SINGAPORE: Advertising giant Publicis Groupe SA has agreed to buy Singapore’s Hepmil Media Group to bolster its social media expertise in South-East Asia’s rapidly growing online market.
Hepmil works with more than 3,000 high-value creators making memes and other content for over 450 brands, the companies said in a joint statement yesterday.
They didn’t disclose a value for the deal, which is one of the highest-profile Internet takeovers in South-East Asia in what’s been a slow year for mergers and acquisitions.
The purchase underscores social media’s rising importance for advertising companies, with consumers spending increasing amounts of time on their smartphones scrolling through apps such as TikTok and Instagram.
Hepmil, whose sites Sgag and Mgag are known for memes and other funny content, attracts 10s of millions of visitors a week across its properties.
Hepmil’s irreverent content in South-East Asia has built a cult-like following among young, digitally savvy consumers in the region of 675 million people.
Its pool of online influencers and troves of marketing data has helped it clinch deals with brands including Disney, Google and Uniqlo, which are seeking to lure difficult-to-impress Gen Z and millennial audiences.
The acquisition marks one of the biggest outlays yet in the region by France’s Publicis, which has been snapping up companies in the social media and influencer marketing space. Advertisers are spending more money on influencers to promote their brands to get people to pay attention and buy into their marketing. — Bloomberg
