Facebook & Instagram To Sign US$50m Omnicom Ads Deal
New York, March 8 — Facebook Inc’s Instagram mobile photo-sharing service has signed an advertising deal valued at about US$50 million (RM163 million) with Omnicom Group Inc, people with knowledge of the matter said. The agreement will let brands that work with Omnicom show promotional videos and pictures to Instagram users, said the people, who asked not to be identified because the details aren’t public.
The pact is part of Facebook Chief Executive Officer Mark Zuckerberg’s push to generate more sales from mobile users, which now make up more than half of ad revenue. Instagram, which Facebook bought for more than US$700 million in 2012, only rolled out advertising five months ago with brands such as Lexus and Ben & Jerry’s.
WhatsApp, which Facebook is purchasing for US$19 billion, gets subscription revenue from messaging users and doesn’t advertise. “Omnicom shares our passion for and understanding of the mobile Instagram community,” Jim Squires, director of market operations at Instagram, said in a statement. “Along with their clients, they’ll help to continue to set a high bar for creative work that inspires people.”
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