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oOh!media acquires Junkee Media

Wednesday, 29 June 2016
By Print21

oOh!media's RAC billboard

ASX-listed outdoor advertiser oOh!media has paid $11 million for an 85% stake in youth publisher Junkee Media as part of its digital and data strategy.

“Junkee Media has superior online real estate, a track-record in connecting with the desirable millennial audience, is among the best in the business when it comes to developing native content that works and has proven its ability to amplify advertisers messages through social channels,” said oOh! Chief Executive Brendon Cook.

Junkee Media is one of Australia’s fastest growing media companies and its youth-focused titles include Junkee, music sites inthemix and FasterLouder, and native content platforms AWOL and The Cusp. Junkee engages with more than 1.25 million unique visitors a month and 5.5 million millennials through social channels every week.

Under the deal, oOh!media will acquire 85% of Junkee Media for $11.05m, with a right to acquire the remaining 15% of shares from three remaining Junkee shareholders.

Cook said oOh! has been acquiring assets that not only provide advertisers with more targeted audiences but also build on its content capabilities as part of its digital and data strategy.

“Native advertising is increasing in importance each year in Australia. This reflects trends in the US, where native advertising is growing at 17% per annum. We started this journey with the launch of content platform Q-view and we later added Hijacked.com.au and ShortPress.com.au to deliver advertisers a 360-degree offline and online marketing channel to reach specific audiences. These content platforms have generated new revenue from advertisers, in categories including telco, B2B, travel, tourism and government, who have invested in campaigns that combined Out Of Home advertising with native content running across the social, online and mobile platforms.

“The acquisition of Junkee Media was the natural next step for oOh! as it is a clear market leader and has set the benchmark for native content engagement in a mobile and social world,” said Cook. “With the rapid growth of short form social mobile video content and Junkee Media’s clear expertise in delivering this content, we are excited about the possibilities of delivering the best content across our market leading digital signage network in environments designed to engage with audiences.”

Junkee Media CEO Neil Ackland added: “We are very excited to become a part of oOh!, a company that clearly shares our ambition to be at the forefront of digital innovation and content. The media landscape is changing at an incredible pace, and together we are uniquely positioned to benefit from the disruption.”

oOh!media's giant Audi billboard

 

 

 

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