India’s media company NDTV’s digital arm NDTV Convergence on Friday (21) said that it has signed a five year agreement worth over Rs 3bn with the US based content recommendations engine Taboola.
Shares of NDTV on India’s stock exchange BSE recorded an up-tick of 9.94 per cent to close at Rs 39.25 on Friday amid the news that the media firm signed a five year deal with Taboola, the world’s biggest content discovery platform.
"The five-year deal ties NDTV Convergence exclusively to Taboola and involves a minimum guarantee of more than Rs 300 crore for NDTV Convergence, making it one of the largest deals, not just for digital content, but for the media space in its entirety," NDTV said in a stock filing.
Earlier, in September 2015, NDTV Convergence had signed around Rs 1 bn worth deal with recommendations engine, Taboola for 36 months.
According to NDTV, the latest deal signed is the biggest deal that Taboola has ever signed in Asia Pacific (APAC) region.
"Taboola uses its presence on sites like NDTV to recommend content from across the internet to the audience and to offer highly-personalised native advertising," the company said.
“The growth of the mobile internet in India is skyrocketing, and with over half a billion smartphone users, its mobile adoption is second only to China. Mobile users are continually looking for those “moments of next,” and publishers such as NDTV are well positioned to deliver a dynamic, personalised content experience to their readers,” said Adam Singolda, founder and CEO of Taboola commenting on the new deal.
The flagship portal of NDTV group, www.ndtv.com and all other digital properties of the group are owned and run by NDTV Convergence.
