Commercial radio owner Global has established a footprint in the US with the acquisition of digital audio ad sales company, AudioHQ, in a move which it claims makes DAX the largest digital audio advertising platform in the world.
As part of the acquisition, AudioHQ, which launched in 2014 and is now one of the biggest aggregators of digital audio inventory in the US, will be rebranded to DAX.
Publishers with inventory already on the AudioHQ roster include Slacker, Major League Baseball, TuneIn and SoundCloud.
This move brings an audience of 130 million to DAX giving advertisers access to a total of 160 million people worldwide, which Global claims makes it the "largest digital audio advertising platform in the world" when compared to the audiences of other digital audio platforms. As of June 2017, Spotify had 140 million monthly active users. TargetSpot, the internet radio advertising network, reaches 120 million monthly unique listeners according to its website.
Global will now have offices across the US in locations including New York, Los Angeles, Chicago and Detroit.
Matt Cutair, the co-founder and chief exec of AudioHQ, will run DAX in the US with chief revenue officer and co-founder Jeff McCarthy. Cutair and McCarthy retain a stake in the business. All AudioHQ team members will join the DAX team.
In Europe, Global is opening offices in Paris, France and Hamburg, Germany from November, with the DAX operation to be led by David Cooper, Global’s head of DAX sales (EU). Cooper joined Global in July from Spotify where he was director of sales, and reports into Ollie Deane, Global’s director of commercial digital.
Stephen Miron, Global’s group chief executive, said taking DAX to the US was a "natural next step" for the brand as demand from advertisers has grown.
"DAX has revolutionised the digital audio advertising market in the UK, and we’re confident it will be a huge success in the US. For Global, this acquisition is a significant milestone as we enter the US advertising market," Miron said.