Facebook has entered into a multi-year advertising partnership with Publicis Groupe, according to a report from AdAge. It's said to be worth about $500 million.
The report includes this quote from Laura Desmond, CEO of Starcom MediaVest Group which led the negotiations:
Publicis and Facebook are announcing a multi-year partnership focused on co-creation of product around data, video and images, including core Facebook and Instagram
Facebook data, as a result of the deal, will reportedly be integrated into Publicis' media-mix-modeling platform, while Publicis' product will be integrated into Facebook's new ad network.
Facebook announced the Audience Network at f8 last month.
The deal between Facebook and Publicis will reportedly focus on North America at first, before expanding to other parts of the world.
Publicis is said to be the number 3 advertising holding company in the world.
A BIA/Kelsey report released last week projects social ad revenues in the U.S. to hit $15 billion in 2018.
Image via Facebook