Meta Has Shown Entravision the Exit Amongst Other Advertisers, EVC Shares Drop 50%
Yesterday, PRISM AdTech and Media Index laggard, Entravision Communications (EVC) announced Q4 and FY2023 earnings that was mostly overshadowed by sharing Meta Platform’s (META) decision to wind down its global authorized sales partner (ASP) program, by July. While no comment was immediately made by Meta, Entravision mentioned in their announcement, the decision was communicated to the ASP’s, on March 4th. Entravision also included that for FY 2023, it was estimated that Meta’s ASP program represented $23.8M of the company’s $57.7M total consolidated EBITDA and nearly half the company’s total consolidated revenue.
The company cancelled its conference call and will be reviewing its operating strategy and cost structure before providing an update. Currently, META shares are modestly trading up.
Entravision is a leading global advertising, media, ad-tech, and commerce solutions company connecting brands to consumers by representing top platforms and publishers. Their services are anchored by a world-class sales operation, healthy financials, and unique commercial partnerships with industry leaders such as TelevisaUnivision, Facebook, Twitter, Spotify, LinkedIn, TikTok, and Grab, among others. Their service portfolio enables high-performance campaigns while using highly competitive audience reach, cutting-edge mobile programmatic solutions, machine-learned bidding algorithms, and demand-side platforms on a global scale. Entravision’s global commercial footprint is anchored by strategic regional operations in the US, Latin America, Europe, and Asia.
