Instagram Lands First Big Ad Deal Worth $100 Million
Mar 08, 2014 14:05
Is a return-on-investment in the pipeline already? Facebook may be starting to recoup some money it paid for the photo sharing platform. Ad Age reports that Instagram has inked an ad commitment with Omnicom, a global advertising company, for up to $100 million in ad spend over the course of a year on the social network.
Facebook confirmed the deal but not the price.
"This is an exciting new chapter and we’re looking forward to the great creative content that comes out of this partnership," a Facebook rep said in a statement. "Omnicom shares our passion for and understanding of the mobile Instagram community. Along with their clients, they’ll help to continue to set a high bar for creative work that inspires people."
Early advertisers on Instagram's platform included Michael Kors, Burberry and Ben & Jerry's. Now with them inking a deal with an ad agency, the number of ads will probably increase.
"This doesn’t change our advertising strategy moving forward," the rep said in the statement. "People will continue to see a limited number of beautiful, high–quality photos and videos from select brands who already have a strong presence on Instagram.”
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