Thanks to a new global agreement with Google, Mondelez International is setting its sights on online video. Mondelez International says that it sees exciting possibilities in this medium and plans on investing more of its media spending in digital and online video.
"We believe video will be a key growth driver for our brands, and programmatic buying will play an important role in accelerating that growth," said Bonin Bough, Vice President of Global Media and Consumer Engagement at Mondelez International. "Today, 58 percent of consumers turn to digital platforms for their daily media consumption. Although we've adjusted our media spending to reflect that behavior, there's still a gap. The deal with Google will enable us to close that 'digital divide.'”
"This new agreement is our largest in digital media so far, further solidifying our position as a digital pioneer,” he went on. “It showcases a cutting-edge approach to video that will make media buying, creative production, data and analytic work together in real time and at a fraction of the cost."
"We're inspired by the caliber of creative work that brands are creating on YouTube," Lucas Watson, Vice President of Global Brand Solutions at Google agreed. "This agreement represents a significant commitment for our companies to accelerate digital brand building and we're excited to partner with Mondelez International on this work."
According to a press release, the agreement includes a substantial global upfront advertising commitment, strategically aligning Mondelez International with its goal of advocating resources towards the effort of the expansion of global innovation platforms, Power Brands, and breakthrough technologies.
"Online video is crucial for our brands as it enables us to achieve higher unduplicated reach and ROI,” Bough explained. “By shifting more of our spending to online video, we'll significantly increase our ROI and this will help fuel growth for our Power Brands.”
Mondelez International and Google will also be working together on content pilots through YouTube's Brand Partner Program. Through an additional partnership with global youth media company Fullscreen, Mondelez International will be featuring influential digital stars with Sour Patch Kids in its high quality, cost efficient video content. Mondelez International is considering expanding this approach to brands and locations outside the United States as well.
The company says that the new agreement, brokered in conjunction with Starcom MediaVest, covers developed markets in North America and Europe in addition to emerging markets in Eastern Europe, Latin America, the Middle East and Asia Pacific.
Congratulations on this exciting new partnership, Mondelez International!