iHeartMedia announced that it has entered into an agreement to acquire Jelli, Inc., the technology company that powers the SoundPoint programmatic platform.
The Jelli platform is the pioneering technology foundation for programmatic buying and selling of broadcast radio, and this acquisition will enable iHeartMedia to further leverage Jelli’s assets to continue to create for brands a digital-compatible buying platform for broadcast radio that includes targeting and creative optimization based on data and attribution tools compatible with the offerings of the major digital players.
In addition, “Expressway from Katz,” the industry’s programmatic buying ad exchange for the country’s leading radio groups, will continue to remain independently run by Katz, powered by Jelli.
“At iHeart, we believe marketing is both math and magic. The math is in our rich data and insights about users and how they relate to our partners’ products and services – and the magic is the incredible creative ideas we bring to our partners, such as our iconic music events, award shows, influencers, podcasts, social reach and our unique on air promotions. Jelli allows us to do something no other company can do – advertisers can now buy and use our broadcast assets, reach and impact just as they use the major digital players. We now offer heavy data and heavy creative innovation all in one place,” said Bob Pittman, Chairman and CEO of iHeartMedia, Inc.
Jelli also announced that it will be acquired by iHeartMedia in a merger intended to be closed before year-end. Jelli said iHeartMedia has been a strategic partner of theirs for years and a strategic investor.
“By paring iHeartMedia’s reach and multiplatform assets with our cloud-based advertising technology, we are positioned to provide a single platform for advertisers to reach all audiences, no matter where they are consuming audio,” said Michael Dougherty, co-founder and CEO of Jelli. “As audio consumption continues to explode, we are thrilled to be joining the iHeartMedia team, accelerating Jelli’s mission of transforming audio advertising through technology innovation.”
As part of the acquisition, Jelli will continue to operate as a company within iHeartMedia, Inc. led by President and CEO Michael Dougherty and his team. The Jelli division will continue to be based in Silicon Valley and will become iHeartMedia’s primary ad technology company.