Multiply Gets $5 Million and a Television Partnership
Multiply.com, the world’s fifth largest social networking site and home of the “family-friendly networking” has partnered with ABS-CBN, Lifetime’s “The Balancing Act,” and received $5 million in funding from ABS-CBN. These partnerships promise several benefits for all three groups.
Multiply, which specializes in “real world” networking rather than the random networking of sites like Myspace or Facebook, is based in Boca Raton just like us. They became the only social network to offer photo finishing solutions this year and have made their name as the “family-friendly” and privacy-oriented social networking site, focusing on networks based on real life relationships (friends, family, friends-of-friends, etc.). This partnership with ABS-CBN promises not only the initial funding of $5 million, but also another $4 million in options for marketing investment over the next two years. Multiply will also become the official networking and connect site for the popular Lifetime Networks TV show “The Balancing Act.”
ABS-CBN is the largest integrated media and entertainment company in the Philippines, with both television and radio programming networks. The company’s television networks reach an estimated 97% of all VHF-receiving television households in the Philippines while it’s anchor stations in Manila are the highest-rated stations on the AM and FM bands in Mega Manila. This partnership with Multiply will allow ABS-CBN to further press their reach globally.
The Balancing Act is a popular Lifetime Networks television show for women who seek personal, professional, and family balance and growth. The show focuses on solutions and “news-you-can-use.” The show will utilize Multiply as their exclusive contact network, allowing viewers to connect with the show’s producers and on-air talent to ask questions and receive more information.
“Our new agreement will allow us to continue to expand our reach with ABS-CBN audiences, as well as promote global awareness as our companies expand into new markets,” says Peter Pezaris, Founder and CEO of Multiply.
Matt Gore, VP of Marketing at Multiply, says that they’re “very excited to be providing the social community for Lifetime Television’s The Balancing Act and their viewers…”
The partnership marks a big step in global media integration as social networking sites continue to expand from the Internet into television and music. With cell phones streaming television and movies, social sites pairing up with comedians and musical groups, and now television integrating with social networking, the future is becoming clearer for media-based marketing: one medium is not enough in today’s technology-driven world.
