Targeting what it sees as an under-served local advertising market, online video ad technology company Mixpo today unveiled Mixpo for Agencies, designed to extend local television ad campaigns to the Web through interactive video display ads called Xspots.
“There is a tremendous opportunity for TV advertisers to extend their local spot and cable strategies and creative to the Web,” Anupam Gupta, president and CEO of Mixpo, said in a prepared statement.
The hurdle, Gupta said in an interview this week with WebNewser, has been cost and complexity.
“Rich media on the local level isn’t happening today because it’s complex and ridiculously expensive,” he said. “We try to make it affordable. We are completely focused on the local video advertising market.”
Advertising and media research firm The Kelsey Group estimates that local TV advertising today is a $24.7 billion market. Digital researcher eMarketer says that while only $505 million currently is spent on Internet video advertising, that number should grow to $5.8 billion by 2013.
Mixpo’s web site features an Xspot Gallery where viewers can see video ads that include interactive images and calls to action. The performance of the Xspot ads can be tracked and measured to provide real-time data.
Among the ad agencies using Xspot are LION New Media, Citrus, BrandMuscle and Media Plus+.
A video demonstrating how Xspot works can be viewed here.