Matt Condon

Matt Condon followed up on Nexxen's M&A strategy, asking about key areas or functionalities the company seeks to round out via smaller M&A transactions.

Answer

Ofer Druker, CEO of Nexxen International, stated that Nexxen possesses all necessary technology (DSP, DMP, SSP). The M&A focus is on acquiring activities, clients, or verticals to integrate into the existing platform for additional revenue, rather than acquiring more technology stacks, given the significant integration work already completed.

Matt Condon asked about the new data licensing partnership with Yahoo DSP, the progress of the Trade Desk partnership, the potential size of Yahoo's contribution, and the overall growth potential of data licensing for Nexxen. He also inquired about key areas for future M&A, focusing on rounding out the business or adding functionalities.

Answer

CEO Ofer Druker explained that data licensing, including segments for targeting with partners like Trade Desk and Yahoo, is growing and has 100% net revenue. He highlighted the larger opportunity in licensing raw data for measurement and integrating the Discovery tool for data enrichment. For M&A, Ofer Druker stated Nexxen has a strong tech stack (DSP, DMP, SSP) and is not looking to acquire more tech, but rather client bases, verticals, or activities that can be integrated into their existing platform to generate additional revenues.

Matt Condon from Citizens Financial Group, Inc. asked Barry Diller about the current stage of launching new businesses based on People Inc.'s content and brands, and when these products are expected to be launched.

Answer

Barry Diller, Chairman and Senior Executive of IAC, explained that the 'inversion idea' of creating new businesses from their content and knowledge is a deep, long-term process that started a month or two ago. He sees it as a 'greenfield' opportunity for the 'next forever,' with initial sessions already generating ideas. Neil Vogel, CEO of People Inc., clarified that while the 'real invention' will take time, there is a pipeline of closer-to-core ideas like the People app and My Recipes that will roll out in the coming quarters. Christopher Halpin, COO and CFO of IAC, added that the strength of the brands underpins this opportunity.

Matt Condon asked Barry Diller about the stage of launching new businesses based on People Inc.'s content and brands, and whether these products are expected to be launched in the coming quarters.

Answer

Barry Diller, Chairman and Senior Executive of IAC, described the 'inversion idea' as a long-term 'greenfield' opportunity for inventing new products and businesses from their content and knowledge, which is in its early stages and will take time beyond the next quarter for 'real invention.' Neil Vogel, CEO of People Inc., clarified that a roster of more fundamental, natural ideas like the People app and My Recipes would be rolled out in the coming quarters, ensuring there won't be a 'quiet period.'