HOLLAND, Ohio, July 13, 2021 /PRNewswire/ -- Velocity, A Managed Services Company that provides IT managed services through network management, voice and data connectivity, along with digital media displays and advertising networks, announced today it has purchased the digital media and signage assets of Cinema Scene from Vision Media, a digital products company, focused on streaming content and physical fulfillment.
This asset purchase includes a digital signage ad network within the lobbies of 227 theaters with 376 screens, digital menu boards in 142 theaters, and 10 story walls in 10 theaters. Additionally, Velocity's cinema lobby initiatives have continued to accelerate since the previously announced partnership with Screenvision Media to deploy a 1,000+ theater, in-lobby digital ad network.
"This asset purchase allows us to build a more significant cinema network, elevate the experience and product for theater owners, and create more opportunities for advertisers to reach moviegoers. In addition, we are looking forward to bringing our best-in-class managed services to exhibitors to create more efficiencies and more savings," said Greg Kiley, Chairman and CEO of Velocity.
This asset purchase bolsters Velocity's position as a DOOH leader with a media portfolio of 25,592 locations and 36,605 screens, including cinema lobbies, grocery, hospitality, bars, c-stores, and lifestyle centers.
"As moviegoers flock back to theaters for the full moviegoing experience, the lobby will play an increasingly impactful role for our advertisers seeking to connect to consumers with their brand messaging before and after the movie. We are excited to grow our lobby footprint within our overall cinema advertising network with our deepening relationship with Velocity that also provides increased comprehensive solutions to our theater partners," said John Partilla, CEO of Screenvision Media.
"We have great respect for the digital media signage business Vision Media has built, and we look forward to leveraging this network to create substantial opportunities for advertisers through our relationship with Screenvision. And, unlocking more value for exhibitors through our managed services," said Joe Ross, Chief Commercial Officer of Velocity.
Velocity has adapted to the changing media environment and captured significant market share in the cinema lobby space through partnerships, acquisitions, and internal development. With this increase of digital media signage assets and opportunities for in-lobby ad sales, Velocity can provide advertisers the ability to deliver more connected campaigns to captivated audiences.
ABOUT VELOCITY Velocity delivers customized IT managed services such as network management, voice and data connectivity, on-site repairs and service, field project rollouts and implementations, free-to-guest TV and Wi-Fi solutions, digital signage and DOOH media solutions, and more in the retail, hospitality, healthcare, and entertainment industries. Founded in 2005, Velocity is a privately held company headquartered in Holland, Ohio. Today, the company has approximately 500 employees, 13 redundant data centers, 5,500+ certified technicians throughout the U.S., and 450 carrier agreements and is a CLEC in all 50 states. Velocity is a proud member of the DPAA. For more information, visit www.velocitymsc.com.
ABOUT VISION MEDIA Vision Media is a digital products company focused on streaming content, marketing, digital distribution with complementary physical fulfillment. As a trusted partner with over 35 years of experience, Vision Media services major motion picture film studios, entertainment guilds, biomedical, and direct-to-consumer partners with best-in-class technology and digital asset products. Find more information, visit www.visionmedia.com.