Cisneros invests in digital advertising by purchasing Audio.ad
DetailsJuan Fernandez Gonzalez | 22 March 2015
Cisneros Interactive, a corporate division of Cisneros, is continuing to diversify its business by acquiring a majority stake in Audio.Ad, a digital audio advertising network that reaches more than 35 million users in Latin America and the US Hispanic market.
Founded by Argentinan Internet entrepreneurs German Herebia and Carlos Córdoba, Audio.Ad is a network of audio spots serving Latin America and the US Hispanic market, allowing advertisers to place audio advertising spots in traditional, over-the-top (OTT) and streaming audio services on a variety of connected devices, such as computers, smartphones, tablets, and digital audio players.
“Cisneros Interactive continues its strategy for innovation in digital advertising, acquiring a majority interest in the first network of audio spots in the region. This investment supports two true impresarios of the digital world, who we previously partnered with in 2011 when Cisneros Interactive invested in RedMas, an online ad network they founded”, pointed Victor Kong, president of Cisneros Interactive.
As a result of the buy-in, RedMas will exclusively market Audio.Ad's advertising solutions in Latin America and the US Hispanic market.
“The entry of Cisneros Interactive as a partner of Audio.Ad allows us to expand our network into every market of the region, and will even
allow us to open an office in Brazil by the first half of 2015”, explained Herebia.
“Today, radio and music are heard on multiple devices, and this presents a great opportunity for brands, as well as for digital content producers”, added Córdoba.
According to the company, online radio consumption registered an increase not only in the US but throughout the region. In Latin America, listeners consumed an average of 30 minutes of audio content a day through various devices connected to the Internet.
“This scenario empowers Audio.Ad's business, which in its first three months conducted campaigns for more than 20 advertisers in six countries and established affiliations with the region's main digital audio players,” said Gonzalo Alonso, managing director of Audio.Ad.
Cisneros Interactive has been lately diversifying its digital business, having purchased by the end of 2014 ITCLICKVIDEO, a Latin American premium video-on-demand (VOD) platform offering original content to digital advertisers.