Current Gas Station TV and Verifone Pump Media Management to Lead Joint Venture
SAN JOSE, CA — Gas Station TV (GSTV) and Verifone have announced a 50-50 joint venture that combines the assets and operations of Verifone’s Pump Media division with GSTV. The combined business will operate under the GSTV brand, which is owned by Detroit-based Rockbridge Growth Equity and Falcon Investment Advisors.
According to GSTV, the joint venture will provide marketers with significant reach to a mass audience of 75 million unique viewers every month at more than 18,000 locations in all 50 states, including one-in-three adults 18 years and older, and nearly 31 million millennials.
“We celebrate a milestone today as we formally join two leading media organizations in a powerful partnership,” said Joe Mach, President of Verifone North America. “Under the GSTV umbrella and with Verifone’s influential backing, we will draw on our collective partnerships and experiences to strategically accelerate growth, push the boundaries of technology, and deliver the proven effectiveness of video at the pump.”
Third party analytics have demonstrated that campaigns on the GSTV platform deliver ROI for brands, that include double-digit increases for quick service restaurant visitation, to millions of dollars in incremental consumer packaged goods sales, according to the company.
“Our new joint venture with Verifone is a game-changer for the industry,” said David Leider, President and CEO of the new GSTV. “The scale of GSTV’s monthly unique viewership will compete with the largest cable networks and digital out-of-home platforms, reaching verified consumers when and where they are most receptive to real-time marketing messages. We are making it even easier for ad agencies to embrace gas video media, which provides unrivaled effectiveness in helping brands reach their business goals.”
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