This ISV’s digital signage consulting expertise and subscription-based recurring revenue model are leading it to a sixth consecutive year of triple-digit revenue growth.
Before you can fully appreciate the business strategy of digital media software developer and consultant Industry Weapon, you need to understand how the digital media environment has grown and evolved over the past several years. Research from Borrell Associates shows online media promotions, which represented a $14 billion industry in 2008, reached $35 billion in 2013 and are projected to hit $80 billion by 2017. The same organization predicts that targeted display ads, which represented $3.8 billion in spending in 2012, or 19 percent of all local ad spending, will be more than double the size of any other local ad category by the end of this year.
David Wible, CEO of Industry Weapon, laughs whenever he thinks back to 2007, the year he joined forces with COO Craig Hanna and CTO William Chufo by merging with their private-labeled e-commerce and multimedia company, Adroit Concepts. “We had very little knowledge about on-premises IT, so everything we did was centered on providing IT services via our private e-commerce data center. Who could have predicted that the skills we were developing as an ASP [application service provider], combined with our multimillion-dollar investment in a private e-commerce data center, were putting us on the forefront of the cloud computing era, which came about a few years later?”