RealTime IT News

24/7 Media Targets Latin America

After firmly establishing its network in Europe and Asia, 24/7 Media Monday launched the 24/7 Latino advertising network to promote its services throughout the continent.

The company has already signed its first campaign deals and launched subsidiaries in Mexico, Brazil, Argentina and Peru. The subsidiaries will be managed by 24/7 Europe, which also played a major role in establishing 24/7 Latino.

The regional headquarters in Miami is now open, with 24/7 Latino serving as a holding company for the local subsidiaries.

Major Web sites signed include Argentina's largest Web site and free e-mail service Ciudad.com, Argentine portal Rionet and Brazilian shareware Gratis.com.

"Latin America is the world's fastest growing region in terms of Internet usage and online ad spending and 24/7 Media is the only online network operating throughout the entire region," said David J. Moore, 24/7 Media's CEO. "Expanding to the booming Latin American market is an important next step in establishing 24/7 Media's global presence."

24/7 Media (TFSM) expects online ad spending to hit $59 million this year in Latin America, with Brazil, Mexico and Argentina acting as the major markets. Spending is estimated to hit $1.9 billion in the next five years.

The ad player has opened offices in 28 cities in 15 countries.

24/7 Media Asia recently announced that it has secured advertising sales representation with over 175 major Asian Affiliated Web sites since its commencement of operations in December 1998. The Asia subsidiary, managed by China.com, includes Greater China, the ASEAN nations, Australia, India, South Korea and Japan.

24/7 Europe recently acquired leading Finnish online ad sales company Netbooking and combined it with 24/7 Suomi, 24/7's newly launched Finnish operation. The European branch was established at the beginning of the year through a $4 million majority stake in London-based InterAd Holdings Ltd.