Wurl, a streaming video distribution and advertising services provider for connected TVs, reported a 38% quarterly increase in revenue for the second quarter.
Wurl said it launched more 274 new FAST (free ad-supported streaming television) channels during the quarter and that it now has nearly 1,200 channels being distributed to CTV and FAST platforms around the world.
“New channel launches are the main reason for our overall growth; attracting new viewers, driving up hours of viewing and attracting more advertisers,” said Wurl CEO Sean Doherty in a statement. “Most channel launches came from our top 50 customers, who are building on their initial success and are expanding globally. They know we have a proven track record of deploying quickly to accelerate the revenue generating potential of their content.”
The company said that as it launches more channels and attracts more viewers, its ad inventory is also increasing, bringing in more advertisers and increasing overall fill rates. Wurl’s AdSpring service manages routing for ad requests, targeting, insertion and measurement, and during the second quarter platform impressions rose 43% compared to the first quarter of 2021.
Wurl said it has grown the number of CTV and FAST platforms it works with by developing custom “connectors” that support unique specifications like proprietary live video streaming formats, advertising tech and more. During the quarter, the Wurl Network began new streaming platforms integrations with companies including Xiaomi, Zeasn and Tubi.
“The Wurl Network provides connectivity for any content company or streaming application to become part of the global television backbone that we’ve created,” said Doherty. “Since our launch in 2017, we’ve been adding new services that run on the Wurl Network and make our network more useful and valuable for everyone. We have much more in store for this year so watch this space.”