MNTN Inc, led by Ryan Reynolds as chief creative officer, is preparing for its NYSE debut, pricing shares at $16 for its IPO. The company aims to tap into the growing demand for ad-supported streaming services, as evidenced by a significant increase in subscriptions for such tiers. With its Performance TV platform, MNTN targets small to medium businesses, highlighting substantial revenue growth. As traditional TV audiences dwindle, MNTN's entry seeks to capture a share of the burgeoning ad-supported streaming market amidst changing viewer dynamics.
The listing comes as streaming platforms are seeing strong growth in their ad-supported tiers, despite the friction that has caused with viewers who now often have to pay a premium to weed ads out.
According to market research firm Antenna, 46% of streaming subscriptions are now for ad-supported tiers on services that offer them, representing growth of almost 33%. During that same period, subscriptions on ad-free tiers declined 0.1%.
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