Opera which makes the Opera browser and the parent of mobile advertising firm Opera Mediaworks just announced Q2 2016 financial results. Revenues during the second quarter totaled $114.4m at a 32% growth rate.
Opera Mediaworks grows revenue
Much of that revenue was being driven by Opera Mediaworks’ Instant-Play HD video. During the quarter, video made up $76.8m or 67% of the company’s revenues. That’s a 23% year-on-year growth rate.
“We’re seeing publishers moving away from standard banners and looking at video as a more premium, higher-eCPM ad unit to help monetize their apps. They want to do less advertising, but make it worth more and drive more monetization – one video can deliver what 20 banner placements can do.”
In addition, Opera Mediaworks has been performing well, maintaining a strong place among the top 1,000 apps in app stores. It now reaches 1.44bn consumers across the globe, up from 1.1bn last year – a 31% increase YOY.
Performance advertising revenues also increased 33% largely due to international expansion and demand for Instant-Play inventory. Brand ad revenue grew 15%.
Opera Mediaworks successfully established new publisher relationships that drove mobile-first apps. The number of publishers across its SDK grew 113% from last year at a $1m run rate.
Programmatic is also on the rise and performed well for Opera, jumping 86% with the help of the Instant Play Exchange (IPX).
“We’re lighting up more video placements in our programmatic exchange and connecting to some of the biggest DSPs that have high-quality brand advertisers looking to make transactions in a more automated fashion. Today, our direct sales force can call on 1,000 or 2,000 brands, but with our programmatic marketplace we can call on 10,000 or 20,000 different brands, which means we’re tapping into more dollars.”