Mobile video advertising provider Rhythm NewMedia has announced a series C round of funding valued at $10, while indicating its interactive video ads average over 425 million monthly impressions as of Q3 alone.
The company was founded in 2005 and says its the largest mobile video ad network around, even though it’s continued to fly under the radar. A reason for that is that it tends to only work with big-name brands and publishers, and actually counts over 100 Fortune 500 companies as clients. Publishers include CBS and Fox; and advertisers include Best Buy and FedEx, to name a few.
The company focuses on pre-roll interactive mobile video ads, and is responsible for many of the ads you already see on iOS and Android applications. The ads served by Rhythm are interactive in the sense that users can tap on something during the pre-roll ad to visit another website, or view a longer video clip like a movie trailer for instance. Serving over 425 million monthly video ad impressions, which the company says is up 30% over Q2, Rhythm has found the sweet spot of mobile video advertising.
As part of its “Q3 2010 Mobile Video Ad Report” released last month, Rhythm covered data showing completion rates for interactive pre-roll video ads remain high at 87%, exceeding online video and even television. In addition, CTRs are 79% higher on display ads that mention “video” as a call to action vs. other similar ads, the company said, and iPad CTRs for pre-roll video ads are 2x or higher vs. iPhone, iPod Touch and Android.
The mobile video ad space will continue heating up, and we’ll likely hear a lot more from Rhythm going forward. Rhythm CEO Ujjal Kohli said his company was “a bit early” entering the space, but that things have really taken off since the iPhone launched.