- Comscore reported Q2 2022 revenue of $91.4 million, up 4.3% year-over-year from $87.7 million, according to its latest earnings report, driven by its Cross Platform Solutions business, which grew 13.2% year-over-year to $39.8 million.
- The growth is attributed to a rebound in its movies business and the growth of its TV measurement tools. Key partnerships are also at play, with Discovery, Warner Media, NBC Universal, Horizon Media and Publicis having agreed to try various tools, particularly those for local TV.
- Comscore expects total 2022 revenue to rise between 5% and 7% higher than 2021 totals, per the report, as it continues to bolster its measurement tools and frame itself as a Nielsen alternative.
Marketers and media companies have been searching for multichannel, multi-platform measurement solutions for years, and the opportunity for others to break in grew when the Media Rating Council suspended Nielsen’s National TV ratings accreditation last year. As such, Comscore has stepped in to help fill that gap and its efforts, namely across its cross-platform and local media measurement tools, seem to be gaining traction.
The company reported that currency trials with Discovery, Warner Media and NBC Universal will continue and have so far gone well. Additionally, Horizon Media recently signed on to test Comscore’s local TV measurement tools in advance of its 2023 planning and buying, and Publicis is testing Comscore’s first generation Cross Platform Planning tool. Its partnership with Gray Media has also expanded, as its local market TV subscriptions will stretch into in 11 new local markets.
Overall Q2 revenue was up 4.3% from, with a net loss of just $5.1 million versus $18.5 million in Q2 2021. Credited in part to the success of its cross-platform efforts, the company predicted total revenue to increase between 5% and 7% over 2021.
“The quarter highlights the momentum in our business, particularly in Cross Platform Solutions, which includes our growing local and national television businesses,” said Comscore CEO Jon Carpenter, who assumed the top position in July, in a release. “While there is still work to be done, I am excited and energized about the opportunity ahead.”
Despite a sunnier outlook, Comcast’s Digital Ad Solutions Business reported a 1.7% revenue decline in Q2 to $51.6 million, which could be credited to the pullback in ad spending as many fear the possibility of a recession. Still, the company reported several new developments in its Digital Ad business, including SiriusXM’s AdWizz integrating the Comscore’s cookie-free Predictive Audiences tools across its podcasting ecosystem. Comcast also added CTV measurement to its Video Metrix Multi-Platform product, per the earnings report, which includes YouTube sharing measurements in India, Spain, the UK, Italy, France and Germany.
In addition, the company launched the first phase of its Total Digital user interface for its syndicated digital suite. The new platform integrates a portion of its digital suite and all of its social measurement solutions into a unified dashboard.