Outdoor media giant Ooh!Media has acquired an 85% stake in youth publisher Junkee Media. The deal, worth just above $11 million, allows Ooh!Media the right to acquire the remaining 15% in the future.
Ooh!Media says Junkee provides a strong platform to engage with more than 1.25 million unique visitors a month and 5.5 million millennials through social channels every week. oOh!’s stategy is to increase consumer engagement and drive advertiser return on investment.
Junkee Media is one of Australia's fastest growing media companies that targets the hard to reach millennial demographic.
Junkee's youth-focused titles include music sites inthemix and FasterLouder, travel title AWOL as well as the Cusp.
oOh! Chief Executive Brendon Cook said the company has been acquiring assets that provide advertisers more targeted audiences and build content capabilities as part of its digital and data strategy.
“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," Cook says.
“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.
“Junkee Media has superior online real estate, a track-record in connecting with the desirable millennial audience, and 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.”
Junkee Media will be maintained as a stand-alone enterprise with its existing management team, including CEO Neil Ackland, publisher Tim Duggan, studio GM Josh Rich and CIO Ian Grant.
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