Giant ad buyer MediaVest has signed an upfront advertising buy with Google that represents a "significant" commitment to Google's video, display and mobile inventory.
The deal gives MediaVest clients including Coca-Cola, Honda and Walmart access to online content including YouTube partner channels and access to Google insights, tools and strategists.
Financial terms were not disclosed.
Online media players like Google have been looking to get advertisers to buy advertising upfront on an annual basis, like they buy TV. They're hoping to draw dollars away from TV, which commands the largest share of ad spending.
"This new partnership truly enables MediaVest to realize the promise of online video at scale, which has been talked about but rarely realized," Christine Merrifield, president, investment, activation and operations at MediaVest, said in a statement. "This is a natural partnership for us as we leverage video, display and mobile for our clients. Google's clout and technology puts the consumer experience at the center and seamlessly connects that experience from owned and earned to paid distribution at scale."
"Agencies play a critical role in helping advertisers navigate the digital landscape. It's great to see savvy partners like MediaVest embrace the ‘upfront' model for digital buys as they look to connect their clients with some of the most exciting content online," said Torrence Boone, managing director, agency business development, Google.
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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