Despite the COVID-19 turbulence and the predicted ad revenue shrink of 8.5% in APAC, MGID has improved market share in the region and has increased the audience reach over the last 6 months.
The company's Q2 results in the region have demonstrated a sustainable position in APAC. The monthly audience reach has achieved 52,4 bln impressions, 65% higher compared to the same period last year.
MGID began operating in APAC in 2018, opening offices in Vietnam and India. More recently, the business has expanded into new markets, including Indonesia, Singapore and Thailand. Since the company's launch in Asia-Pacific, MGID has worked with leading agencies and brands including VP Bank, Kia and iBaoViet in Vietnam; Lazada and Lumahealth in Thailand; and HSBC Bank, DAC Asia and Mindshare in Indonesia.
Having developed local teams in each of the abovementioned countries, MGID has established itself as a data-driven technology company that understands the context and the mindset of local audiences and knows how to add value to their online experiences.
With the COVID-19 outbreak disrupting markets and consumer behavior in unpredictable ways, MGID is now focusing on deepening relationships with key brands and agencies in the region to help them adapt their advertising strategies to the new normal. MGID is not only granting agencies access to new audiences from direct relationships with premium publishers but also introducing new native advertising formats. All of which is ensured by MGID's AI-based user-to-product algorithm.
Sergii Denysenko, CEO at MGID: "In times of crisis, businesses have two paths to pursue: pause their advertising activities until the good times return and eventually be forgotten. Or focus on making optimal use of their budgets by prioritizing performance-based marketing efforts where effectiveness is easy to track. MGID is here to help marketers with the latter. And we have successfully helped our clients in APAC to adapt their digital marketing strategies to the new normal."