Press Release: Time Inc. and GumGum Form Exclusive Partnership
NEW YORK--(BUSINESS WIRE)--Time Inc. (NYSE: TIME), one of the world’s leading media companies, and GumGum, the digital marketing platform for the visual web, announced today an exclusive agreement enabling Time Inc. to provide its advertisers the full suite of GumGum’s highly viewable, premium ad units across its US portfolio. The rise of the visual web, an evolution of the Internet as an image-first medium, marks a significant opportunity for companies such as Time Inc. to drive revenue while retaining the high quality audience experience synonymous with their brands.
“As images continue to play a significant role in premium content, we’ve found a partner that has built powerful technology solutions that will help us unlock the value of these compelling images for our advertisers,” said Andy Blau, Senior Vice President Advertising of Time Inc. “We are very pleased to join forces with GumGum to harness their technology in order to deliver highly viewable premium ad products and services for our partners.”
This partnership underscores Time Inc.’s continued dedication to providing innovative solutions for marketers seeking to access their ultra-premium network that includes leading content brands such as Sports Illustrated, Time, People, Fortune and Travel + Leisure. With GumGum, Time Inc. is able to further monetize its powerful content delivered to its highly engaged audience within a brand-safe environment.
“Time Inc. delivers some of the most engaging content on the web today. It’s exciting to partner with a company that truly understands the surging importance of images in our culture and that seeks to capitalize on it through GumGum’s innovative advertising formats,” said Ophir Tanz, CEO of GumGum. “As the web becomes more visual, media companies must find ways to utilize that to their advantage, and that’s exactly what this partnership represents. Today marks the start of a brand new relationship and we’re excited about its potential and future developments.”
GumGum continues to build on its strong momentum with a newly opened office in London, partnerships with more than 2,000 publishers and relationships with half of AdAge’s top 100 brands. The company has a global reach of 600 million uniques and recently raised $26M in financing from Morgan Stanley Expansion Capital.
About Time Inc.
Time Inc. (NYSE:TIME) is one of the world's leading media companies, with a monthly global print audience of over 120 million and worldwide digital properties that attract more than 150 million visitors each month, including over 60 websites. Our influential brands include People, Sports Illustrated, InStyle, Time, Real Simple, Southern Living, Entertainment Weekly, Travel + Leisure, Cooking Light, Fortune and Food & Wine, as well as more than 50 diverse titles in the United Kingdom such as Decanter, Horse & Hound and Wallpaper*. Time Inc. is home to celebrated franchises and events including the Fortune 500, Time 100, People’s Sexiest Man Alive, Sports Illustrated’s Sportsman of the Year, the Food & Wine Classic in Aspen, the Essence Festival and the biennial Fortune Global Forum. Hundreds of thousands of people attend our events every year. We have been extending the power of our brands through various investments and acquisitions, including the formation of Sports Illustrated Play, a new company devoted to youth and amateur sports, and the acquisition of inVNT, a company that specializes in live media. We also provide content marketing, targeted local print and digital advertising programs, branded book publishing and marketing and support services, including subscription sales services for magazines and other products, retail distribution and marketing services and customer service and fulfillment services, for ourselves and third-party clients, including other magazine publishers.
As the inventor of in-image advertising, GumGum is the digital marketing platform for the visual web. Our technology unlocks the value of connected images, and delivers highly visible campaigns and rich insights to marketers. Reaching over 400 million visitors as they view images and content across more than 2,000 premium publishers, GumGum ads consistently achieve an 81% viewability rate and deliver 10 times better engagement than traditional display options, resulting in superior brand lift for marketers and increased revenue for publishers. Powered by its core image recognition technology, GumGum also offers Mantii, a real-time image recognition tool for brands to identify and activate their most important images and engage their top influencers on social media.
With GumGum, leading brands from AdAge’s top 100 US advertising spenders list, including Disney, L’Oreal and Toyota, can target audiences with contextually relevant content through in-image and in-screen ads, native, video and programmatic options. GumGum is headquartered in Santa Monica, California, with six additional offices in the US and in the UK. Founded in 2007, GumGum is backed by investors including Morgan Stanley, NEA, Upfront Ventures, First Round Capital and Crosscut Ventures.