Becomes strategic investor and partner in Firefly placing its digital bet on the growth of Firefly’s dynamic smart media platform
NEW YORK—(BUSINESS WIRE)—STRONG Outdoor, an operating business of Ballantyne Strong, Inc. (NYSE American: BTN), has announced that it is investing in its fleet of over 3,200 static taxi tops by doubling its inventory of Premium Tops.
STRONG Outdoor’s Premium Tops launched in February of 2019. As the newest static taxi-top displays in New York, STRONG Outdoor’s Premium Tops provide advertisers the ability to create high frequency and impactful consumer impressions on the city street.
“We’re excited to double the size of our Premium taxi top fleet,” said Ian Greenberg, President of STRONG Outdoor. “In the few months since we launched this product, advertiser demand has been tremendous. STRONG Outdoor’s new Premium tops have enabled brands to stand-out in New York. We believe now is the time to continue to expand our Premium product offering.”
STRONG Outdoor also announced a partnership with Firefly’s dynamic smart media platform and became a strategic investor and partner in Firefly. The digital collaboration with Firefly will allow STRONG Outdoor to have a digital investment and partnership in the Firefly team while focusing its sales attention to traditional and premium taxi tops, new media assets and a newly created experiential marketing product offering that STRONG Outdoor will look to expand over the coming months.
“We are excited about the potential for growth in digital advertising and we believe that Firefly, led by CEO Kaan Gunay, is the right team and platform to combine with our digital platform in New York City. We look forward to being significant shareholders in Firefly and benefiting from the growth in digital at Firefly while maintaining our significant market presence in non-digital advertising at STRONG Outdoor,” said Kyle Cerminara, CEO of Fundamental Global and Chairman of STRONG Outdoor.
About Ballantyne Strong, STRONG Outdoor and Fundamental Global
Founded in 1932, Ballantyne Strong, Inc. (NYSE American: BTN) is a global leader in digital media solutions and cinema products and services. Through its wholly-owned subsidiaries, Ballantyne Strong, Inc. is responsible for tens of thousands of signs and screens globally. STRONG Outdoor, an operating business of Ballantyne Strong, Inc. controls nearly half of the traditional and premium taxi top advertising inventory in the New York City market. STRONG Outdoor entered the New York City market in 2018 by taking-over roughly half of the traditional and premium taxi top advertising inventory in the New York City market. Today, STRONG Outdoor has over 3,200 traditional static tops. Fundamental Global is Ballantyne Strong, Inc.’s largest shareholder and is an investment management firm that manages equity, fixed income and alternative funds and strategies.
Firefly connects cities with its dynamic smart media platform. The company works with taxi companies and rideshare drivers to install its proprietary advertising displays atop their vehicles, providing an additional revenue stream to maximize their drive time. Firefly’s technology delivers the right message at the right time, cutting through the noise of a booming space and leading to highly effective campaign-engagement. These proprietary screens are customized and enabled to geo-local advertising based on driver routes and location. Founded by Kaan Gunay (CEO) and Onur Kardesler (CTO), Firefly is headquartered in San Francisco, with offices in New York City, Los Angeles, and Istanbul. To learn more: Fireflyon.com.