NBCUniversal to sell ads for cable spinoff Versant
NBCUniversal on Wednesday announced it will sell ads for Versant, the new name for Comcast's spinoff of most of its cable networks including USA, CNBC and MSNBC.
Why it matters: The deal allows Versant to focus on programming and product while outsourcing ads to NBCU, which already intimately understands the portfolio.
Zoom in: NBCUniversal said the two-year agreement includes the domestic ad inventory for CNBC, E!, Golf Channel, MSNBC, Oxygen, Syfy, USA and digital platforms and will be available in One Platform, its unified service for media buying.
Mark Marshall, NBCU's chairman of global advertising and partnerships, will manage the sales strategy. NBCU's president of platform monetization Tom Winiarski will move to Versant as executive vice president of ad sales strategy and monetization.
"By entering into this partnership with Versant, we're maintaining that simplicity for our partners and ensuring a single, dedicated sales team will represent the companies' collective inventory and drive revenue for all the iconic IP that our viewers love," Marshall said in a statement.
Terms of the deal were not disclosed.
Zoom out: This arrangement isn't the first time NBCU has served as seller for another company.
Apple partnered with NBCU in 2019 to be the exclusive seller of ads in Apple Stocks and Apple News. Apple now sells its own inventory, but the previous arrangement and this new deal shows a wider opportunity for NBCU to be an ad seller against other properties.
The big picture: NBCU, which celebrates its 100th anniversary next year, has grown into an ad sales behemoth and helped diversify and grow Comcast's revenue. Under previous ad chief Linda Yaccarino, the business was publicized as exceeding $12 billion in annual ad revenue.
The media giant brought in record-breaking revenue for the Olympics at $1.9 billion in the 2024 Paris Games. It's betting on more revenue wins around upcoming big events including the next Super Bowl, the NBA and more Olympics.
What we're watching: Versant will have to chart its own future for streaming as NBCU keeps Peacock. CNBC launched its own streaming service, CNBC+, that's available on Roku and Apple TV devices.
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