Time Inc. to offer text ads online
Time Inc. has teamed up with marketing firm Quigo to offer pay-for-performance advertising across the publisher's digital brands, including Time.com and People.com.
Using Quigo's AdSonar platform, Time Inc. will offer the option to buy text-based ads on individual Web sites, specific pages of a site or across a shopping cart full of sites. Advertisers will be able to buy ads using a self-service interface where they can choose from pricing options that include pay-per-click and cost-per-impression.
"Our clients and advertisers are telling us they want more transparency and performance-based ad solutions," said Dawn Bridges, a spokeswoman for Time Inc., New York. "For the first time we can offer our clients text-based pay-for-performance advertising on individual properties or across a network of Time Inc. sites."
The partnership is designed to build Time's digital media strength. It also serves as an answer to the industry's calls for transparency and performance in advertising.
Quigo will deploy a custom version of AdSonar for Time Inc. Time expects the exclusive agreement to generate more than $100 million in revenue over the next three years.
Time Inc. publishes 130 magazines, including People, Sports Illustrated and Time. The publisher's digital properties attract more than 19 million users monthly. Time Inc. is owned by Time Warner Inc.
Quigo was founded in 2000. Its AdSonar network includes sites such as ESPN.com, FoxNews.com and CareerBuiler.com. Quigo offers a suite of other search marketing products, including its flagship FeedPoint.
Before signing the Quigo agreement, Time Inc. sites used a number of different ad services. Time touts the partnership as providing a more integrated and "seamless" approach to online advertising.
"Digital is a key area for growth for us and we're putting a lot of resources toward Web sites, video and executives with digital experience," Ms. Bridges said. "The issues we are trying to address with this venture are transparency, accountability and targeting."