WPP invests in digital content company Fatherly in the US

wppWPP is taking a minority stake in IR Media Ventures Corp. (“Fatherly“), a digital media company producing content for millennial parents in the US.

Fatherly’s advertising and branded-content clients include Johnson & Johnson, Mattel, Inc. and the New York Life Insurance Company. Fatherly is based in New York and employs approximately 40 people. It was founded in 2015. Other investors in the Series A round include BDMI, the investment arm of Bertelsmann, Crosslink, Lerer Hippeau Ventures, SoftTechVC and the United Talent Agency.

Fatherly has worked with over 100 brands to date, developing and distributing native advertising, custom videos and custom branded content. It has created franchise series such as “940 Weekends,” which is a reference to the number of weekends parents have to spend with their children between birth and the age of 18, “My Father The…,” a series of interviews with the sons and daughters of famous men, and its upcoming “Father of the Year” awards.

WPP’s digital revenues were over US$7.5 billion in 2016, representing 39% of the Group’s total revenues of US$19.4 billion. WPP has set a target of 40-45% of revenue to be derived from digital in the next four to five years. Digital represented 41% of WPP’s revenues as of June 30, 2017. In North America, WPP companies (including associates) collectively generate revenues of US$7.5 billion and employ almost 29,000 people.

UK, London & USA, New York, NY

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