Gas Station TV (GSTV), the operator of a video network at the gas pump, and Verifone, a payments and commerce solutions company, announced Wednesday (April 12) a 50-50 joint venture that combines the assets and operations of Verifone’s Pump Media division with GSTV, which is owned by Detroit-based Rockbridge Growth Equity and Falcon Investment Advisors.
In a press release, the companies said the combined business will operate under the GSTV brand and deliver 3.3 billion annual impressions through more than 18,000 locations in all 50 states by year’s end.
“We celebrate a milestone today as we formally join two leading media organizations in a powerful partnership,” said Joe Mach, president of Verifone North America, in the press release. “Under the GSTV umbrella and with Verifone’s influential backing, we will draw on our collective partnerships and experiences to strategically accelerate growth, push the boundaries of technology and deliver the proven effectiveness of video at the pump.”
According to the companies, the new GSTV will provide marketers with reach to a mass audience of 75 million unique viewers every month, including one in three adults 18 years and older and nearly 31 million millennials in the United States. National and regional marketers across all industry sectors now have a way to reach valuable, attentive consumers. The companies pointed to third-party research that has shown that campaigns on the GSTV platform deliver ROI for global brands.
“Our new joint venture with Verifone is a game changer for the industry,” said David Leider, president and CEO of the new GSTV, in the same press release. “The scale of GSTV’s monthly unique viewership will compete with the largest cable networks and digital out-of-home platforms, reaching verified consumers when and where they are most receptive to real-time marketing messages. We are making it even easier for ad agencies to embrace gas video media, which provides unrivaled effectiveness in helping brands reach their business goals.”