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Nielsen for digital and multi-platform media measurement.

The Nielsen of online audience behavior and advertising effectiveness.

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• comScore MMX Multi-Platform: Provides comprehensive measurement of digital audiences across desktop, smartphone, and tablet devices, offering insights into content consumption and demographics.
• comScore Validated Campaign Essentials (vCE): Measures the effectiveness and reach of advertising campaigns across digital platforms, ensuring ads are viewable by real, in-target audiences.
• comScore TV Measurement: Delivers insights into television viewership trends and demographics, helping broadcasters and advertisers understand linear TV audiences.
• comScore Xmedia: Offers a holistic view of media consumption by integrating digital and TV audience data, enabling cross-platform planning and analysis.
• comScore Plan Metrix: A planning tool that integrates consumer behaviors and demographics with media consumption data to help advertisers and publishers optimize media strategies.

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comScore (symbol: SCOR) primarily sells its services and data to **other companies** within the media, advertising, and technology sectors, rather than to individuals.

Based on their business model and public disclosures (such as their Form 10-K filings), comScore serves a diversified customer base, and no single customer accounts for a material portion of its revenue. Therefore, specific names of major individual customer companies are not publicly disclosed by comScore. Instead, their major customers fall into the following categories of companies:

• Media Owners & Publishers: This category includes television networks, digital content publishers, streaming services, and multi-channel networks. These companies use comScore's data to measure audience engagement, content performance, and the value of their advertising inventory.
• Advertisers & Brands: Companies that market products or services across various industries (e.g., consumer packaged goods, automotive, financial services, pharmaceuticals) are major customers. They rely on comScore for media planning, campaign effectiveness measurement, competitive intelligence, and optimizing their advertising spend.
• Advertising Agencies: Media buying agencies, creative agencies, and digital marketing agencies utilize comScore's insights for strategic planning, media buying optimization, and reporting on campaign performance for their clients.

As comScore's customer base is highly diversified and no single customer represents 10% or more of its revenue, specific public company names are not identified as "major customers" in their financial filings. Customer relationships are also typically confidential.

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• Amazon.com, Inc. (AMZN)

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Jon Carpenter, Chief Executive Officer and Director

Jon Carpenter is a media & technology industry veteran. He joined comScore as Chief Financial Officer in 2021 and was appointed Chief Executive Officer in July 2022. Prior to comScore, he served as CFO at Publishers Clearing House starting in 2016, where he contributed to the transformation and growth of the digital business through both organic initiatives and mergers and acquisitions. His career also includes senior divisional CFO roles at Nielsen, Sears Holdings, and NBC Universal. He began his career with General Electric in their Financial Management Program.

Mary Margaret Curry, Chief Financial Officer and Treasurer

Mary Margaret Curry was appointed Chief Financial Officer and Treasurer in July 2022. She initially joined comScore in 2011 as Global Tax Director. Since then, she has taken on roles of increasing responsibility, including Senior Director of Global Tax Compliance and Reporting, Vice President of Tax and Treasury, and Senior Vice President and Controller. Before her tenure at comScore, Ms. Curry began her career at KPMG, where she served as a Senior Manager for nine years.

Steve Bagdasarian, Chief Commercial Officer

Steve Bagdasarian joined comScore in 2022 as Chief Commercial Officer. He is a seasoned digital technology executive with over 15 years of experience, with his roles spanning operations, strategy, business development, product, and marketing analytics.

Greg Dale, Chief Operating Officer

Greg Dale is an accomplished executive with a proven track record in driving innovation and growth in data and analytics businesses. He was part of the comScore team from 1999 to 2016, and rejoined the company through the 2021 acquisition of Shareablee, where he served as Chief Operating Officer. Prior to Shareablee, he was the Chief Operating Officer for Persado, an AI-based marketing content platform. He started his career working with data and analytic firms at Information Resources, Inc.

Sara Dunn, Chief People Officer

Sara Dunn is an experienced HR leader.

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The key risks to comScore's (SCOR) business include:

1. Macroeconomic Uncertainty and Cautious Advertiser Spending: comScore has consistently identified macroeconomic uncertainty and cautious advertiser spending as significant challenges, directly impacting its revenue, particularly within the cross-platform segment and syndicated digital products. This has led to a more cautious outlook, with expectations of flat revenue for Q2 2025 and full-year revenue guidance at the lower end of projections. Management's tone has shifted to emphasize disciplined spending due to these challenges.
2. Debt Levels and Financial Health: The company's financial health is a concern due to its debt levels. As of March 2025, comScore had liabilities that significantly outweighed its cash and near-term receivables. Analysts have expressed discomfort with the company's debt given its declining EBIT, making it harder to pay off obligations. The Q2 2025 results also noted that a net loss was primarily due to foreign currency fluctuations, income taxes, and interest on senior debt.
3. Evolving Regulatory and Privacy Standards: Changes in regulatory and privacy standards pose a continuous threat to comScore's business. These evolving policies and standards can impact how comScore collects and processes data, potentially affecting its products and services.

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• Deprecation of Third-Party Cookies and other persistent identifiers: Google's planned phase-out of third-party cookies in Chrome, following similar actions by Safari and Firefox, represents a fundamental shift in how digital advertising is measured and attributed across the open internet. ComScore, like many ad tech and measurement companies, has historically relied on these identifiers for cross-site tracking and audience measurement. This forces a costly and complex re-engineering of measurement methodologies, creating uncertainty and potentially eroding accuracy or market share for traditional providers. The inability to consistently track users across websites without these identifiers poses a direct challenge to comScore's core business of providing unified digital audience and advertising performance metrics.
• Rise of Walled Gardens and their Proprietary Measurement Solutions: Dominant platforms such as Google, Meta, Amazon, and TikTok operate "walled gardens" – closed ecosystems where they control vast amounts of first-party user data and often provide their own integrated measurement and attribution tools. These platforms make it increasingly challenging for independent third-party measurement companies like comScore to gain comprehensive, granular data access within their environments. As advertisers increasingly allocate significant portions of their budgets to these platforms, they may opt to rely on the platforms' native measurement solutions, thereby diminishing the perceived necessity or demand for independent verification by companies such as comScore across those specific channels.

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Comscore (symbol: SCOR) operates within several key addressable markets related to media measurement and analytics. The estimated sizes for their main product and service categories are as follows:

Digital Audience Measurement

• The global Digital Audience Measurement market was valued at approximately USD 6.4 billion in 2023 and is projected to experience substantial growth, reaching an estimated USD 21.9 billion by 2033. This represents a compound annual growth rate (CAGR) of 12.8% from 2025 to 2033.
• North America holds the largest share in the Digital Audience Measurement market.

TV Measurement and Analytics

• The global TV Analytics market size was valued at USD 3.75 billion in 2024 and is projected to grow at a CAGR of 19.5% from 2025 to 2030. Another estimate places the global Television (TV) Analytics market size at USD 5.20 billion in 2024, expected to reach USD 16.46 billion by 2032 with a CAGR of 4.50% during the forecast period.
• North America dominated the global TV analytics industry with a revenue share of 30.0% in 2024, with the U.S. TV analytics market leading the regional industry.
• For context, overall local ad spend in the U.S. is roughly around $24 billion.

Cross-Platform Measurement

• The global Cross-platform Measurement market size was valued at USD 4.9 billion in 2024 and is forecasted to hit USD 15.7 billion by 2033, growing at a robust CAGR of 13.7%.
• As part of the broader Audience Measurement Systems Market, cross-media systems are expected to contribute nearly 19% of the market share, growing at a CAGR exceeding 16% from 2025 to 2034 globally. The global Audience Measurement Systems Market itself was USD 10.48 billion in 2024 and is projected to expand to USD 12.09 billion in 2025, reaching USD 43.66 billion by 2034.
• The United States leads in the Cross-Media Measurement Systems segment with a 20% share and a CAGR of 17%.

Advertising Analytics and Solutions

• The global Ad Analytics Market is expected to reach from USD 6.04 billion in 2025 to USD 20.33 billion by 2035, at a CAGR of 12.9% throughout the predicted period.
• The U.S. Marketing Analytics Market size is estimated at USD 5.25 billion in 2025 and is expected to reach USD 9.56 billion by 2030, growing at a CAGR of greater than 12.73%.
• The global Cross Platform and Mobile Advertising Market stood at USD 290.66 billion in 2025 and is projected to reach USD 732.94 billion by 2030, reflecting a 20.32% CAGR.

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1. Expansion of Cross-Platform Solutions: comScore is experiencing significant growth in its cross-platform offerings, including Proximic, Comscore Campaign Ratings, and the recently launched Comscore Content Measurement (CCM). Cross-platform revenue increased by 20.2% in Q3 2025 and 60% in Q2 2025, driven by higher usage and new client agreements for integrated solutions. The company continues to expand its capabilities and product features in cross-platform measurement, which is a key player in the evolving media analytics landscape.
2. Growth in Local TV Measurement: comScore's local TV segment has consistently shown strong performance with double-digit growth. This growth is attributed to higher renewals and new business in the local TV market, reinforcing comScore's position as a leading metric in local market transactions and the only MRC-accredited local TV offering available.
3. Introduction of New Products and AI-Driven Solutions: comScore is actively investing in new products and capabilities, including enhancements to existing offerings, upgrading its technology stack, and providing faster data delivery. Notably, the company launched Comscore Content Measurement (CCM) in 2025, which has seen successful adoption with several clients signing long-term contracts. Additionally, comScore introduced a new AI measurement solution, contributing to revenue growth in its Research & Insight Solutions segment. The company is also focusing on AI-driven audience targeting solutions through Proximic by Comscore.
4. Strategic Customer Engagements and Market Position: comScore is focused on securing new clients for long-term cross-platform measurement agreements and enhancing agreement terms with preferred shareholders for greater financial flexibility. The company's unique position as the only offering in the market that is both MRC accredited and JIC certified for U.S. cross-platform measurement provides a competitive advantage, driving continued adoption of its services. Management remains optimistic about the cross-platform growth trajectory and the momentum from continued adoption providing additional growth opportunities heading into 2026.

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Share Repurchases

comScore has shown very limited to no share repurchase activity over the last 3-5 years, with a trailing twelve months (TTM) Buyback Yield of -0.09% and a median Buyback Yield of 0% over the past five years.

Share Issuance

• On December 20, 2023, Comscore executed a 1-for-20 reverse stock split, which reduced the authorized common shares from 275,000,000 to 13,750,000 and the total authorized shares from 380,000,000 to 118,750,000.
• A proposed recapitalization agreement announced on September 29, 2025, if approved, would involve the issuance of approximately 9.86 million common shares and 12.67 million new Series C preferred shares in exchange for existing Series B preferred stock.
• The proposed recapitalization aims to eliminate over $18.0 million in annual preferred dividends and a special dividend right of at least $47.0 million.

Inbound Investments

• On March 10, 2021, Comscore closed investment transactions with Charter Communications, Qurate Retail, and an affiliate of Cerberus Capital Management, where each made a cash investment for convertible preferred stock.
• Proceeds from these 2021 investments were utilized to repay and extinguish Comscore's senior secured convertible notes and a foreign secured term note.
• A proposed exchange with Charter, Liberty Broadband, and Pine, announced in November 2025, would swap Series B Preferred into new Series C Preferred plus common shares, aiming to retire Series B and eliminate related dividend rights.

Capital Expenditures

• Comscore reported capital expenditures of $653 thousand in 2025, $1,130 thousand in 2024, and $1,162 thousand in 2023.
• The company continues to invest in enhancing existing products, upgrading its technology stack, delivering faster data, and increasing interoperability through various integrations.