News Corp Australia has acquired the rest of Melbourne-based video content business Visual Domain, taking its holding to 100% from 70%.
Commercial details haven't been released.
The Visual Domain deal is the latest strategic investment to scale News Corp Australia’s commercial content business, following a similar move to take full control over Medium Rare in December 2022 and a stake in finance news and marketing site Stockhead in May 2022.
Mike Connaghan, News Corp Australia's MD of commercial content, says this deal adds to the company's fast-growing commercial content business.
“We first invested in Visual Domain three years ago because we recognised video was increasingly becoming a very important medium for not only News Corp Australia, but our clients too. Since that time demand for video advertising has grown some 27%," he says.
“Our portfolio of commercial content operations in the form of Visual Domain, Medium Rare, Suddenly and our internal creative agency Roller combined with our own audience networks and brands featuring market-leading first party data means we can service our clients with the best campaign solutions.”
Connaghan paid tribute to Visual Domain’s founders Reneece Brewster and Daniel Goldstein who will now step aside from their roles, saying the pair are great entrepreneurs who were among the first in the market to recognise video’s importance.
“They have since helped literally thousands of Australian businesses tell their stories and build their brands, a legacy we are excited to build on," he says.
The Visual Domain founders says they created a great foundation for Visual Domain’s future success.
“When we launched Visual Domain in 2008 there were just the two of us and now we have grown to be an 80-person strong business with an award-winning team that really is the best in the business," the duo said.
“Our clients are in great hands.”
Visual Domain veteran Arna Toffolo will lead the business into the future and help build on its tier-one client base with clients such as National Australia Bank and MYOB.
Connaghan says Toffolo has been key to Visual Domain’s success since coming on board almost a decade ago and is very well known in the market.
“We have clear ambitions to further grow Visual Domain’s position as the leading commercial video agency in terms of size, client roster and revenue," he says.
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