Google Reportedly Enters $100 Million Partnership With Magna GlobalBy: Chris Crum - February 18, 2014
Google has reportedly struck an “upfront” deal with Interpublic Group’s Magna Global, which oversees $37 billion in media billings globally.
USA Today reports that Magna Global has committed $100 million of client money to Google properties including YouTube, the Display Network and mobile. The deal is for a year with the option to renew, and Magna gets access to Google ad inventory, data and “the chance to work more closely on client marketing campaigns” with Google.
The report quotes Torrence Boone, managing director of agency business development for Google in the Americas: “There’s the notion of being able to tap into scarcity around inventory, which is critical and underpins the upfront model in TV. That model is porting over to digital.”
He reportedly also hinted that Google is readying a new class of “scare, premium ad inventory.”
On Friday, Magna announced a strategic partnership with comScore, Experian and Rentrak to launch “high definition buying,” a cross-platform data set with solutions for planning, buying and optimizing media across TV, digital, video and mobile.
“By creating a new marketplace for our clients based on a more accurate way of targeting most valued customers and understanding which messaging motivates key buying decisions, we will further our goal of delivering the most effective plans for each and every campaign,” said IPG CEO Jacki Kelley. While MAGNA negotiates with all media on behalf of the organization, the investment we have made in tools like High Definition Buying separates us from our competitors. We believe that no client is alike and therefore no media plan should ever be duplicated if we are indeed to drive true business outcomes,”
High Definition Buying became available immediately.
Image via Magna Global