Australian-based video marketing specialists Brand New Media has sold a third of its Singapore operations to the nation state’s largest publisher for $6.6m.
Singapore Press Holdings took the stake through its subsidiary SPH Interactive, saying it will give its advertisers access to “world class” video content services and provide them with a “stronger holistic solution for content creation and targeted distribution across print, digital and radio”.
It will have three call options to increase its 34.7 per cent stake in BNMS “under certain circumstances”.
BNMS, which lists Citibank, NTUC Fairprice, Heath Promotion Board and the Media Development Authority as clients, is a wholly-owned subsidiary of Australia-based Brand New Media.
“In recent years, consumption of online videos has seen a steady rise in Singapore,” said SPH digital division head Julian Tan. “This highlights the relevance of videos not just to consumers but also as a key marketing tool for brands and advertisers.
“SPH’s strategic investment into BNMS comes at an opportune time as we strive to complement and enhance our video storytelling capabilities.”
The publisher highlighted BNM’s “end-to-end” content creation and distribution services, while its technology platform ChannelPLAY can “create, manage, distribute and monetise content to new and existing audiences”.
BNM Asia chief executive Damien Bray said the firm was excited about bringing its services together with SPH’s “trusted and credible mastheads”.
“BNM looks forward to working with SPH to bring a whole new level of innovation to the media market in Singapore,” he added.
Steve Jones for Mumbrella Asia