Eyeconomy renews Express partnership
One-year extension between MediaCorp subsidiary and newspaper group expected to generate £1m per annum.
Eyeconomy, the advertising subsidiary of Purple Lounge owner Media Corporation, has renewed its deal to provide all third-party advertising for news group Express Newspapers.
Under the terms of the deal “ extended by a year until February 2013 “ Eyeconomy will both manage third-party ads (including banner advertising) and seek new media deals for its partner.
After it was first signed in 2009, the partnership has been worth approximately £1m per year, with Eyeconomy suggesting that it is “Expected to generate similar revenues going forward.”
Titles covered by the agreement include the Daily Express, Sunday Express, OK, New Magazine and Star Magazine.
Eyeconomy recorded year-on-year revenue growth of 160% in MediaCorp’s most recent annual results, rising from £2.8m in FY 2010 to £7.3m for the following 12 months.
In June this year it agreed a deal with online publisher Digital Sports Group to manage third-party advertising content for all its websites.
MediaCorp sold its Gambling.com domain to KAX Media earlier this year for a sum of £1.5m.