by Kristen Schweizer, BloombergBusiness
WPP Plc, Snapchat Inc. and the Daily Mail newspaper announced a new marketing agency Tuesday that will create online brand-sponsored video and print content to cash in on some of the projected $544 billion in media ad spending.
Called Truffle Pig, the agency will be based inside WPP’s Group SJR content marketing agency in New York. The agency is seeking brands to sign up, and will use DailyMail.com, Elite Daily and Snapchat to test original content marketing. Its content and services will extend to any online platform that a brand wishes to be marketed on.
“Great content is not just about creating it, but having platforms for it,” Alex Jutkowitz, the head of Group SJR who will head the Truffle Pig agency, said during a press conference at the Cannes Lions advertising festival, the biggest annual gathering of ad executives. “Engaging millennials and having distribution is key. Snapchat is where the millennial fish are and that’s where we are going.”
Content marketing is continuing to draw attention as top advertising executives gather on the French Riviera for the festival, with agencies turning to producers, directors and journalists to create longer content, which is increasingly looking like TV programs and even short films.
“With the need for story-driven marketing on our sites and those of other media companies, and new ad format like Snapchat, brands need a truffle pig,” John Steinberg, the chief executive officer of the Daily Mail North America, said at the news conference.
WPP Plc is the world’s largest advertising agency. Snapchat last month raised $537.6 million in a sale of common stock, with the funding round valuing the messaging startup at about $16 billion, a person with knowledge of the matter said at the time. Snapchat users view more than 2 billion videos every day, according to the company.