Google's display ad business is about to explode (in a positive way), according to a new report. Omnicom Media Group has supposedly committed to spending hundreds of millions of dollars on Google's display ads over just the next couple of years.
To provide a little background info: Omnicom Media Group is the media services division of Omnicom Group, which has over 5,000 clients in 100 countries. It includes three full service media networks, and can, in other words, definitely live up to this commitment.
As for the specifics of said commitment, Emily Steel wrote earlier this morning that Omnicom "is expected to spend hundreds of millions of dollars to buy display ads for its clients through Google over the next two years, said a person familiar with the situation."
Then, "In return, Google will work with Omnicom to build a global 'trading desk' that allows the company to buy display ads more easily on Google's ad exchange, an auction-like system that matches ad buyers and sellers to advertising space across large groups of websites."
Which isn't a bad deal at all from the search giant's perspective.
The arrangement could benefit Google in other ways, too, since additional advertising agencies are likely to follow Omnicom's example.