Viant buys AI video ad maker Waymark for $20 million

Give Waymark a brand’s details and it returns a ready-to-air video ad within minutes, with the voiceover, visuals and a custom script included. Its customers already include local media sellers such as Comcast, Fox, NBCU and Spectrum Reach, which use it to make broadcast and streaming spots for local advertisers. Viant’s results release says it will use Waymark to generate many versions of an ad, each shaped for a different audience.

Chief executive Tim Vanderhook told analysts Waymark could bring thousands, if not millions, of new advertisers to connected TV (streaming TV watched on a television set). Chris Vanderhook, the chief operating officer, said most small and midsize advertisers stay out of streaming TV because making the ads costs too much. Viant expects little revenue from Waymark yet and costs about 25% higher next quarter. Its quarterly revenue rose 29% to just over $110 million, and streaming TV now takes more than half of the ad spend on its platform.

On our price sheet, checked on 10 November, Creatify’s Standard plan costs $15 a month, or $10 on yearly billing, and bundles an ad launcher with its video maker. Our CTV guide covers what a small brand needs before it buys TV ads.

Creatify’s $15-a-month Standard plan already sells small brands the ad and the launch. Viant’s $20 million puts the same pairing inside a TV buying platform, aimed at the brands its own executives say production costs kept out.