Google has entered into a major upfront ad deal with MediaVest.
The two announced a pact today that commits Publicis-owned MediaVest and its clients like Walmart, Coca Cola and Honda, to a major digital presence across Google properties (like YouTube) and partner sites.
MediaVest has committed tens of millions in ad spending, according to the Financial Times, which first reported on the story. A source with knowledge of the deal said it extends over multiple quarters.
This is Google's first deal with such a large agency buying upfront, but it's a model the company hopes becomes routine.
"The momentum is building for a shift on the digital side to move to more of an upfront model, which is what buyers are used to on TV," one digital ad buyer said.
Google has hosted digital upfronts in the tradition of major TV networks over the past several years, specifically for YouTube.
But the deal with MediaVest allows brands to advertise across the Google landscape from YouTube to premium websites to mobile apps.
“This new partnership truly enables MediaVest to realize the promise of online video at scale, which has been talked about but rarely realized,” said Christine Merrifield, MediaVest president of investment, activation and operations, in a statement released today.