Veteran entertainment exec Peter Liguori has taken the reins of ad tech firm VideoAmp as executive chairman amid the layoffs of 20% of its workforce in a restructuring.
Liguori, who had already been serving as a board member at VideoAmp, was previously CEO of Tribune Media and also held senior exec posts at Fox Entertainment, FX and Discovery. He replaces Ross McCray, who founded VideoAmp in 2014 and is transitioning to a role as “active founder, board member and shareholder,” according to an official announcement.
VideoAmp is among a crop of new challengers to Nielsen, whose decades-long grip on the measurement business — the wonky but all-important glue of the $60 billion TV ad market — has loosened in recent years. Startups like VideoAmp are jockeying for legitimacy while spending heavily on executive talent and technology, against a backdrop of cord-cutting and viewership atomization.
VideoAmp has set deals recently with Amazon, Disney, YouTube, Warner Bros. Discovery, Meta, NBCU, Paramount and other programmers. The company says more than $1 billion is slated to be measured and guaranteed on its currency in 2024 from more than 1,000 advertisers.
Along with Liguori’s new role, former Nielsen senior executive Peter Bradbury has come aboard VideoAmp in the new role of Chief Commercial and Growth Officer. The company also made a number of other executive appointments and also disclosed that it is laying off roughly 20% of its workforce in the restructuring.
Tony Fagan and Josh Hudgins have been promoted to the roles of President, Technology and Strategy, and Chief Product Officer, respectively. Both are taking on increased responsibilities alongside the remainder of the C-Suite, which includes CFO Paul Ross, Chief Marketing Officer Jenny Wall and Chief People Officer Marisa Peters, and Chief Data Officer Hari Sankar, who oversees revenue operations.
“Pete Bradbury’s addition to our team represents not only VideoAmp’s commitment to solidify our hold as the new currency standard, but it also showcases the transformation of our strategy to focus and serve the industry’s client base with a well respected and trusted industry leader,” Liguori said. “Pete’s decades of advertising, measurement and deep connections across the industry will fast-track us to serve and provide winning solutions for the industry’s measurement needs. His proven record of driving high levels of client satisfaction while attracting top-tier talent has been a formula for sustained success and we are delighted to have him join the VideoAmp team at such a pivotal moment in our history.”
McCray called stepping down from leading the company “an extremely hard and emotional decision” but one that he had long anticipated.
Source link