Airtasker has partnered with Australian outdoor media company oOh!media and Australian broadcast audio company NOVA Entertainment in a move to improve brand visibility.
Each partner will provide Airtasker with $5.5 million in media capital over the next three years to further accelerate brand awareness in Australia.
oOh!media provides access to more than 30,000 sites across Australia, including billboards, street furniture, airports, office towers and retail centres.
Meanwhile, NOVA adds eight metro radio stations across five major capital cities, plus digital audio, podcasts and Coles Radio in more than 800 stores nationally.
The terms of the oOh!media partnership provide Airtasker with $5.5 million (excluding GST) over 3 years in advertising services across its out-of-home assets in exchange for a $5.0 million convertible note, with a 4.9 per cent coupon (oOh!media Note).
At maturity, Airtasker has the option to convert the outstanding oOh!media Note and accrued interest into ordinary shares at a 10 per cent discount to the 30-trading day volume-weighted average share price of Airtasker shares ending on the maturity date or repay the outstanding oOh!media Note and accrued interest in cash.
“Airtasker is super excited to be partnering with oOh!media once again, and to be adding NOVA and their powerful audio ecosystem to our roster of media partners,” Airtasker CEO Tim Fung said.
“These partnerships help us grow our brand in a capital efficient way, with national reach across out of home and audio – and the flexibility to go big when it counts.”
“The era of AI is set to accelerate a shift in human labour toward local trades and skilled craft work; work that is hands-on and in-person. Demand for what we do is going to grow, and these partnerships let us further strengthen our position as the number one marketplace for local services in Australia.”
Commenting on the partnership, oOh!media’s chief strategy & transformation officer, Andrew Every said: “Airtasker is about getting things done in the real world, and its customers are exactly the people our network connects with every day.”
“This partnership has been driven by creativity and innovation from the outset. You can see it in the work we’ve created together and in the strong brand growth that’s followed. We’re proud to extend our partnership and continue supporting Airtasker’s success for another three years.”
Commenting on the partnership, NOVA’s chief commercial officer Nicole Bence said: “We’re really looking forward to kicking off our partnership with Airtasker. They understand that when you want people to take action, who delivers the message matters. Any media partner can get you reach.”
“What sets us apart is the trust and influence our creators have with their audiences, and the power of those relationships to drive real business outcomes. When a brand’s story starts with us, it doesn’t end there. The right creator can bring it to life well beyond the ad break.”
