iSelect & News Corp Join For $4.5m Marketing Partnership

iSelect & News Corp Join For $4.5m Marketing Partnership
B&T Magazine
Edited by B&T Magazine

iSelect Limited has entered an exclusive digital marketing partnership with News Corp Australia, said to be worth a minimum of $4.5 million.

Under the agreement, News Corp will receive payment for lead generation, content creation and revenue share of converted sales, iSelect said in a statement to the Australian Securities Exchange.

Commencing on 1 January 2021, the two-year agreement is valued at a minimum cost of $4.5 million.

Payment terms are 50 per cent via scrip (shares) up to a maximum of 5 per cent of ISU’s total issued share capital per annum and the remaining 50 per cent in cash.  The share price will be calculated on 90-day (prior period) VWAP with scrip payments calculated quarterly.

The terms of the agreement are for two years, unless terminated and standard termination clauses exist for both parties, which can be actioned in case of breach of contract and within time limits.

The agreement does not transfer any intellectual property rights.

iSelect chief executive Warren Hebard (pictured) said: “We have been incredibly impressed by how News Corp has understood our business objectives and developed a unique partnership model that goes well beyond the realm of traditional media buying.

“Expertly tailored to our business model, the partnership has been carefully modelled to deliver topline revenue growth within agreed ROI metrics. We are confident it will be a successful venture for both parties, with the potential to scale significantly beyond the agreed minimum spend.” and eCommerce managing director Richard Skimin added: “News Corp is very excited to partner with iSelect and this equity agreement demonstrates our belief in the strength of the iSelect brand.

“We believe the company has the potential for significant growth over the coming years and look forward to playing a key role in the next phase of iSelect’s journey.”

Please login with linkedin to comment

iselect News Corp

Latest News

Mumpower Launches Inaugural ‘Vote On Purpose’ Australian Business Awards
  • Uncategorised

Mumpower Launches Inaugural ‘Vote On Purpose’ Australian Business Awards

To celebrate brands going “above and beyond to act with purpose”, Mumpower has announced its first-ever consumer choice awards. The ‘Vote on Purpose’ Australian Business Award 2021 aims to crown Australia’s favourite purpose-driven company, with Mumpower now calling on both corporations and Mum shoppers to nominate a value-led company or a specific brand campaign that […]

Stan Sport Subscription Price Revealed
  • Media

Stan Sport Subscription Price Revealed

Sports fans will have to pay $10 a month to sign up for Stan Sport when it launches later this year, according to reports. The Nine-owned Sydney Morning Herald, is today reporting that Stan (also owned by Nine) will offer Stan Sport as a supplementary service, meaning fans must also have a subscription to Stan’s […]

Sitecore Secures US$1.2B In Funding
  • Technology

Sitecore Secures US$1.2B In Funding

Sitecore has secured $US1.2 billion in funding. Said to be prioritising internal chocolate river and flying elevator.