News Corp Australia is set to launch a new advertising initiative called News Prestige Network, offering high quality products and branding to attract luxury brands, to actively compete with Fairfax Media’s Prestige Group.
The News Prestige Network will launch next week, creating new in-house packages for advertisers to keep revenue within the company.
The packages will see print and digital assets combined, in ways to best appeal to key AB demographics and reach seven million Australian consumers.
Several of the brands featured in the network include print mastheads The Australian, the Wentworth Courier and the Bayside Leader and other titles Vogue Australia, Wish, Mansion, Vogue Living, GQ Australia, delicious and Buro 24/7.
Michael Miller, executive chairman of News Corp Australia, said that the Prestige Network was a “powerful proposition” for engaging with high-end brands.
“Our unique proposition is engaging with affluent consumers in the prestige brand environments they trust.
“We understand this audience and connect with them using News Corp’s unique customer intelligence and data to produce the best content and experiences for our luxury customer,” Mr Miller said.
Fairfax Media has long been known to appeal to top end advertisers. In 2015, the publisher launched Fairfax Prestige Group, which manages newspaper insert magazines, Life & Leisure section and magazines, BOSS, AFR.com, Sunday Life, Executivestyle.com.au and several titles.
Matt Rowley, Fairfax Media’s chief revenue officer for metro publishing, said that competition would not affect the publisher’s premium ad offering.
“We formed our Prestige group more than a year and a half ago – and we’re entirely focused on delivering the very best advertising results for our clients across the many prestige titles and platforms we operate.
“Our Prestige group has an impressive track record of providing superior results for prestige clients and brands, underpinned by Fairfax Media’s reach into the high-net worth audience and premium AB audience.
“With a weekly readership of 848,000 across Australia’s two biggest, most sophisticated cities, Good Weekend offers unparalleled reach into the audiences that matter to prestige clients.
This was in addition to The Australian Financial Review, which had deep roots in the top echelons of society and the business world..
Fairfax will continue to build upon the Prestige Group with the upcoming launch of a new luxury magazine.
The creation of privileged advertising space in a brand safe environment is paramount, with advertisers turning away from Google and Facebook and back to trusted mediums, Mr Rowley said.
The first half of 2017 has been problematic for Google and Facebook. In March, over a dozen of worldwide brands pulled advertising Google’s video streaming platform YouTube after it was discovered advertisements were being displayed beside extremist and offensive content.
Facebook has found itself in similar strife following the leak of its moderation process creating fears that branded content could appear with extremist content. The social media giant was also discovered providing incorrect metrics again in May.