Twitter's mobile ad space is worth $230 million to advertising giant Omnicom

[Correction: An earlier version of this story incorrectly stated that Omnicom Group and Publicis Group were planning to merge. The two companies called off the merger May 8. We regret the error.]

Advertisers have steadily become more engaged with Twitter as social and mobile advertising has surged.

That engagement reached a new level today with the announcement that Omnicom Media Group has signed a $230 million deal to place ads through Twitter’s ad network, MoPub, over the next two years. The deal primarily focuses on mobile ad placements, a person close to the situation told VentureBeat.

Omnicom is currently the second largest global advertising conglomerate, with revenues of $14.5 billion in 2013.

Under the deal, Omnicom will have locked-in rates for ad placements, as well as right of first refusal on new ad space. Omnicom’s programmatic ad buying unit, Accuen, will integrate with MoHub, so that placements can happen in real time, based on targeting data.

The deal has not moved the dial on Twitter’s stock price, which has been headed downward since May 13 and closed at $30.50 today. Nor has this affected Omnicom’s stock all that much: It’s been on a steady rise since mid-May and is now selling at $70 per share.

Another “Big Five” global advertising conglomerate, Publicis Group, announced May 19 that it had struck a similar deal with Facebook to gain greater access to the social media giant’s ad property and targeting data.

Via: Wall Street Journal