SUNNYVALE, Calif. & LONDON, May 16, 2008 (BUSINESS WIRE) — Yahoo! Inc. (NASDAQ:YHOO) and WPP’s (NASDAQ:WPPGY) GroupM, 24/7 Real Media and WPP Digital today announced a strategic partnership that will enable WPP agencies to buy digital display advertising across the Internet more efficiently than ever before. The partnership will initially involve a collaboration between Yahoo! and WPP’s GroupM and 24/7 Real Media.
“More and more, we see the need for agencies and media and technology companies to work together to create a new level of value,” said Mark Read, WPP’s Director of Strategy and CEO of WPP Digital. “We are very pleased to have established this partnership with Yahoo! which, enabled by our earlier acquisition of 24/7 Real Media, will turn this vision into a reality.”
As part of the agreement, WPP agencies, working through 24/7 Real Media, will develop a proprietary media trading platform that connects to Yahoo!’s Right Media Exchange. WPP agencies will work with 24/7 Real Media to integrate their proprietary targeting capabilities into the platform and develop custom trading strategies, which can be seamlessly executed via the Right Media Exchange on a highly targeted and cost-effective basis.
“As marketers take new approaches to understand and engage consumers, we are thrilled to partner with a powerhouse like WPP to evolve and grow their digital practice with our next-generation solutions,” said Hilary Schneider, EVP of Global Partner Solutions for Yahoo!. “We are committed to providing the technology, insights and media expertise required to deliver the most relevant audiences across the web and to power the seamless conversation with consumers that drives greater brand awareness, consideration, intent and most importantly – action.”
WPP will also work with Yahoo! to develop a WPP marketplace, giving WPP’s agencies even greater access to inventory, visibility across the market and insight into value. WPP intends to draw inventory for the WPP marketplace from Yahoo!’s owned- and-affiliated networks and 24/7’s Global Web Alliance. The marketplace would also be open to third-party publishers.
“This partnership with Yahoo! will give our agencies and, in turn, our clients, an advantage in securing more relevant, high-quality digital media inventory. And, it will be aggregated to our bespoke needs, at the best value for our clients,” said Irwin Gotlieb, CEO of GroupM.