NEW YORK, Feb. 25, 2021 /PRNewswire/ -- MediaMath, acclaimed independent advertising technology company for leading brands and agencies, today announced the expansion of its Purpose-Driven Advertising initiative via its Multicultural Marketplace. The Marketplace is designed to activate advertising spends on nearly 1,000 multicultural publishers that are either owned by or focused on building content for People of Color. The Marketplace has enabled brands and publishers such as Penguin Random House to champion diversity and align their marketing with their values.
"We have to ensure that the advertising we place reflects our values," said Dawn Valandra, Director of Ecosystems Solutions at MediaMath. "We value these voices and these stories. We want high-quality content coming out of minority communities to thrive on the advertising-supported open internet. That isn't going to happen by accident or without intent."
Penguin Random House has joined MediaMath in its mission to empower brands to reach diverse audiences, support minority publishers, preserve the open internet and reward quality content with journalistic standards through Purpose-Driven Advertising. In addition, a Fortune 100 B2B company leveraged the Marketplace to drive bottom-line results. With quick activation of the company's ad spend within the Marketplace, MediaMath enabled the brand to invest more than $500,000 in minority businesses, while also improving their ad campaign's performance. The targeting capabilities of the Marketplace decreased the company's CPM by 26 percent and increased the efficiency of their CPA by 13 percent.
"The Multicultural Marketplace platform provides a valuable way for organizations to support and connect with minority communities. We recognize the importance of diversity in our books and authors, and the Marketplace helps us reach the right audiences efficiently and effectively to drive best-in-class multicultural marketing campaigns," said Anthony Key, Multicultural Marketing Director of Penguin Random House. "We plan to leverage the Multicultural Marketplace more in the future as MediaMath continues to foster a digital ecosystem built by Purpose-Driven Advertising."
These companies are demonstrating their commitment to economic development in minority communities by financing publishers that tell stories critical to the cultural landscape and connecting brands to audiences that need and want to hear their messages. MediaMath welcomes others to join this effort under the overall principle that cost per million impressions and click-through rates alone cannot drive advertising spend—values, content, and context matter.
MediaMath and Penguin Random House have demonstrated their commitment to connecting people with the stories that matter to them, and now look forward to seeing the real change that the Multicultural Marketplace can drive in support of minority communities.
Within the Multicultural Publisher Marketplace, brands can also expand their reach and communicate their solidarity on key issues with the use of tools that provide audiences of consumers who have self-identified as supporting cultural movements, such as Black Lives Matter. Through new partnerships with industry leaders like Peer39, Alliant, and Spaceback, MediaMath's Purpose-Driven Advertising initiative has created a brand-safe and accountable ecosystem that enables marketers to reach targeted audiences on quality content regardless of the platform or device.
As brands continue to look for tools that diversify their advertising spends across new channels like CTV and programmatic video without sacrificing brand safety, targeting capabilities, or attribution, MediaMath's suite of Purpose-Driven Advertising products and solutions helps brands form genuine connections with consumers while ensuring ad spends match the beliefs and causes for which they stand.
MediaMath helps the world's top brands deliver personalized digital advertising across all connected touchpoints. Over 9,500 marketers in 42 countries use our demand-side platform every day to launch, analyze, and optimize their digital advertising campaigns across display, native, mobile, video, audio, digital out of home, and advanced TV formats. Founded in 2007 as a pioneer in "programmatic" advertising, MediaMath is recognized as a Leader in the Gartner 2020 Magic Quadrant for Ad Tech and has won Best Account Support by a Technology Company for two years in a row in the AdExchanger Awards.
MediaMath initiated an industry-wide effort to create a 100% accountable, addressable and aligned supply chain through the SOURCE ecosystem. SOURCE by MediaMath is a technical and commercial framework for agencies, brands, tech companies, and content owners designed to provide long-term sustainable solutions for a clean digital media supply chain with brand-safe, viewable inventory. MediaMath has offices in 15 cities worldwide and is headquartered in New York City. To learn more about how MediaMath helps innovative marketers delight their customers and drive real business outcomes, follow us at @mediamath or visit www.mediamath.com
About Penguin Random House
Penguin Random House, the world's largest trade book publisher, is dedicated to its mission of nourishing a universal passion for reading by connecting authors and their writing with readers everywhere. The company, which employs more than 10,000 people globally, was formed on July 1, 2013, by Bertelsmann and Pearson. As of April 1, 2020, Bertelsmann is full owner of the company. With more than 300 imprints and brands on six continents, Penguin Random House comprises adult and children's fiction and nonfiction print and digital English- German- and Spanish-language trade book publishing businesses in more than 20 countries worldwide. With over 15,000 new titles, and more than 600 million print, audio and eBooks sold annually, Penguin Random House's publishing lists include more than 80 Nobel Prize laureates and hundreds of the world's most widely read authors.
Contact: Masha Krylova, firstname.lastname@example.org
View original content to download multimedia:http://www.prnewswire.com/news-releases/mediamath-expands-purpose-driven-advertising-initiative-champions-multicultural-media-via-curated-marketplace-301235038.html