Irish firm to sell internet advertising,advertising business
An Irish firm has confirmed plans to sell advertising online, as it looks to shift to the digital space.
The firm, which previously sold advertising to the public, said it was looking to expand its online advertising offering to include mobile, tablet and television platforms.
Online advertising is one of the most profitable segments for digital companies and the firm’s Chief Executive, Richard Ryan said in a statement.
“We will be launching a new online advertising business in the next few months and the digital business is part of this, we are committed to delivering the best digital experience for our clients,” Mr Ryan said.
“Our digital strategy is to continue to invest in technology and to make it easy for our users to make an impact.”
Online advertising has emerged as a key area of growth for companies such as Facebook and Google, and has also attracted considerable attention from regulators in the US, Europe and Australia.
Online adverts have traditionally been paid for by ad agencies, rather than paid publishers.
The digital world has been flooded with advertising in recent years, and is increasingly seen as an increasingly important revenue stream for digital firms.
The Irish government last year approved the sale of internet advertising rights to the US firm Zacks in what was seen as a significant shift towards the use of paid publishers and the development of a more digital-friendly advertising model.
“This is a great opportunity for Zacks, and we look forward to working with them to accelerate the growth of this innovative advertising business,” the Irish government said in its press release.
“It is a tremendous opportunity for all of our agencies, including the ones in Ireland, to take advantage of this valuable new revenue stream,” it said.
Online publishers have been particularly aggressive in their pursuit of the lucrative online ad space, with Zacks recently announcing that it had raised €4.4 million ($5.6 million) in Series A funding, with a total of €40 million ($50 million) still to come.
Online companies have been encouraged to take part in the ad space as the market is rapidly changing, with many of the top publishers selling advertising through a mobile or tablet app.