Broadway partners with Canoe
A local software company that provides advertising management software to national cable networks is broadening its services by partnering with Canoe, an advertising technology company focused on delivering dynamic advertising insertion for video on demand.
Broadway Systems, 100 Grandville Ave. SW, Grand Rapids, announced its new partnership with Canoe earlier this month.
Video on demand
In the past, advertisements have been embedded into video-on-demand programming and are essentially locked into the program.
“The commercial just stays there for as long as the show is in the library,” said John Lawrence, software delivery and marketing, Broadway Systems.
Lawrence said the growth of video-on-demand services has begun to dilute linear advertising, creating challenges for advertisers on how to reach viewers and deliver a meaningful advertising campaign.
As a result, advertisers have been looking for a way to update advertising over time and tailor it more effectively.
The answer is dynamically inserted advertisements, which are changeable and can be targeted to consumers.
“A targeted ad can be sent down to the show that is being watched,” Lawrence said.
Canoe has been building a name for itself in the area of dynamic ad placement for a few of years by working with national television programming networks.
Lawrence said the technology is starting to become more mainstream and “people are getting excited about it.”
As a result, his company is evolving alongside its clients by adapting its platform to support the industry changes.
Partnership brings benefits
The new partnership will combine Canoe’s functionality with Broadways Systems’ management software, allowing planners to both send the campaign instructions and receive reporting required for dynamic VOD advertising.
James Ackerman, executive chairman, Broadway Systems, said the company is “thrilled” to provide clients with the ability to manage their “dynamic advertising offerings through the Broadway Systems platform.”
“As viewer habits continue to change, practices like dynamic VOD advertising provide a remarkable means of speaking directly to key demographics, enhancing the experience for viewers, and improving opportunities for networks and advertisers to reach their target audience,” he said.
The new partnership extends the ability of both Broadway Systems and Canoe to meet client needs.
“It’s all compiled as one campaign so our clients don’t have to work with multiple systems to accomplish fulfillment of a particular ad campaign,” Lawrence said.
He said the “tighter integration” gives network clients more flexibility in what they can offer and sell their advertisers.
As for Canoe, it “gives them a better hook to work with these networks and say, ‘Hey, we can tie right into your core business system and exchange information seamlessly.’”
Broadway Systems and Canoe already are working with clients through the new partnership, but Lawrence would not divulge client names at this point.
Broadway Systems has always offered end-to-end advertising management services to its clients.
Lawrence said clients like Fox News, Food Network and Home and Garden Television have been able to manage the entire advertising process using its platform, “everything from the inception of the advertising deal, to creating a schedule that is fed up to play back what the viewers see on the air, and then carrying that to doing all the billing, financial reporting, analytic reporting as to how advertising delivery is being fulfilled, and revenue projections.”
Lawrence said one of the things that he thinks is most exciting about the partnership is that the company is located in Grand Rapids, not Silicon Valley.
“We are looking to grow incrementally from year to year,” he added.
He said the firm, which currently employs 40 people, is mainly looking to add development staff.
He said he expects Broadway Systems will continue to draw people to Grand Rapids with its employment opportunities.
“Grand Rapids has become a tech hotbed with software companies that have popped up over the years,” he said.