Foursquare selects IMS Internet Media Services as exclusive monetization partner in Latin America
Partnership with Digital Advertising Leader Will Allow Foursquare To Expand Ad Products to Latin America.
MIAMI (MARCH 26, 2014) –– IMS Internet Media Services (IMS), the leading media and marketing company that partners with fast-moving businesses looking to scale across Latin America, has been selected by Foursquare as their exclusive advertising sales partner in the region, expanding the reach and scope of Foursquare’s advertising tools to new markets in 2014.
Later this spring, IMS will introduce dedicated sales teams in two of the region’s major markets, Brazil and Mexico, to help advertisers reach consumers with campaigns utilizing the full suite of Foursquare’s advertising products.
One advantage of Foursquare’s products for brand marketers is that advertisers are only charged on a Cost-Per-Action basis, or when a user either interacts with an ad or checks into a specific venue within 72 hours upon seeing that ad. Engagement rates for Foursquare far outpace those of traditional banner advertising and provide actual, measureable ROI for brands.
To familiarize brands with these products and the nuances for advertisers targeting consumers in these markets, IMS will offer customized training programs for agencies and brand advertisers on how to best optimize these formats.
“We’re thrilled to partner with Foursquare, one of the most recognizable names in social today,” said Ignacio Vidaguren, COO of IMS, “Foursquare enjoys tremendous popularity in the region, and many brands will benefit from the unique advertising opportunities to reach consumers that only Foursquare can offer.”
“One of the key goals for Foursquare in 2014 is to expand our advertising tools to additional markets worldwide, and we’re glad to work with IMS to enter Latin America,” said Steven Rosenblatt, Chief Revenue Officer of Foursquare. “IMS has the experience, marketplace knowledge, and manpower to help us scale up operations quickly and efficiently. Brands already love using Foursquare to reach new customers in the United States and we have no doubt this will be the case in each new market we enter.”
The introduction of Foursquare Ads in Latin America comes as the region is experiencing exponential year-over-year Internet growth and among the highest mobile penetration and social media engagement rates in the world: According to comScore, Latin American internet users spend ten hours a month – twice as much as the average in the rest of the world – on social media platforms. Smartphone adoption is also projected to continue above global averages in 2014 and upcoming world events such as the 2014 World Cup and 2016 Olympic Games will present new mobile advertising opportunities for brands and businesses of all types.
Foursquare will be the latest leading technology company to partner with IMS in recent years to scale, monetize and navigate the nuances of the region. In 2012, IMS was selected by Twitter as the company’s exclusive ad sales partner in Latin America, and in 2013, Waze selected IMS as its exclusive regional ad sales partner. Most recently, Spotify partnered with IMS to enter the market with advertising opportunities on the music-streaming platform.
IMS Internet Media Services is a leading media and marketing company that partners with fast-moving businesses seeking to expand into Latin America or grow within the region. We offer multi-channel media planning and buying services, including a proprietary ad network, mobile and social divisions, and leading third party platform integrations. Our business services bring market insight and expertise to help resolve operational challenges unique to the region. IMS partners with leading brands such as Twitter, Netflix, Waze and Spotify, as well as more than 150 agencies across Latin America. IMS has offices in Miami, Brazil, Mexico, Argentina, Colombia, Chile, and Uruguay.
Foursquare is a free mobile app that helps you keep up and meet up with friends. Since 2009, more than 45 million people have joined Foursquare, checking in around the world over 5 billion times. Those check-ins power the Foursquare Explore search engine, which provides personalized recommendations of the best places nearby. In addition, more than 1.6 million businesses (from large brands to small merchants) have used our advertising and merchant tools to attract and maintain valuable customers. More than 50,000 developers, including some of the internet’s most popular properties use the Foursquare API to add location to their apps. Foursquare was founded in New York City, and has offices in San Francisco and London.