Time Inc. and Quigo Enter Into Long-Term, Exclusive Agreement
Time Inc., one of the largest content companies in the world and the largest magazine publisher in the U.S. and U.K., and Quigo, a pioneer and leading provider of performance marketing solutions for advertisers and premium publishers, today announced that they entered into a multi-year, exclusive agreement. Under the terms of the agreement, the companies will deploy a custom version of Quigo’s private label AdSonar platform and create a new category of performance advertising across Time Inc.’s leading digital brands including: Time.com, CNNMoney.com, People.com, EW.com, InStyle.com, SI.com, Golf.com, FanNation.com, SouthernLiving.com, SouthernAccents.com, Sunset.com, CottageLiving.com, CoastalLiving.com, CookingLight.com, and MyRecipes.com. According to Nielsen, Time Inc.’s digital properties command an audience of over 19 million unique visitors each month and will add to Quigo’s already sizeable and fast growing network of other premium sites.
For the first time with this new program, Time Inc. will be able to directly offer its customers text-based pay-for-performance advertising solutions on an individual property like CNNMoney.com or across a collection of Time Inc’s sites. Marketers will also be able to buy ads via an easy, self-service interface (Time.quigo.com). And unlike other blind ad networks where advertisers are uncertain of the specific sites or pages where their ads will run, Quigo’s AdSonar-powered advertising platform will offer full transparency and control. Advertisers will be able to buy many types of advertising and can target specific pages like the Home Page of People.com, sections like “Time.com - Health and Science” and hundreds of topics or keywords such as, “Mutual Funds” or “Chicago Cubs.” Quigo and Time Inc. will also offer advertisers a variety of pricing options including pay-per-click auctions, cost per impression and others to be developed over time. The new program will help Time Inc. attract new advertisers and budgets that will generate significant incremental revenue. Based on the program’s design, other Quigo deployments, and Time Inc.’s experiences with sponsored links as well as the type of advertising yield, the companies estimate that advertising revenues will top $100 million over the first three years of the partnership.
“Our partnership with Quigo underscores Time Inc.’s strategic focus on becoming a powerful force in digital media. Quigo was the partner that could enable us to sell a Time-branded solution directly to our own advertisers so we can become a leader in performance-based advertising,” said Ann Moore, Chairman and Chief Executive Officer of Time Inc. “After a rigorous evaluation, we came to the clear conclusion that Quigo’s custom platform provided the best solution for us to own our advertiser relationships and generate significant incremental revenue.”
“We’re excited to welcome Time Inc. to the AdSonar network. This partnership is a milestone for Quigo and a clear trend we see in the online advertising industry where sophisticated media companies are increasingly demanding more tailored and innovative monetization solutions,” said Mike Yavonditte, Quigo’s Chief Executive Officer. “Time Inc. has some of the crown jewels on the Internet and together with Quigo’s technology and unique approach, we will be able to create a new ad marketplace designed to further Time Inc.’s brands in the digital age. In doing so, Time will capture the full value of their brands while also building their own advertiser asset base. We look forward to launching the new program in July and to expanding our partnership in the coming years.”
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