NEW YORK, Nov. 16, 2020 /PRNewswire/ -- Open Road Integrated Media (ORIM) today announced financial results for the quarter ended September 30, 2020. There are 55 clients participating in ORIM's Ignition MaaS, from small to mid-sized to top six publishers. On average those clients received 31% more revenue year-to-date than they had earned on the titles before they were placed in the program.
ORIM's MaaS option, which is open to all publishing clients, provides a "white glove" service where ORIM handles all marketing for the client titles. ORIM earns a share of the "uplift" revenue that exceeds the title's previous year's sales.
Clients pay none of the marketing costs—ORIM pays for all advertising and promotion.
The 31% earned by the publisher is net of ORIM's share and a significant increase for titles that consistently have been experiencing 20%-50% decline in revenue.
Through its proprietary tech and data platform ORIM has increased the pool of titles it markets to more than 30,000—providing reader discovery and promotion that the vast majority of titles do not receive.
The system is built to handle hundreds of thousands of titles.
"Every other publisher is trying to cut down the number of titles they work with," said Mary McAveney, Chief Marketing and Revenue Officer. "From what we've seen, a publisher with more than a few thousand titles on their backlist is really lucky if they market 20%. We work all of them and 97% of the titles we take on see an uplift in sales."
Q3 2020 Headlines:
"While the COVID-19 pandemic continued to impact publishing performance, ORIM's continued digital support for clients resulted in strong cash generation for them and for their authors," said McAveney.
Significant growth with a 54% increase in number of titles on the platform over the last nine months as new clients onboarded and current publishers continued to submit more titles.
"ORIM remains focused on our data-driven proprietary technology, which has proven to be more important than ever in this unique ecommerce-focused period. We are supporting discovery and digital marketing, and we are seeing very strong growth across the key indicators of our digital transformation, positioning ORIM's MaaS offerings amongst the largest and fastest growing in the publishing market," said Paul Slavin, Chief Executive Officer of ORIM.
Daniel Shemesh, ORIM's Chief Financial and Operating Officer said, "ORIM remains in a position of financial and strategic strength. We continued to manage our expenses with discipline, and as a result, delivered EBITDA margins significantly exceeding the prior year."
About Open Road Integrated Media
Open Road Integrated Media OR/M is a powerful, tech/data driven, Marketing-as-a-Service (MaaS) business. Using state of the art, proprietary tech/data analytics or team performs critical products with highly scalable solutions. These long-term deals provide extraordinary growth for our partners and allow us to enhance a small piece of the $26 billion-dollar industry.