Three of the biggest names in media are teaming up to launch a native advertising company. Advertising giant WPP, online news behemoth the Daily Mail and on-trend tech startup Snapchat signed the papers on their new venture 'Truffle Pig' last week. The trio are joined by the less well-known Group SJR, labelled 'the biggest publishing company you've never heard of' last year.
The company was launched today at the Cannes Lions communications festival by WPP CEO Sir Martin Sorrell, Snapchat co-founder Evan Spiegel, the Daily Mail's North America CEO John Steinberg and SJR managing partner Alexander Jutkowitz.
Credit: Daily Mail/Andrew Parsons
'In a digital world overflowing with content, consumers crave quality,' said Sorrell. 'A next-generation company, Truffle Pig combines the best in media, content and user experience to satisfy people’s appetite for great storytelling – and inspire brand engagement, loyalty and sales.'
The tie-up makes a lot of sense. WPP is a world-leader in creating branded media, while the combined audience of Snapchat and Mail Online is well into nine figures. It's perhaps surprising to see Buzzfeed, the other most-talked-about media company in the world, absent from the line-up - although it's been building its own native advertising for a while.
As for the unusual name, 'A truffle pig finds the rare and tasty,’ said Steinberg. ‘With the need for story-driven marketing on our sites and those of other media companies, and new ad formats like Snapchat, brands need a truffle pig.'
‘Content and truffles are almost exactly alike,' added Jutkowitz, who has been appointed Truffle Pig’s CEO. 'All content is equal, but some content is more equal than others. And truffles are a little more equal than some of the fungus we see in the world.' Make of that what you will...