STRONG Outdoor Increases Investment in Traditional Media Platform with Investment in NYC Premium Taxi Tops
May 30 2019 - 7:57PM
Business Wire
Becomes strategic investor and partner in
Firefly placing its digital bet on the growth of Firefly’s dynamic
smart media platform
STRONG Outdoor, an operating business of Ballantyne Strong, Inc.
(NYSE American: BTN), has announced that it is investing in its
fleet of over 3,200 static taxi tops by doubling its inventory of
Premium Tops.
STRONG Outdoor’s Premium Tops launched in February of 2019. As
the newest static taxi-top displays in New York, STRONG Outdoor’s
Premium Tops provide advertisers the ability to create high
frequency and impactful consumer impressions on the city
street.
“We’re excited to double the size of our Premium taxi top
fleet,” said Ian Greenberg, President of STRONG Outdoor. “In the
few months since we launched this product, advertiser demand has
been tremendous. STRONG Outdoor’s new Premium tops have enabled
brands to stand-out in New York. We believe now is the time to
continue to expand our Premium product offering.”
STRONG Outdoor also announced a partnership with Firefly’s
dynamic smart media platform and became a strategic investor and
partner in Firefly. The digital collaboration with Firefly will
allow STRONG Outdoor to have a digital investment and partnership
in the Firefly team while focusing its sales attention to
traditional and premium taxi tops, new media assets and a newly
created experiential marketing product offering that STRONG Outdoor
will look to expand over the coming months.
“We are excited about the potential for growth in digital
advertising and we believe that Firefly, led by CEO Kaan Gunay, is
the right team and platform to combine with our digital platform in
New York City. We look forward to being significant shareholders in
Firefly and benefiting from the growth in digital at Firefly while
maintaining our significant market presence in non-digital
advertising at STRONG Outdoor,” said Kyle Cerminara, CEO of
Fundamental Global and Chairman of STRONG Outdoor.
About Ballantyne Strong, STRONG Outdoor and Fundamental
GlobalFounded in 1932, Ballantyne Strong, Inc. (NYSE American:
BTN) is a global leader in digital media solutions and cinema
products and services. Through its wholly-owned subsidiaries,
Ballantyne Strong, Inc. is responsible for tens of thousands of
signs and screens globally. STRONG Outdoor, an operating business
of Ballantyne Strong, Inc. controls nearly half of the traditional
and premium taxi top advertising inventory in the New York City
market. STRONG Outdoor entered the New York City market in 2018 by
taking-over roughly half of the traditional and premium taxi top
advertising inventory in the New York City market. Today, STRONG
Outdoor has over 3,200 traditional static tops. Fundamental Global
is Ballantyne Strong, Inc.’s largest shareholder and is an
investment management firm that manages equity, fixed income and
alternative funds and strategies.
About FireflyFirefly connects cities with its dynamic
smart media platform. The company works with taxi companies and
rideshare drivers to install its proprietary advertising displays
atop their vehicles, providing an additional revenue stream to
maximize their drive time. Firefly's technology delivers the right
message at the right time, cutting through the noise of a booming
space and leading to highly effective campaign-engagement. These
proprietary screens are customized and enabled to geo-local
advertising based on driver routes and location. Founded by Kaan
Gunay (CEO) and Onur Kardesler (CTO), Firefly is headquartered in
San Francisco, with offices in New York City, Los Angeles, and
Istanbul. To learn more: Fireflyon.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190530005924/en/
Sales ContactIan Greenbergian@strongoutdoor.com
Media ContactJohn
Schweikertjschweikert@strongoutdoor.com
Investor ContactMark
Robersonmark.roberson@btn-inc.com
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