Global advertising and media company Omnicom Media Group and multimedia company iHeartMedia are parties to an agreement in which they will present a united front and multiple opportunities for clients to get their message out.
The agreement is said to have a value of $200,000,000.
The entire array of media platforms in the iHM portfolio will be on the table for Omnicom’s many clients. The duo will combine to create cross-platform campaigns, and will collaborate on research to help clients assess their ongoing results and additional opportunities.
“Our partnership with iHeartMedia exemplifies Omnicom Media Group’s go to market approach, focusing on doing deeper, more significant deals with partners who are innovating in their category and providing more opportunities for our clients to engage with consumers in meaningful and memorable ways,” said John Swift, CEO North American Investment, Omnicom Media Group.
“At iHeartMedia we’re constantly searching for ways to utilize our unparalleled reach and insights into our consumers to help our advertising partners cultivate creative and cost-effective individualized marketing campaigns. What makes this new partnership with Omnicom so exciting is that it allows us to do that and more,” said Tim Castelli, President, National Sales, Marketing and Partnerships at iHeartMedia. “Ultimately, our collective goal is to leverage iHeartMedia’s technologies, insights, and comprehensive media offerings to provide Omnicom clients with richer media and marketing campaigns. We believe that with this new partnership, Omnicom Media Group clients will have the ability to leverage their partnerships with us to accomplish bigger and more impactful solutions.”
RBR-TVBR observation: This one makes us think of the old “united we stand, divided we fall” saw. Building this partnership between two companies that have a fork in the advertising pie, in entirely different and essentially non-competitive ways, makes a lot of sense and likely makes each stronger.
And there’s no reason this can’t be a model for a smaller, similar arrangement between a local market station group and a local agency that helps clients create and book radio advertising flights.
It might be worth exploring possibilities if the right kind of ad agency is operating in your neck of the woods.