Sean McCaffrey on GSTV Sale

I’m thrilled to share that GSTV has been acquired by MidOcean Partners. This comes at an exciting time of growth for GSTV: in the last several years, we’ve tripled our revenue growth, more than doubled the scale of our network, doubled the size of our team, more than quadrupled our base of advertising partners, and continue to create new value and success for our retailers. We are ready to move further and faster, with a strong growth and innovation trajectory ahead. With our new, larger capital partner to drive that growth, the future is certainly bright for our business, and ultimately, all of our partners.

I joined GSTV seven years ago with a strong belief in the potential of the business, its ability to scale, and the value of our audience in an attentive and ‘ready to consume’ mindset for advertisers and retailers, as well as the insights and outcomes to prove it. That belief has become a reality backed by our talented team across our entire organization. We continue to hold ourselves to a higher standard for success, and now we are ready to enter into the next phase of our growth with a new strategic partner.

Beyond synergies between their holdings and our business, MidOcean shares GSTV’s bullish belief in the direction the media landscape is going. We strongly believe that growth, innovation and opportunity lie at the intersection of video, digital out of home (DOOH), and retail media, powered by programmatic. This is the largest addressable market, which GSTV is and has been at the forefront of building and defining.

I shared earlier this year that DOOH is entering into its capital D era, transforming very much like how other legacy media has transformed – video has evolved where CTV and addressable media are smarter executions of legacy TV strategy; streaming audio and podcasting are smarter executions of terrestrial radio; and commerce media is a bigger way to think about shopper marketing, where brand and performance are inextricably linked objectives, and all media investment is held accountable for driving growth. Our new investment partners share GSTV’s vision to build the most valuable and widely distributed location-based digital media network and they are excited about the strategy to deliver on that vision.

As we look forward to building the next generation of our growth story, I want to take a moment to thank all who have gotten us to this place. Huge thank you to Rockbridge Growth Equity, LLC for their partnership over the past five years; to our advertisers who believe in the power of our network to reach consumers during a moment that matters; to our retailers who partner with us to bring our experience to consumers; to all the partners who fuel GSTV’s business from content to insights to technology, and thanks again to our team who works each day to bring value to all of you.