Omnicom Media Group, Reddit form ‘Enterprise Partnership’
As part of its ongoing effort to scale its advertising business, Reddit has struck what it calls an “enterprise partnership agreement” with Omnicom Media Group (OMG).
The agreement with Omnicom is one out of steps Reddit is taking to expand its advertising revenue base, which is still relatively small. It has confirmed reaching $100 million in ad sales in 2019 with a plan to reach $1 billion in the next two to three years.
The deal covers clients of OMG agencies Hearts & Science, OMD, PHD and Resolution and is designed to optimize their media placements on the social platform.
Under the agreement, a first for Reddit, OMG clients will have access to Reddit’s creative strategy team, education and training tools. They will also get early access to new ad products, testing, data and measurement and reporting tools.
Those resources should help OMG clients more effectively engage with Reddit’s 52 million daily active users, the company said.
Reddit’s global agency lead for Omnicom Media Group, Andrew Abbott, noted that the platform has been working with OMG for some time to “navigate this shift toward online communities and ensure their effective place within them. Formalising the working relationship was the logical next step.”
OMG President, US Investment, Sal Candela said: “At a time when brands are more focused than ever on building an emotional connection with consumers, Reddit’s communities offer a unique opportunity for brands to engage with customers around their passion points.”
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