Over 20 million searches for brands and products have been conducted through Perion’s search partners
Tel Aviv, Israel and New York, November 30, 2021–(BUSINESS WIRE)–Perion Network Limited (NASDAQ: PERI), a global advertising technology company that delivers a comprehensive solution across the three main pillars of digital advertising – search ads, social media, and display/video/CTV ads — unprecedented growth reported In consumer searches on Black Friday.
Consumer searches on Perion’s Publisher Network were higher across a variety of shopping categories, significantly increasing the number of consumers we served, and in revenue generated during the Black Friday period.
This strong performance is particularly compelling given the overall softness in online spending on Black Friday, which fell for the first time to $8.9 billion, according to Adobe Analytics. Perion’s record-breaking e-commerce numbers were higher than those of last year, when Black Friday broke its record for online spending, an increase of 21.6% from 2019.
“Perion’s Black Friday search results show that we are able to attract high-intention consumers as they research and make their purchasing decisions,” said Doron Gerstel, CEO of Perion.
Mr. Gerstel added: “This record performance follows our results for the third quarter, where search advertising grew 14%. In addition to contributing revenue from e-commerce-related searches, our AI-based technology allows us to process signals of intent and continuously improve digital campaigns for publishers and partners Furthermore, incorporating this massive amount of intent data into the iHub – or “smart hub” – is expected to drive a flywheel effect in Perion’s digital marketing.”
About Perion Network Ltd.
Perion (Nasdaq: PERI) is a global technology company that provides comprehensive strategic business solutions that enable brands and advertisers to efficiently “capture and impress” users across multiple platforms and channels, including Interactive Connected Television – or iCTV. Perion achieves this with its synchronized digital brand capabilities, which focus on high-impact creatives; content monetization its own branded search network, in partnership with Microsoft Bing; and social media management that regulates and improves paid advertising. This diversification sets Perion to grow as budgets shift across categories.
This press release contains historical information and forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the business, financial condition and results of Perrion’s operations. The words “will,” “believe,” “expect,” “intend,” “plan,” “should,” and other similar expressions identify forward-looking statements. These statements reflect Perion’s current views, assumptions, and expectations regarding future events and are subject to risks and uncertainties. Many factors could cause Perion’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements or financial information, including, among other things other, failure to recognize the expected benefits from the companies and businesses we have acquired that we may acquire in the future, and the risks involved in merging the businesses and businesses we acquire, including employee retention and customer acceptance; The risk that such transactions will divert management and other resources from the ongoing operations of the business or otherwise disrupt the conduct of those business, the potential litigation associated with such transactions, and the general risks associated with Perrion’s business including extensive and frequent changes in the markets in which the companies operate and general economic and business conditions , loss of key customers, unexpected sales cycles, competitive pressures, market acceptance of new products, inability to meet efficiency and cost reduction targets, changes in business strategy and various other factors, whether or not referred to in this press release. Various other risks and uncertainties may affect Perion and the results of its operations, as described in Perion’s submissions to the Securities and Exchange Commission from time to time, including its annual report on Form 20-F for the year ended December 31, 2020. With the Securities and Exchange Commission and stock exchanges on March 25, 2021. Perion assumes no obligation to update these forward-looking statements.
Source: Perion Network Ltd.
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Ramy Rosen, Vice President of Investor Relations
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