Millennial Media CEO Says Mobile Will Supplant Digital Ad Spending And Become The ‘Real’ Digital

Millennial Media CEO Says Mobile Will Supplant Digital Ad Spending And Become The ‘Real’ Digital

AARON TAUBE SEP. 24, 2013, 5:51 PM 572 2

In a speech to kick off the Smarter Mobile Marketing conference this morning, Millennial Media CEO Paul Palmieri trumpeted mobile advertising’s rise in the marketing ecosystem and suggested it might be the pre-eminent place for brands to spend their digital advertising budgets — supplanting traditional digital budgets. “We are now in a moment where consumer choice, consumer behavior, and consumer reception have gone past the tipping point of mattering,” Palmieri said. “Mobile has become an indispensable part of the marketing mix.”Palmieri’s opinion isn’t controversial, of course. But everything Palmieri says is interesting for two reasons:

He’s incredibly press shy. He speaks to the media only rarely, often preferring cable television shows where he knows he won’t get questions that are too surprising.

And he sits atop one of the hottest, biggest, most interesting, mobile ad companies on the planet right now. Millennial has more than $100 million of cash on hand, even after acquiring competitor Jumptap and forging an important partnership with AppNexus to create a huge new mobile ad exchange.

Jumptap wasn’t Millennial’s only acquisition this year, either. It is one of the few companies that can match Google, Facebook, Twitter and Pandora in scale, and it’s a mobile ads pure-play.

Palmieri’s remarks echoed those of Mobile Marketing Association CEO Greg Stuart, who cited recently released statistics finding that 80% of marketers believe mobile is transformational for both business and their careers.

Palmieri, who was named global chair of the MMA’s board, said that now that the industry has convinced marketers of its importance, the next hurdle is finding a way to more precisely measure the effects of mobile advertising on sales and brand lift. On Monday, his company announced a new suite of tools aimed at clearing this hurdle.

“We’re now at a point where we’re looking for the next vision,” Palmieri said. “What I want to ask now is this: Is mobile the real digital for marketers?”

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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