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Channel 4 has made its fourth deal from its Commercial Growth Fund, striking an airtime-for-equity arrangement with digital magazine newsstand, Readly. As part of the new seven-figure partnership, Readly will be able to launch its first ever TV advertising campaign in return for the broadcaster taking a minority equity stake in the all-you-can-read digital newsstand provider.
The major new TV advertising campaign for Readly has already launched across Channel 4’s linear channel network. Designed and created by The Gate, the core creative showcases the key features of the all-you-can read Readly service: over 1,500 magazines including the UK’s best-selling publications plus a wide range of international titles, delivered as digital editions to multiple devices, on or offline, with unlimited usage for a £7.99 per month subscription.
Vinay Solanki, Head of Fund, said: “We are impressed by Readly’s strong value proposition to consumers and the company’s entrepreneurial ambition. We believe their innovative business model will benefit from TV advertising exposure across our network enabling them to access our core young upmarket audience, to help this business grow their foothold in the UK digital subscription market.”
The Channel 4 deal comes hot on the heels of a promotional tie-up between Readly and Vodafone where the mobile phone operator is offering the all-you-can-read magazine service to core segments of its customer base.