News Corp Australia has expanded its footprint in commercial content, boosting its stake in video agency Visual Domain from 70% to 100%.
Managing director of commercial content Mike Connaghan said the deal will add to the company’s fast-growing commercial content business.
“Specifically, it allows us to provide more outstanding video services to our existing clients,” he said.
“We first invested in Visual Domain three years ago because we recognised video was increasingly becoming a very important medium for not only News Corp Australia but our clients too. Since that time demand for video advertising has grown some 27%.
“This momentum has continued to grow and we can better scale it now thanks to our growing suite of commercial content brands.”
The increased investment in Visual Domain follows the company taking full control over Medium Rare in December 2022 and a stake in finance news and marketing site Stockhead in May 2022.
“Our portfolio of commercial content operations in the form of Visual Domain, Medium Rare, Suddenly and our internal creative agency Roller combined with our own audience networks and brands featuring market-leading first-party data means we can service our clients with the best campaign solutions,” Connaghan added.
Visual Domain’s founders Reneece Brewster and Daniel Goldstein will now step aside from their roles.
Visual Domain co-founders Renece Brewster and Daniel Goldstein
“Reneece and Daniel are great entrepreneurs who were among the first in the market to recognise video’s importance,” Connaghan said.
“They have since helped thousands of Australian businesses to tell their stories and build their brands, a legacy we are excited to build on.”
Connaghan added that Visual Domain veteran Arna Toffolo will now lead the business into the future and help build on its tier-one client base with clients such as NAB – whose CMO jumped to Google this week – and MYOB.
“Arna has been key to Visual Domain’s success since coming on board almost a decade ago and is very well known in the market.
“We have clear ambitions to further grow Visual Domain’s position as the leading commercial video agency in terms of size, client roster and revenue.”