the company’s news release. “We are very excited to attract an experienced growth investor like Columbia Capital as we continue down the path of expanding our network organically and exploring acquisition opportunities. The digital out-of-home industry is heading for a period of consolidation, and Access 360 is extremely well positioned now to be a leader and major force in the sector given our strong organic growth rate and improved capital base.”
“We believe digital out-of-home and place-based media provides an increasingly attractive value proposition for advertisers”, said Columbia Capital Partner Jeff Patterson. “As audiences get more difficult to reach in traditional media as a result of increased DVR penetration and fragmentation across so many TV channels, we think advertisers will look for ways to interact with their customers on digital platforms outside the home. Shopping malls and sports stadiums are superb venues where advertisers can take advantage of targeted, rich media advertising with consumers while they are relaxed and receptive to brand messages or close to making purchase decisions. We believe the digital-out-of-home sector is a huge opportunity area for investment. Art has built the right team of experienced executives at Access 360, and we have tremendous confidence in their ability to be at the forefront of the category.
Mission Ventures’ managing partner, David Ryan said: “Access 360 Media’s truly capital-efficient business model and proven track record of making the right business decisions make them an ideal partner for us. We look forward to continued success with the Access 360 team.”
In April of 2010, Access 360 completed the acquisition of Arena Media Networks, creating two distinct but complementary networks. Mallvision is an exclusive partnership with retail developers such as the Simon Property Group, Inc. to program screens in shopping malls across the country’s most desired DMAs.
Not exactly the noisiest bunch in the DOOH sector, you may not have heard a lot about the company. Based in NYC, Access 360 networks has more than 20,000 screens in approximately 100 locations like malls and sports and entertainment venues, with the potential to reach more than 54 million viewers each month. Arena Media Networks digital network, or AMNtv, is billed as reaching more than 100 million passionate fans attending sporting events, concerts and family entertainment events annually.
Good to see fresh money coming into the sector. Columbia Capital has a pretty broad, diverse portfolio in media, and ties into mobile and video streaming (among others) may well help Access 360 in some fashion.