iHeartMedia, Omnicom Media Group Start Multi-Platform Partnership
October 7, 2014 at 11:31 AM (PT)
iHEARTMEDIA INC. and OMNICOM MEDIA GROUP have agreed to a $200 million, multi-platform partnership providing OMNICOM MEDIA GROUP clients with exposure and access to iHEARTMEDIA INC.'s roster of events, sponsorship opportunities and technologies. The partnership will result in increased access to creative services and campaign ideation for OMNICOM MEDIA GROUP's advertising clients.
As part of this new partnership, OMNICOM MEDIA GROUP and iHEARTMEDIA will collaborate on developing new, groundbreaking audio and cross platform opportunities for clients that leverage technologies and insights from both companies. In addition, OMNICOM MEDIA GROUP and iHEARTMEDIA INC. will develop joint research to provide clients with more comprehensive assessments of their advertising campaign efficacy while also informing media mix modeling.
"Our partnership with iHEARTMEDIA INC. 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," OMNICOM MEDIA GROUP CEO/NORTH AMERICAN Investment JOHN SWIFT said.
"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," iHEARTMEDIA Pres./National Sales, Marketing and Partnerships TIM CASTELLI said. "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."