Search giant Google has decided to close its TV Ads business after five years, citing more exciting opportunities in the multi-screen world.
Shishir Mehrotra, VP of product (video) at Google, writes on the company blog: “Video is increasingly going digital and users are now watching across numerous devices. So we’ve made the hard decision to close our TV Ads product over the next few months and move the team to other areas at Google.”
He adds that Google will be doubling down on video solutions for its clients (like YouTube, AdWords for Video, and ad serving tools for web video publishers), and also sees opportunities to help users access web content on their TV screens, through products like Google TV.
Pledging to support partners and clients’ campaigns as the TV Ads business is shut down, Shishir signs off by saying that the future of video advertising remains “extremely bright”.
Google TV Ads was launched in 2007 as a way of bringing digital buying and measurement technologies to traditional TV advertising.
Its network of partners enabled clients to reach up to 42mn US television households across more than 100 TV networks, including ESPN, TNT and CNN.
Editor’s note: This must come as a bitter blow for a company like Google which prides itself on creating the best digital marketing opportunities: especially as a recent report by major professional services firm Deloitte found that the traditional TV advertising model is “neither broken nor breaking”, and remains the most effective advertising medium by a clear margin.