Innovid Corp. (CTV): Business Model Canvas [Dec-2025 Updated]

You're looking at Innovid Corp.'s operating model post-Flashtalking merger, and honestly, the game has completely changed from just CTV ad serving to a unified omnichannel ad-tech powerhouse. As someone who's mapped these models for years, what stands out is how they are trying to carve out an independent lane against the big tech players by focusing on transparent, outcome-based measurement and advanced creative tools, like those QR codes on your TV screen. With an estimated revenue around \$153.4 million for 2025, their cost structure shows heavy investment in R&D ($\sim\$27.05$ million TTM) to fuel this platform, which reaches over 95 million U.S. CTV households. Dive in below to see the nine blocks that define how Innovid Corp. is actually making money and where the real strategic bets are being placed right now.

Innovid Corp. (CTV) - Canvas Business Model: Key Partnerships

You're looking at the core relationships that power the combined entity following the early 2025 consolidation. These are the entities that provide the foundational infrastructure, the expanded capabilities, and the critical data connections for the platform.

Mediaocean is the parent company, having completed the acquisition of Innovid Corp. on February 13, 2025. The transaction valued Innovid at an enterprise value of approximately $500 million and an equity value of around $525 million. This relationship ties the platform into the industry's core ad infrastructure for omnichannel planning, buying, and billing.

The merger brought in Flashtalking, creating a premier global, independent, omnichannel ad tech platform. This combination provides a transparent, scalable alternative to big-tech solutions across CTV, digital, social, and linear channels, spanning ad serving, creative, measurement, and optimization.

The platform's open, interoperable nature relies on deep integrations across the ecosystem. For instance, Google's Display & Video 360 (DV360) was noted as an early adopter of the expanded Harmony with Conversion Signals in November 2025.

Key publisher and data collaborations are essential for scale and outcome validation. The platform's operational scale, based on hundreds of billions of video ad impressions served in 2024, is a key asset.

Here's a look at the partnership landscape and associated operational metrics:

The platform's ability to measure outcomes is supported by its scale. The 2025 CTV Advertising Insights Report, based on 2024 data, showed that the average CTV campaign reached 19.64% of Innovid's 95M+ U.S. households.

You see the value in these connections through engagement metrics:

• Interactive ads delivered an average of 71 seconds of additional viewer time over standard pre-roll.
• QR code usage in ads grew more than 3x year-over-year in 2024.
• Average campaign frequency was 7.09 across campaigns measured in 2024.
• High-investment campaigns (200M+ impressions in 2024) saw frequency rise to 10+.

Finance: review the Q4 2025 revenue guidance against the Q3 2025 actuals by end of day Tuesday.

Innovid Corp. (CTV) - Canvas Business Model: Key Activities

You're looking at the core engine Innovid Corp. uses to drive its business, the essential things the company must do well to deliver its value proposition. This is where the rubber meets the road, especially with the shift to agentic AI.

Developing AI-driven ad tech (Innovid Orchestrator, AI Agents)

Innovid Corp. focuses heavily on building the infrastructure for the AI era of advertising. In November 2025, the company unveiled its specialized AI agents alongside the Innovid Orchestrator, which it calls the industry's first full-cycle AI orchestration superagent. This system is designed to automate and connect core advertising functions across creative, delivery, measurement, and optimization. The system is powered by Innovid Corp.'s existing ad serving engine, which makes real-time decisions based on context and performance signals.

The specialized AI agents automate key parts of the advertising lifecycle, including:

• Create Agents: Generate and score creative using live performance data.
• Deliver Agents: Automate trafficking and campaign setup.
• Measure Agents: Provide cross-channel reporting with natural-language insights.

The Orchestrator acts as a superagent, connecting these proprietary agents with human input and external models, data, and tools via an open orchestration layer. This is positioned as a generational leap for marketers trying to run next-gen AI on existing infrastructure.

Global ad serving, creative personalization, and delivery across all screens

A primary activity is the massive-scale delivery of ads across all screens. Innovid Corp.'s ad serving footprint powers delivery to more than 95 million connected homes. Creative personalization, particularly Dynamic Creative Optimization (DCO) on CTV, is a major focus. Innovid Corp. data shows that DCO television ads generate an average of 20.18 seconds of additional engagement compared to standard video ads. Furthermore, interactive CTV ads, which give viewers choice, deliver an average of 71 seconds of additional viewer time versus standard pre-roll. The growth in interactive formats is clear, with QR code usage growing more than 3x year-over-year based on 2024 impression data.

Here's a snapshot of the scale and performance metrics tied to delivery and creative:

Cross-platform measurement and attribution (post-TVSquared acquisition)

Following the TVSquared acquisition, a key activity is providing a unified, independent, currency-grade standard for cross-platform TV measurement. This involves processing and analyzing billions of impressions daily to deliver metrics like reach, frequency, and outcomes across linear, CTV, and digital video. The measurement platform, InnovidXP, is powered by ad serving data representing 88% of U.S. CTV homes. Based on 2024 data, the average CTV campaign reached 19.64% of Innovid Corp.'s 95M+ U.S. households with a frequency of 7.09. For campaigns with high investment (200M+ impressions), that frequency rose to 10+, making frequency management a critical activity.

Sales and account management for top global advertisers and agencies

Sustaining and growing the platform requires dedicated sales and account management to service major global players. Innovid Corp. relies on this activity to maintain its market position. The company serves over 50% of the top 200 TV advertisers. Furthermore, core-customer retention rates exceed 90%, which speaks directly to the effectiveness of the account management function. The client services organization is responsible for scaling the company's global operations and enabling brands to connect deeply with customers. Innovid Corp. serves a diverse set of industries, including consumer packaged goods, pharmaceutical/healthcare, retail, financial services, and automotive/technology, across the United States, Canada, Europe, the Middle East, Africa, Latin America, and the Asia Pacific regions.

The Chief Operating Officer is specifically responsible for the growth and scale of the company's global client services organization. This team works to bolster current offerings for traditional advertising agencies while enabling personalized video experiences for brands.

Innovid Corp. (CTV) - Canvas Business Model: Key Resources

You're looking at the core assets that power Innovid Corp.'s position as the premier independent, omnichannel ad tech platform following the combination with Flashtalking. These resources are what allow the company to deliver on its promise of independence, intelligence, and innovation at scale.

Proprietary Ad Tech Platform: Unified Innovid/Flashtalking Omnichannel Software

The foundation is the unified software platform, created by the merger of Innovid and Flashtalking in 2025, now operating under the Innovid by Mediaocean brand. This technology is designed to be a transparent, scalable alternative to big-tech offerings, covering CTV, digital, linear, and social channels. The platform's core strength lies in its ability to handle ad serving, data-driven creative, and measurement within a single system. For example, the platform supports the creation of interactive ads ready to run across over 25+ device types using tools like the self-service authoring tool, CTV Composer. Also, the platform's technology is integral to its Harmony initiative, which focuses on optimization layers across the entire investment. The company was recognized as a leader in the Q2 2025 SPARK Matrix for AdTech Platform by QKS Group.

Extensive Data

The platform's intelligence is fueled by massive, real-world data. The 2025 CTV Advertising Insights Report is based on analysis of hundreds of billions of video ad impressions served by Innovid in 2024. Of those impressions, 54% were served via CTV. This data volume allows for deep insights into performance, such as the fact that interactive ads drove an average of 71 seconds of additional time earned over standard pre-roll. Furthermore, the company extends its Outcomes Suite, which powers household-level purchase metrics across online, in-app, and in-store results, tapping Affinity Solutions as a launch partner in May 2025.

Reach

Innovid Corp. maintains access to a significant portion of the addressable market. The platform analyzes data across over 95 million U.S. CTV households. However, the data from 2024 highlights an opportunity for advertisers: the average CTV campaign only reached 19.64% of this base, with a frequency of 7.09. This indicates the scale of the untapped audience within their measured universe. The company's market capitalization was reported at $466 million as of February 2025.

Intellectual Property

The company's patents and proprietary technology drive differentiation, especially in interactive formats. For instance, Dynamic Creative Optimization (DCO) television ads, which leverage this IP, generate an average of 20.18 seconds of additional engagement compared to standard video ads. The focus on actionable interactivity is evident, as QR code usage across campaigns grew by more than 3x year-over-year in 2024. The ability to personalize and optimize creative based on data signals is a key output of this IP. For example, in Q2 2024, the company reported an Adjusted EBITDA of $5.9 million, representing a 15.5% margin, showing the efficiency derived from their technology stack.

Here is a quick summary of the key operational metrics underpinning these resources:

The platform's ability to handle complex, multi-format advertising is supported by new AI tools launched in August 2025, such as Auto Classification, which uses image recognition to automatically label creative assets, eliminating manual tagging bottlenecks. Also, the company's Q2 2024 CTV impression volume from ad serving and personalization grew by 21% year-over-year.

Finance: review the impact of the Mediaocean integration on Q3 2025 operating cash flow projections by end of next week.

Innovid Corp. (CTV) - Canvas Business Model: Value Propositions

You're looking at the core reasons why advertisers choose Innovid Corp. (CTV) over other options, especially as Connected TV (CTV) spending continues to climb but often trails actual viewership time. Honestly, the value propositions are built around solving the fragmentation and lack of control that plague digital video advertising right now.

Independent, transparent alternative to big-tech walled gardens

Innovid Corp. positions itself as the necessary counterweight to the closed systems run by the big tech players. This isn't just philosophy; it's structural, especially after the 2025 merger with Flashtalking. This combination created an independent software platform designed to be transparent and scalable across CTV, digital, linear, and social channels. You need that independence to ensure data isn't siloed or manipulated by the platforms where the ads run.

Advanced frequency management (Harmony Frequency) to reduce ad waste

The risk of showing the same ad too many times is real, especially as CTV impressions grew by 18% in 2024. You see this clearly in the data: the average CTV campaign frequency in 2024 settled at 7.09, but for larger campaigns moving over 200 million impressions, that frequency spiked to 10+. Innovid Corp.'s Harmony initiative, specifically Harmony Reach & Frequency (launched July 2024), directly tackles this waste. For instance, a campaign executed by Davis Elen Advertising for McDonald's of Southern California and the Southern California Toyota Dealers Association used these tools to achieve 28% incremental reach while optimizing efficiency.

Here's a quick look at the frequency challenge and the reach benefit from Harmony:

Shoppable and interactive CTV creative (e.g., scalable QR codes)

You're moving beyond simple awareness; you want viewers to take action right from the screen. Interactive formats are key here. When viewers engage with elements like product galleries or QR code overlays, they spend an average of an additional 71 seconds with the ad compared to standard pre-roll spots. This lean-forward engagement is translating into real behavior; for example, QR code usage in interactive ads grew more than 3x year-over-year based on 2024 data. In one specific pharmaceutical campaign, this led to a 33% increase in QR codes being scanned compared to benchmarks.

The engagement lift is significant:

• Interactive ads earn an average of 71 seconds additional time earned.
• QR code usage grew more than 3x year-over-year (2024 data).
• One pharma campaign saw a 33% increase in QR scans.

Outcome-based measurement proving ROI for CTV campaigns

This is where Innovid Corp. ties ad exposure directly to the bottom line, which is critical for justifying CTV spend. In June 2025, they launched purchase attribution in InnovidXP, powered by Affinity Solutions, using deterministic data from 18 billion annual credit/debit card transactions covering over 95 million consumers. This lets you measure sales lift, ROAS, and incrementality without placing a pixel. For a recent QSR client campaign using this pixel-less approach, the results were stark: 25x more attributed revenue and 55x more attributed transactions, alongside a 4.3% incremental sales lift. To be fair, measurement is a core strength, as another agency, Eicoff, reported reducing client cost per response by 35% using Innovid measurement in late 2024.

Finance: draft the Q3 2025 cash flow projection by Monday.

Innovid Corp. (CTV) - Canvas Business Model: Customer Relationships

You're looking at how Innovid Corp. manages its relationships with the brands and publishers using its platform as of late 2025. This is grounded in the data from hundreds of billions of video ad impressions served in 2024 across its 95M+ U.S. households footprint.

Dedicated Enterprise Account Management for top global brands

Innovid Corp. empowers the world's top advertisers and publishers. The platform serves key verticals including consumer packaged goods, pharmaceutical and healthcare, retail, financial services, and automotive and technology industries. For instance, recent client expansions included Spectrum, Eli Lilly, Lundbeck, and The Wonderful Company. The scale of the business supporting these relationships saw Q2 2024 revenue reach $38.0 million, with Adjusted EBITDA growing 29% year-over-year to $5.9 million.

Strategic consulting via annual CTV Advertising Insights Report

The annual CTV Advertising Insights Report, released in April 2025, is based on data from hundreds of billions of video ad impressions served in 2024. This consulting tool highlights key performance metrics for clients.

• The average CTV campaign reached only 19.64% of the 95M+ U.S. households tracked.
• The average campaign frequency in 2024 was 7.09.
• High-investment campaigns (200M+ impressions) saw frequency climb to 10+.
• CTV ad impressions grew 18% year-over-year in 2024.

High-touch support for complex, custom omnichannel campaigns

The platform's integration with Flashtalking in 2025 created a transparent, scalable alternative for omnichannel execution, which is critical for complex campaigns. The platform's tools enable optimization that translates directly to client savings and performance lifts. For example, one campaign using Harmony Reach & Frequency tools achieved 28% incremental reach while delivering average savings on a cost-per-thousand viewers (CPM) basis of 35%. Also, interactive creative in a pharma campaign resulted in an average time earned lift of 147 seconds compared to standard pre-roll, alongside a 33% increase in QR code scans versus benchmarks.

Interactive ad formats drive deeper engagement, earning an average of 71 seconds of additional viewer time over standard pre-roll. Choice-based interactive ads specifically delivered a 3,966% lift in engagement.

Self-service tools for Retail Media Networks (RMNs) to manage campaigns

Innovid Corp. released new features focused on retail media networks on July 8, 2025. This addresses the need for operational efficiency as RMN spending accelerates. According to Mediaocean's H2 Market Report projections, more than a third of marketers plan to increase RMN ad spend in H2 2025. European retail media spending grew 22.1% in 2024, outpacing the broader advertising market growth of 6.1%.

The following table shows the average reach and frequency achieved by different vertical campaigns in 2024, which informs the self-service optimization strategy for RMN clients:

The Retail vertical achieved an average reach of 8.08% with a frequency of 6.30 across its campaigns. The growth in interactive formats, with QR code usage growing more than 3x year-over-year in 2024, is a key feature for RMNs looking to drive shoppable experiences. Finance: draft 13-week cash view by Friday.

Innovid Corp. (CTV) - Canvas Business Model: Channels

You're looking at how Innovid Corp. gets its platform in front of the market as of late 2025. The strategy relies on a mix of direct enterprise engagement and deep technology integration across the broader ad ecosystem, especially now following the 2025 merger with Flashtalking.

Direct Sales: Global sales team targeting Fortune 500 advertisers

The direct sales channel focuses on landing and expanding relationships with the largest global brands. Innovid Corp. currently serves over 50% of the top 200 TV advertisers, a testament to the enterprise-level trust in its independent infrastructure. This team targets major sectors like consumer packaged goods, finance, and automotive across the Americas, Europe, the Middle East, Africa, Latin America, and the Asia Pacific regions. The company boasts core-customer retention rates exceeding 90%, showing the stickiness of its platform once adopted.

Media Agency Partnerships: Deep integration with major holding companies

Integration with major media holding companies is critical for scale, as these entities manage vast portions of global ad spend. Innovid Corp.'s platform is designed to work within the workflows of these large agencies, providing a view across converged TV investments. The platform's ability to provide a view about everything a holding company is doing, even if Innovid Corp. isn't executing 100% of the media spend, makes it strategically valuable for planning and measurement.

Platform Integrations: APIs connecting to DSPs, SSPs, and publisher ad servers

The technology channel is driven by API connections that embed Innovid Corp.'s capabilities directly into the buying and selling infrastructure. This is where the platform's scale is most evident, based on 2024 operational data. The company's technology infrastructure supported the delivery of over one billion MRC-accredited ad impressions every day. As of November 2025, the trailing twelve months (TTM) revenue stood at A$0.23 Billion, with the combined entity targeting an initial scale bordering on 100 million of EBITDA.

Here are some key operational metrics from 2024 that illustrate the scale of this channel:

Innovid Corp.'s Harmony initiative specifically deepens these ties, counting partners like Yahoo DSP as a launch partner and having Google's Display & Video 360 as an early adopter for expanded features. Other key partners in the initiative include Roku, PMG, Assembly, and CMI Media Group.

White-labeled solutions for Retail Media Networks

This channel capitalizes on the rapid growth in Retail Media Networks (RMNs), with more than a third of marketers planning to increase RMN ad spend in H2 2025. Innovid Corp. provides RMNs with a self-service campaign UI, allowing them to bring more control in-house. This includes creative automation for co-branded templates and unified reporting across onsite and offsite activations, helping RMNs prove performance with incrementality metrics.

You should check the latest Q4 2025 SEC filing for updated employee count, which was 466 as of early 2025. Finance: draft 13-week cash view by Friday.

Innovid Corp. (CTV) - Canvas Business Model: Customer Segments

You're looking at the core buyers of the platform, the entities that pay for the ad serving, measurement, and creative technology. As of late 2025, following the acquisition by Mediaocean in late 2024, the customer segments remain distinct but are now integrated into a broader omnichannel ad tech stack.

Global Brands/Advertisers: This is the bedrock, the large spenders driving the volume. Innovid Corp. serves clients across major verticals, including Consumer Packaged Goods (CPG), pharmaceutical and healthcare, retail, financial services, and automotive and technology industries. The company has historically focused on driving growth through its core client base-those spending $100,000 or more annually-by maintaining consistently positive net revenue retention, largely fueled by the shift of budgets from linear TV to CTV. For instance, recent client expansions included major names like Eli Lilly, Lundbeck, Purple Innovation, and The Wonderful Company. Procter & Gamble is noted as a global client utilizing the platform. The platform delivered more than hundreds of billions of video impressions in 2024, with 54% of that volume coming from CTV impressions. This segment is critical because as linear budgets migrate, the upside for Innovid Corp.'s technology is substantial.

Media Agencies: Third-party agencies manage large-scale campaigns for the brands mentioned above, acting as key intermediaries. Innovid Corp. explicitly targets winning new client accounts from agencies utilizing competitor or point solutions. The company's focus on cross-platform measurement and identity resolution is designed to appeal directly to the complex needs of these large media buying organizations. Rain the Growth Agency is an example of a recent expansion win in this category. These agencies rely on the platform for real-time metrics, a departure from the traditional delayed post-campaign reporting they often face elsewhere.

Publishers/Broadcasters: Streaming platforms and broadcasters are essential customers, needing ad serving, personalization, and measurement capabilities to monetize their inventory. The platform's technology is designed to integrate directly into these environments. A significant validation point for this segment is Innovid Corp.'s selection as one of only two partners for impression verification within Netflix's ad-supported platform, expanding its coverage of the streaming universe. Furthermore, LG Ad Solutions joined Innovid Corp.'s Harmony initiative, showing deep integration with major platform players. CTV impression volume from ad serving and personalization showed a year-over-year increase of 21% in Q2 2024.

The following table summarizes the scale and focus areas relevant to these primary customer segments based on the latest available data:

Retail Media Networks: While not always called out separately in historical segment breakdowns, the focus on retail clients and specific resources points to this as a growing segment. Innovid Corp. serves retail clients directly, and the company released a playbook in October 2025 titled 'Playbook: Amplify Retail with Paid Social,' indicating a dedicated strategic focus on driving conversions for this sector, likely through onsite and offsite media orchestration capabilities now bolstered by the combined entity's technology.

The company's platform is designed to offer always-on intelligence to optimize advertising investment across channels, screens, and devices for this diverse client base. If onboarding for new retail partners takes 14+ days, churn risk rises.

Innovid Corp. (CTV) - Canvas Business Model: Cost Structure

You're looking at the core expenses that fuel Innovid Corp.'s platform operations as of late 2025. These are the big buckets where the cash goes to keep the ad serving, measurement, and AI innovation running at scale.

Research & Development (R&D) remains a significant drain, but it's the engine for future value, especially with the recent launch of the Innovid Orchestrator and AI Agents. This investment is about staying ahead in the fragmented CTV landscape.

The Selling, General & Admin (SG&A) costs reflect the global footprint and the need to constantly sell into a complex ecosystem of advertisers, publishers, and agencies. It's high because scaling a global ad-tech platform requires a large, specialized sales force and support structure.

The table below breaks down the key cost components based on the latest available Trailing Twelve Months (TTM) figures leading up to late 2025.

The Technology Infrastructure spend is a variable but massive component. It's all about the cloud hosting and the sheer data processing power needed to handle the massive volume of CTV impressions Innovid Corp. serves daily. Honestly, if impression volume spikes, this cost scales right with it.

Here's a look at what drives the direct Cost of Revenue:

• Hosting fees for global cloud infrastructure.
• Personnel costs directly tied to ad serving and data delivery operations.
• Professional services necessary for maintaining real-time data pipelines.
• Facility-related costs allocated to the operations team.

To be fair, the high SG&A number includes the cost of expanding the Harmony Initiative partnerships and driving adoption of new tools like the AI Agents. Finance: draft 13-week cash view by Friday.

Innovid Corp. (CTV) - Canvas Business Model: Revenue Streams

You're looking at how Innovid Corp. brings in the money, which is all about software services for video advertising across connected TV (CTV), mobile, and desktop environments. The core model relies on usage and subscription fees for their platform capabilities.

The analyst average revenue forecast for the full year 2025 sits at $153.4 million. This is based on management reiterating long-term targets of 20%+ annual revenue growth, expecting a reacceleration in 2025 as certain market headwinds subside.

Here's a look at the streams, using the latest concrete operational data from Q3 2024 to illustrate the model's composition, as specific 2025 segment breakdowns aren't public yet:

• Ad Serving Fees: Volume-based fees for serving video ad impressions.
• Creative Personalization Fees: Charges for dynamic creative optimization (DCO) usage.
• Measurement/Analytics Subscriptions: SaaS fees for advanced attribution and reporting.
• Estimated 2025 Revenue: Analyst average revenue forecast of $153.4 million.

The platform's revenue generation is heavily weighted toward volume and feature usage. For instance, in Q3 2024, CTV impressions, which drive ad serving and personalization fees, represented a record 58% of total video impressions. Also, the software-only/self-service model, which is a key part of the SaaS component, accounted for about 25% of the total ad serving revenue in that quarter.

The following table summarizes the key financial figures related to the revenue streams:

The shift toward the software-only model, at 25% of ad serving revenue in Q3 2024, suggests a move toward more predictable, recurring SaaS-like revenue, which supports the subscription component of the business model. The 12% growth in CTV ad serving and personalization in the same period shows where the volume-based fees are accelerating.

Finance: draft 13-week cash view by Friday.