Perion Network Bets on AI Platform as CTV, Retail Media Spend Accelerate

Perion Network is positioning its Perion One platform as an AI-enabled layer designed to help advertisers manage campaigns across a fragmented digital advertising market. The company is seeing accelerating growth in newer advertising channels such as retail media, connected TV (CTV), and digital out-of-home. Perion One spending rose 15% year over year in the second quarter, while Outmax adoption grew more than 130%. The company expects newly signed agency agreements to contribute materially and has reaffirmed its 2028 targets. Perion also plans to complete its existing $200 million share-repurchase authorization by year-end.

Perion's strategy involves using artificial intelligence to analyze campaign data, identify inefficiencies, and provide recommendations to improve media investment outcomes. Outmax, Perion's AI-driven cross-channel optimization technology, is intended to assess campaign performance and recommend changes. The company also launched Ask Perion, a customer-facing interface that allows clients to interact with the platform, submit campaigns, and review results.

Perion is expanding its in-store media and has access to a significant number of screens globally. The company is also working to deploy Outmax on platforms including ChatGPT and Google Shopping. Perion recently signed two strategic agreements tied to a large agency.