This week, Omnicom Group Inc’s media services division inked a comprehensive new deal with Twitter, the social media behemoth that is fast becoming a major player in the world of mobile advertising.
Omnicom’s signed a deal worth $230 million with Twitter that, according to both parties, will fuse together Omnicom’s automated ad buying unit with Twitter’s mobile ad exchange MoPub.
The two-year deal will lock in ad rates and inventory access for Omnicom agencies and will also give Omnicom a “first look” at new ad units and opportunities being developed by the microblogging site… The deal is expected to drive better pricing and targeting, said Jonathan Schaaf, president of U.S. Digital Investment for Omnicom Media Group.
“Twitter’s been a major advertising partner for our clients in the past…(Omnicom) wanted to form a closer business relationship with Twitter that extends beyond just media buying,” Schaaf is quoted by Reuters.
Although Twitter has confirmed the deal with Omnicom, the microblogging platform hasn’t dished any further details on the scope and aims of the partnership.