Vinco Ventures (NASDAQ:BBIG) added the beta version of Lomo Ads and integrated Google Ads inside its Lomotif social media platform.
The beta version of the Lomo Ads program will allow for automatic advertising within the Lomotif platform. The end goal of this test is to allow for a revenue-sharing model on advertising with creators to give the creators economy a shot in the arm. This means monetization of content, which will be crucial when Lomotif integrates with blockchain technology in the future.
“The integration of Google Ads inside Lomotif is a key step to the growth of our business and brings enormous potential to both Lomotif and the entire Vinco Zash ecosystem. I believe this integration significantly strengthens our foundation and marks the beginning of a new chapter within the company. I’m excited to be a part of the app’s evolution moving forward,” said Ross Miller, CEO of Vinco Ventures.
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Lomotif and social media
Vinco Ventures develops digital media and content technologies. Its subsidiary, ZVV Media Partners, is a joint venture of Vinco and ZASH Global Media and Entertainment, which has an 80 per cent stake in Lomotif. Vinco also owns AdRizer, which it acquired earlier this year. Conversely, Vinco and Zash acquired Lomotif last year, and the company intends to use AdRizer to take Lomotif global and increase monetization across platforms. The idea is that ad and marketing platforms drive engagement and revenue in both the Vinco and Zash ecosystem.
Lomotif is a direct competitor to TikTok without all the Chinese intrusion. It’s been among the fastest growing short video-sharing social network platforms. The app has been installed over 225 million times in over 200 countries. It offers editing and curation skills and a content sharing community. AdRizer, which will be doing the advertising work, provides real-time analytics for marketing spend to deliver ad campaign creation for advertisers. It connects with other traffic providers like Google, MSN, Instagram, Facebook, Twitter and others.
“Launching ads within the Lomotif platform has been part of the long-term vision for the app since its acquisition, and is a major step towards executing our business model and accelerating the creators economy,” said Paul Yang, founder and CEO of Lomotif.
