Outcast Media joins with PumpTop TV and Health Club Media Network to reach 68 million active consumers in 130 U.S. markets.
Outcast Media, a digital media company, has merged with its long-time joint venture partner PumpTop TV and Health Club Media Network (HCMN), an advertising company in the health club industry.
Together, this combined network is expected to reaching on-the-go consumers in more than 5,000 gas stations and health clubs in 130 U.S. markets.
Parthenon Capital Partners, a growth-oriented private equity firm and current investor in HCMN, plans to invest new equity capital in the combined company to fuel continued growth and expansion. Outcast has also secured bank financing from Silicon Valley Bank. Matthew Stoudt and Nathan Gill will lead the management team as CEO and chief revenue officer, respectively.
“This consolidation represents the natural extension of both companies’ strategy to build a network dedicated to reaching the active, on-the-go consumer, at a point of influence,” said Stoudt. “With the strong support of Parthenon Capital Partners and PumpTop TV’s advanced technology platform, we will be able to rapidly expand our footprint and product offering to better serve our advertisers and venue partners.”
Outcast plans to initially operate the new company as two channels with a common purpose of reaching active consumers in spend-ready environments. Outcast’s PumpTop TV network reaches active consumers at the pump via 11,000 one-to-one high definition displays. HCMN, which will be run as a division of Outcast, reaches active consumers inside almost 4,000 health clubs through a combination of high definition digital and static displays.
“In today’s rapid-fire, highly cluttered world, advertisers must rethink the ways to reach and influence active consumers who lead busy and distracted lives,” said Gill. “Our consolidated network provides a national footprint for advertisers with the unmatched ability to connect with young and affluent consumers on the path to purchase.”
Jon Grad, a partner at Parthenon Capital Partners added, “We are excited about partnering with Matthew, Nathan and the rest of the team at Outcast and we believe that the combination of these great networks will create a true industry leader in the digital out-of-home market.”