AUS
NZ
UK
CA
USA
IND
Highlights:
Airtasker secures $18.4 million in premium advertising inventory through partnerships with Sinclair Broadcast Group and Mercurius Media Capital.
Additional $7.8 million media capital investment from Channel Four Television Corporation to support Airtasker’s UK operations.
Total media capital raised globally reaches $51.6 million in 2024, supporting Airtasker's global growth strategy.
Airtasker (ASX:ART) has secured significant media capital investments to bolster its global brand presence. The company has entered into agreements with Sinclair Broadcast Group and Mercurius Media Capital, securing $18.4 million in premium advertising inventory. This agreement, executed through its subsidiary Airtasker USA Inc., will promote the Airtasker brand across international markets.
The investments, structured as four-year $9.2 million unsecured convertible notes with a 5% coupon, offer Airtasker the flexibility to repay the funds in cash or convert them into equity at a discount upon maturity. These partnerships are set to span three and two years, respectively, further enhancing Airtasker's visibility.
In addition to the US partnerships, Airtasker UK has secured an investment of $7.8 million from Channel Four Television Corporation. This funding comes in the form of a three-year 5% convertible note, which also offers the option to repay or convert into Airtasker equity at a 10% discount. Channel Four’s extensive reach, with an audience of 47 million people each month across its platforms, will significantly bolster Airtasker's UK presence. This follows a prior $6.7 million investment from Channel Four in June 2023.
These new media capital arrangements bring the total raised by Airtasker in 2024 to $51.6 million. The company has already secured $25.4 million since June of this year, with the latest round further fueling its expansion plans. Airtasker’s approach involves leveraging its scalable software platform to drive growth in international markets while utilizing cash flows from its Australian operations.
Airtasker’s CEO, Tim Fung, highlighted that these partnerships align with the company’s global growth strategy, providing the opportunity to reach wider audiences and increase brand recognition globally. The company continues to enhance its profile through collaborations with key media partners like oOh!media, ARN Media, TelevisaUnivision, and iHeartMedia.
