Channel 5 secures pounds 1.2m airtime deal with online insurer

Channel 5 is poised to sign the first terrestrial TV equity-for-airtime deal in a contract worth pounds 1.2 million with the dotcom insurance company Rapid Insure.

Channel 5 is poised to sign the first terrestrial TV

equity-for-airtime deal in a contract worth pounds 1.2 million with the

dotcom insurance company Rapid Insure.



Rapid, which launched this month backed by pounds 1 million of venture

capital, will pay pounds 200,000 for advertising airtime while Channel 5

will take an 8 per cent stake in the company in exchange for sponsorship

worth pounds 1 million.



The dotcom will sponsor the weather during Channel 5’s main news

bulletins from 1 April until 31 March in 2001. Rapid’s sponsorship

bumpers will appear around three weather bulletins a day during the week

and three times over the weekend.



Nick Milligan, Channel 5’s sales director, said: ’We have been putting

in place an equity-for-airtime structure for some time. This is the

first deal and there are more to follow. Our objective is to catch

companies before they go to the second or third round of funding.’



The deal was put together by James Burgon, head of new business at

Channel 5, and Richard Dunbabin, managing director of Rapid. It is

another example of the broadcaster’s strategy to take a more creative

approach to advertising and media buying.



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