New Innovators: Vidiro

Web tool helps media buyers target YouTube users

Dublin-based tech start-up Vidiro co-founders Simon Factor and Kevin Magee

Dublin-based tech start-up Vidiro co-founders Simon Factor and Kevin Magee

 

Having paid for online advertising campaigns, the last thing companies want is web-surfers hitting the “skip” button instead of viewing their ads. Skips are a major headache for digital marketeers everywhere, but Dublin-based tech start-up Vidiro believes it has the solution. It’s called Ad Radar and it enables media buyers to run better-targeted campaigns on YouTube that ensure hits rather than misses for ad views.

“Our video and audience analytics platform tracks the top 2.5 million YouTube channels to understand what’s hot right now in any given niche,” explains company co-founder Simon Factor.

“Finding the influencers on social media platforms is step one. How you use that knowledge is step two. Addressing online video audiences by aligning your campaign with their interests stops them skipping your ads. If the ads slot seamlessly into the reader experience advertising isn’t seen as intrusive – it becomes part of the experience.”

Factor and fellow co-founder Kevin Magee are founding industry members of the National Centre for Applied Data Analytics Research at UCD.

“We met there and as we discussed some of the challenges we had faced in the utilisation and application of analytics we discovered a mutual interest,” Factor says.

 

The X Factor

The partners set up Vidiro in 2013 and in 2014 the company won a UK competition to build a YouTube analytics system to help The X Factor television show find promising talent on YouTube.

 

“What was to become our first product, Talent Radar, worked really well and we jokingly called it the Justin Bieber algorithm,” Factor says. “We realised that if we could find budding pop stars we could find influencers in any category from cooking to fashion, fitness or sport.”

In the past, TV programming and advertising success have been measured by audience share – a method that has not transferred well to the online environment. However, with online video advertising here to stay and growing rapidly, advertisers need a relevant and accurate performance measurement tool.

“Multichannel networks typically aggregate video content to sell packaged audiences to advertisers on YouTube, mimicking how TV audiences are sold. But the online world is very fragmented, has multiple operators in the value chain, lacks transparency and can be difficult to navigate,” Factor says.

“Our solution offers a quick way to evaluate performance, scale and structure in a way that is familiar to advertisers used to TV ratings systems. It is also delivering completion rates well above the standard geographic and demographic targeting.

“We applied our Ad Radar to place ads against the best-performing You Tube video content and achieved an 80 per cent completion rate and our clients paid less than two cent for each 30 seconds of targeted audience view time.”

 

Experience

Factor and Magee have previous start-up experience, with the latter a former director of engineering for global eLearning firm Smartforce. Factor’s background is in audio visual and digital media and he founded Moving Media Studios in 2003. Vidiro is headquartered at NexusUCD and employs six people.

 

The company’s products are aimed at anyone advertising on YouTube but its key markets are London and New York.

Rather than looking for investors the partners used their own funds to launch their business with help from the Enterprise Ireland competitive start-up fund and its UK equivalent, IC Tomorrow. Start-up costs were in excess of €200,000 and the business is now revenue-generating.

“We purposely avoided the VC route and chose to bootstrap the business which, made it much harder in some ways but at the same time far more satisfying. Our belief is that we can partner with investors to scale our business now that we have a base to work from,” Factor says.

 

The Irish Times Logo
Commenting on The Irish Times has changed. To comment you must now be an Irish Times subscriber.
SUBSCRIBE
GO BACK
Error Image
The account details entered are not currently associated with an Irish Times subscription. Please subscribe to sign in to comment.
Comment Sign In

Forgot password?
The Irish Times Logo
Thank you
You should receive instructions for resetting your password. When you have reset your password, you can Sign In.
The Irish Times Logo
Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards.
Screen Name Selection

Hello

Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards.

The Irish Times Logo
Commenting on The Irish Times has changed. To comment you must now be an Irish Times subscriber.
SUBSCRIBE
Forgot Password
Please enter your email address so we can send you a link to reset your password.

Sign In

Your Comments
We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Standards. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or by filling out this form. New comments are only accepted for 3 days from the date of publication.