Tremor Share Discussion Threads

[hammers8] 15/12/2023 17:20

So ‘didn’t know about Alphonso (really???) until joined the bb in October’ but knew about the sale rumors when he phoned the Co ‘last year’….. OOPS

[muthadrucker] 15/12/2023 16:51

I wouldn’t normally engage with charlatans but it’s important to make any unsuspecting prospective investors aware

[midasx] 15/12/2023 16:31

Tremor International Ltd.
Tremor International Ltd.
The partnership aims to bring new opportunities in a growing category to brands and advertisers

NEW YORK, Dec. 15, 2023 (GLOBE NEWSWIRE) -- Nexxen, a global, unified advertising technology platform with deep expertise in video and Connected TV (“CTV”), today announced a partnership between its supply-side platform, Nexxen SSP, and out of home (“OOH”) advertising group Taiv to offer connected TV (“CTV”) OOH opportunities to clients across the advertising ecosystem. The partnership delivers immersive, high impact ad experiences, reaching audiences on the biggest and most prominent screens in sports bars and restaurants across major designated market areas spanning the United States.

Specifically, Taiv’s ad units – strategically positioned alongside premium content, such as live sports – offer an increased level of engagement in high traffic environments. With an average of eight screens per venue and numerous large format displays measuring over 10 feet, this partnership presents an effective new way for advertisers to connect with consumers while they are away from their homes and in more social environments, hitting yet another CTV touchpoint (e.g. out of home). It is one element of Nexxen’s larger CTV OOH offering.

"We’ve always been all in on CTV, and our partnership with Taiv brings broadened reach, increased visibility and enhanced scale to leading brands and advertisers looking to capitalize on CTV OOH formats,” said John Rogers, Vice President, Business Development at Nexxen. “By leveraging Taiv’s extensive network of screens in sports bars and restaurants across the US, our clients have the chance to connect with their audiences in entirely new spaces.”

“We are thrilled to collaborate with Nexxen on expanding our reach in the CTV OOH advertising space,” said Tony Siconolfi, Chief Revenue Officer at Taiv. “Together, we’re creating a dynamic platform to provide compelling marketing messages alongside premium live sports content, and we can’t wait to see how advertisers take advantage of this offering.

[tsmith2] 15/12/2023 16:19

no real resistance to £2.7 mark

[tapa7] 15/12/2023 15:33

Cheers @gadgie

@Muthadrucker
I won't engage on any provocatory and non value adding interactions with you. I wish you good luck with your investments.

[gadgie2] 15/12/2023 15:18

Nexxen SSP Partners with Taiv to Expand CTV OOH Offering

[muthadrucker] 15/12/2023 15:15

90% of what he’s written is in the public domain and can be interpreted as you like. The rest is nonsense

[muthadrucker] 15/12/2023 15:10

I too have had conversations with IR departments so I know exactly what they can and cannot reveal a as ne it’s got nowt to do with closed periods. That’s how I know you’re a charlatan. Offering opinion is fine, claiming it to be defacto from the company is not.

[gadgie2] 15/12/2023 15:09

If only he had taken time to actually read what you have written Hmmmm ... Good on you Tapa7

[muthadrucker] 15/12/2023 14:58

As you say,I don’t know who you are but I do know what you are.

[ragos] 15/12/2023 14:58

Only one thing matter....
tremor has to meet/beat consensus forecast quarter after quarter after quarter.

Then, and only then will we see the share price move up, which is THE ONLY thing relevant to pis.

The institutions can look after themselves, the board (ie ofer) has to look after us.


R

[gadgie2] 15/12/2023 14:47

Thankyou much appreciated :).... IMHO something is brewing

[tapa7] 15/12/2023 14:32

@gadgie2
We didn't ask that question, maybe I missed it if you put it here but in any case with such questions they cannot tell you if is truth, there would be a NDA in place and legal implications of leaking anything.

What they do is they'll usually tell you when it is not truth. Last year I did ask the question when sky news launched rumours that they were exploring a sale and the answer was pretty much along the lines of "No, we are not in any active discussions to sell our business but we are always willing to listen to offers and do what's best for shareholders" - This is usually much easier to say and comes with a lot less legal implications.

[muthadrucker] 15/12/2023 14:20

Seriously! This guy had a conversation with “the company” when they revealed information that is not in the public domain? Lol

[loafofbread] 15/12/2023 14:06

Fantastic.

Thank you.

[tsmith2] 15/12/2023 14:06

thank you Tapa7

[tsmith2] 15/12/2023 14:05

some news out

[wheeze] 15/12/2023 13:53

Thanks Tapa7 for a most comprehensive review. I have upticked your post by way of a small recognition of your time and effort.

[gadgie2] 15/12/2023 13:45

Thankyou excellent summary ...did u mention Teads rumour at all ?

[1gw] 15/12/2023 13:42

Thanks Tapa.

[tapa7] 15/12/2023 13:34

Some highlights from my latest call with Tremor

- No more acquisitions in short/mid term. They believe they have one of the best value propositions out there in the market. They have an SSP (1 of the top10 in the world), CTV ad server, DSP, ACR data, Cross planner tools (unique in the market), so any capital allocation will now be done so that the focus is to simply SELL the current solutions. For instance, working with existing Amobee customers to get those that were using Amobee's DSP but going with for instance with Magnite as an SSP to go all the way from Nexxen's SSP to Nexxen's DSP and get double the take rate rather than just a single take rate for the DSP.
If there was any other acquisition in the very long term, it would be around the demand side so that they could do exactly the same, get them to buy from the SSP all the way to DSP and profit twice as much. Alternatively more partnerships around ACR data but nothing in the mid term. At this point in time they are more interested in continuing existing and future share repurchases.
There's also a big on going focus in shifting advertisers to CTV and help them with the transition from linear to CTV with the cross planner capabilities which is unique in the market. They believe they have the 2nd best DSP platform with CTV capabilities out there, right after TTD.

- Margins will never go back to what they were (almost 50%), the business is likely to settle around the 30-35% zone (currently <30% as I commented sometime ago). Amobee was a money losing business, the opportunity is there to cross sell now but given the biggest revenue stream from Amobee is the display ads, this results in lower margins overall. With that said, their long term goal is not display ads, it's video and ctv revenue.

- Confronted them with the poor numbers and flat FY guidance. They have admitted Q3 was a shocker, CTV performed badly especially compared to peers (I confronted them with pubm for instance having dropped only single digit YoY vs us dropping over 20% YoY in Q3) - the answer is that the drop is believed to be due to advertisers lower budgets and customers dropping out from Tremor's managed services during June and July and because Tremor gets a double take rate on the managed services side when clients back out Tremor loses twice as much as a self service company like a pure ssp or dsp would. There's confidence that now with Amobee fully integrated and the cross planner tool now in place that CTV could pick up momentum again.

- Asked about on going traction, the answer is that in late November they already started seeing new customers coming in and larger enterprise deals coming in. Deals won due to the VIDAA partnership but nonetheless this is still something that will take a little longer. They have been monetising ACR in the US for a while but advertisers are still not much familiar with this data set.

- ACR is an opportunity that can have material impact to financials but to an unknown extent at this stage. Mid term they'll do a combination of both license it to third parties and leveraging it to agencies in exchange for agencies to spend money with Tremor. I have asked if this was strong enough of an opportunity to merit it's own revenue stream or a new reporting segment - for instance Nielsen pretty much lives off this, they have pay for ACR data from things like LG tvs and what not and they make billions from it afterwards. The answer was yes, ACR is definitely attractive to a lot of people and it has the potential to create a data revenue stream and in fact targeting measurement players (I am almost sure they meant Nielsen) are starting to want to pay Tremor to license this ACR data to them and it would make total sense for Tremor to give in and license it. In the case I asked, Nielsen would pay the data set up costs and Tremor would just turn on or off the feed to them and they can do this in any market where Hisense is. So no costs for Tremor, just royalties coming in basically. This coming to fruition would act as a cushion for future shocks in the advertising landscape (as we seen in 2022/23) and would definitely create incremental revenue. They are not wanting to give up their advantage of having this ACR exclusivity but there's definitely something adjacent to it that they may follow up on.
I know we had discussed this here so I took the opportunity to clarify - when does the partnership with VIDAA run out and was told end of 2026 but he wasn't 100% sure.
So to recap, they want to give the ACR to advertising agencies rather than licensing it but only in exchange for those agencies to spend money through their platform, so it will be a weapon. Meanwhile they are also willing to license it to data targeting/measurement companies like Nielsen but not to other adtech companies. Personally, I continue to expect a slow ramp up but in 1-2 years time we could be making millions from this.

- They have been very successful in backfilling the sales roles that deserted the company after merging with Amobee. The new sales team has provided a degree of stability and he seemed confident about the current quarter.

- Buyback is on-going and pending the Israel's court decision. Since the war a backlog of cases was naturally built so there's an expected delay in processing it.

- As requested, I have asked about the Alphonso case and admittedly I didn't even know about this case until I joined this board in October, it was only then that I have seen so many investors worried about it. Anyways, we were told that it should go into trial next year but they expect to reach settlement before the trial. I have asked if this was big enough to result in a positive material impact to the financials, the answer was that they are going after "tens of millions" and it would certainly result in a material win. Alphonso has already remitted $11m to Tremor, so they have clearly acknowledged they breached the contract. Tremor wouldn't go after them if this was as immaterial as $1 or $2m, so for them to drag it this long the outcome their lawyers are after is something "super noticeable for the business" in their words.

- I have asked about the delisting rumours. There's no internal discussions to do anything. If they ever had to do it it would certainly make sense to go with the US listing but there's no effort being put into this in the short or midterm at all, just a rumour.

- I have asked about the on going Google anti trust cases and how they could reshape the online advertising landscape making some companies in the sector triple or quadruple in market cap. This is something they are aware of and it is hard for them to see one possible outcome from the court that could could harm them in any way, but they can see many ways in which it could benefit them. There's definitely a worse case scenario (and I mean worse for Google not for us) where if Google was forced to divest its SSP in 24/25, this could create another $20b/$30b pure SSP giant in the market but Tremor would be very well positioned to capture market share given the integration of its platforms from SSP all the way to DSP. It could certainly level the playground.
Talked about cookies getting phased out and there's limited exposure and limited impact estimated in the financials. Tremor has its unique identifier solutions and eventually the advertisers are just going to have to adopt whatever exists in the market due to no other alternative. Not much more was said.

- Election year next year means there's big hopes for Q3/Q4. Amobee had something called the discovery tool which allows an understanding of what target audiences are consuming across social media, web and tv at the same time. So this kind of data can be absolute gold for politicians who want to know what their target audiences read about and what their interests are and then target them at the same time not just with political random campaign videos and what not but with actually with catered campaign videos that address those very same hot topics that audience reads so much about (like a Tiktok algorithm right?) They didn't have this before so they have really high hopes of being able to sell this to the market in Q4.

Lastly, what I can leave everyone with is that they are anticipating to see growth in 2024, Q1 will be the worse due to seasonality, Q4 the strongest and supported by elections.
In their words "2024 has the potential to be a really good year. We are super excited the street does not have high ambitions estimates on us. We didn't guide 2024 but the street has guided a conservative approach for us. There's different catalysts for us, the VIDAA revenue streams may be able to get noteworthy for us, programmatic continues to grow for us (99% of revenue is now programmatic), theres a much stronger ctv trajectory ahead of us with all our new capabilities and offering in the marketplace, any macro environment benefit can also act as a catalyst for us (I think he refers to ease of rates)"

I think this is enough information and I think I covered the questions that people had put up here.

[upsondowns] 15/12/2023 12:17

Will it close that gap next week I wonder