Frankly Media Partners with Newsweek in Multi-Year Service Agreement
Frankly Will Leverage its Media Services Platform to Drive Increased Audience Engagement, Personalization and Revenue for Newsweek
NEW YORK, Sept. 6, 2019 /PRNewswire/ -- Frankly Inc. (TSX-V: TLK) (OTCQX: FRNKF) ("Frankly" or the "Company"), through its multiplatform engagement, monetization and data subsidiary, Frankly Media, has signed a multi-year service agreement with digital news producer Newsweek to provide its media services platform to help grow revenues as well as increase first party engagement and overall audience for the iconic brand. Through this arrangement, Frankly will also look to expand the number of monthly active users ("MAUs") across its network to over 100 million.
Under the terms of agreement, Frankly will make available the full breadth of its multimedia suite to help Newsweek grow its 40 million monthly active user base and capture first party data through various touch points, including over-the-top ("OTT") video, registration, native mobile apps, contesting and newsletters. Frankly will utilize its audience management platform to deliver highly personalized experiences for Newsweek's users while looking to boost time spend and advertising revenues across its media properties.
"Newsweek is delighted to partner with Frankly Media," said Dev Pragad, Newsweek's CEO. "This is a highly strategic, multi-year transaction with a value of at least $50 million, that will unlock huge commercial and operational benefits to Newsweek. We also stand to benefit greatly from Frankly's video expertise and access to a huge pool of video content."
The partnership between Frankly and Newsweek will demonstrate the value of leveraging a fully integrated multimedia platform for broadcasters, online publishers and other media companies. The goal of this curatorial process will be harnessing first party data to drive more personalized and engaging viewing experiences for readers and advertisers. Through one-to-one targeting, Newsweek will be now be able to deliver greater performance from branding campaigns by segmenting its first party data through both behavior and intent-based characteristics.
"This partnership between Frankly and Newsweek goes much deeper than simply advertising sales," said Frankly CEO Lou Schwartz. "We plan to work hand-in-hand with Newsweek to leverage the full arsenal of digital technology, services, and data gathering available through our platform to build upon the scale of our unwired network, which will now exceed over 100 million monthly American readers, viewers and listeners. Together with Newsweek, Frankly can now offer advertisers a premium, brand safe environment and scalable alternative to big tech platforms. We are both truly invested in each other's future and are honored to be representing Newsweek now and into the future."
Frankly Media provides a complete suite of digital solutions for media companies to create, manage, distribute and monetize their content on all platforms maximizing audience engagement and revenue potential. The company is headquartered in New York with offices in Atlanta, Toronto and Bangalore. For more information, visit www.franklymedia.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Statements
This release includes forward-looking statements regarding Frankly and its respective businesses, including amount of revenues anticipated to be generated, the products and services to be launched, the ability of those products and services to increase user engagement and enhance commercial and operational benefits for customers. Forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the parties. Forward looking statements depend on certain assumptions that management deems to be reasonable in the circumstances, but such assumptions may prove to be incorrect and the outcome of the subject of any forward-looking statement cannot be guaranteed. Such assumptions are based on, among other things, continuing growth in online audiences and advertising opportunities, the ability of partners to create and deliver engaging content, and access to critical markets, resources and vendors. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Frankly undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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SOURCE Frankly Media
Released September 6, 2019