Airtasker Limited (ASX: ART) has announced a series of strategic media partnerships, raising a total of $51.6 million in media capital in 2024, reinforcing its commitment to global expansion. The partnerships include a combined $26.2 million in new media capital secured from Sinclair Broadcast Group, Mercurius Media Capital, and Channel 4, highlighting Airtasker’s innovative media-for-equity growth strategy.
Key Media Partnerships
1. US Expansion: Sinclair and Mercurius Partnerships
- Sinclair Broadcast Group: Provides US$6 million ($9.2 million) in advertising inventory across Sinclair’s 185 owned/operated TV stations in 86 US markets, along with digital multicast networks like Comet and Charge!
Comment: Andrew Schnell, Sinclair VP, praised Airtasker’s innovation and growth potential, calling the partnership a “mutual success.” - Mercurius Media Capital: Offers another US$6 million ($9.2 million) in premium advertising inventory spanning broadcast, streaming, and digital networks, including partnerships with:
- TelevisaUnivision: A leading Spanish-language media company.
- Willow TV: A prominent cricket broadcaster.
2. UK Growth: Channel 4 Follow-On Investment
- Channel 4 has increased its media capital investment with an additional £4 million ($7.8 million), building on its £3.5 million ($6.7 million) initial stake in 2023.
- Airtasker’s UK revenue grew over 100% year-on-year in 1Q25, driven by Channel 4’s extensive broadcast and digital reach to 47 million monthly viewers.
Comment: Vinay Solanki, Head of 4 Ventures, highlighted the partnership’s role in Airtasker’s rapid UK expansion from London to Birmingham and Manchester.
- Airtasker’s UK revenue grew over 100% year-on-year in 1Q25, driven by Channel 4’s extensive broadcast and digital reach to 47 million monthly viewers.
Strategic Benefits
- Global Media Reach: Airtasker leverages its scalable software platform and cash flow from Australian operations to penetrate new markets, turbocharged by local media partnerships.
- Revenue-Based Equity Buybacks: Airtasker retains flexibility by repurchasing media partner equity in local entities based on revenue multiples, maximizing upside while mitigating risk.
- Mission Alignment: Partnerships align with Airtasker’s goal to empower people to monetize their skills, fostering growth in diverse markets.
CEO Commentary
Tim Fung, Airtasker Founder and CEO, expressed excitement about the partnerships:
“We’ve now completed over $51 million in media partnerships alongside leading global brands like Sinclair, Mercurius, and Channel 4. This lets us step on the gas and take Airtasker’s mission across the world!”
Future Outlook
With Airtasker’s growing portfolio of media partners—including oOh!media, ARN Media, iHeartMedia, and TelevisaUnivision—the company is poised for rapid growth in its US and UK operations. These partnerships position Airtasker to capture significant market share in the local services economy, bolstered by innovative advertising and scalable operations.
