This global partnership will bring Philips and AOL Time Warner to new consumers around the world. Under the multi-year agreement, the two companies will focus their collaboration on a series of online, on-air and print marketing initiatives to help increase both the reach and scope of their brands worldwide.
Interactive Marketing & Integrated Media and Advertising
AOL Time Warner and Philips Consumer Electronics and Domestic Appliances & Personal Care divisions will co-develop new online marketing destinations that will showcase products and services from Philips, and include certain related content from AOL Time Warner online properties. These platforms, which will include functionality like decision guides to improve consumers’ shopping experiences, will be designed to highlight both companies’ retail partners and enable consumers to easily purchase Philips products. These new areas will be available within the popular Shop@ destinations across several America Online brands. They will also be promoted across AOL Time Warner’s various online media properties, both in the U.S. and around the world.
In addition, Philips will be promoted across several of AOL Time Warner’s wide range of print and broadcast properties. These include Turner Broadcast networks such as CNN and Time Inc. magazines such as TIME and FORTUNE.
Philips will also make available its distribution strength and global reach to help AOL acquire new members.
Exploration of Next-Generation Technologies
Furthering their previous relationship, Philips and AOL Time Warner have also agreed to pursue a strategic supply agreement. The two companies will also continue to work together and explore several initiatives to determine the next generation of set-top boxes and potential opportunities for online interactive services integrated with television.
Bob Pittman, Co-COO of AOL Time Warner, said: This relationship truly highlights the value that only AOL Time Warner can deliver to its strategic partners. By expanding our relationship with Philips to include a number of the marketing and commerce assets that we now have in our portfolio, we’re able to accomplish a number of important goals. First, we will offer consumers more innovative products from Philips to choose from to help make their lives easier and more convenient. Second, we will help Philips drive growth of its business through increased brand awareness. And finally, we will introduce more consumers around the world to our online features and services.
Gerard Kleisterlee, Chief Executive Officer of Royal Philips Electronics, said: This alliance fits perfectly with our ambition to build a high growth technology company and is powerful for both Philips and AOL Time Warner. By partnering to further develop several of Philips’ key technologies, and marketing them with and through AOL Time Warner’s brands, we can accelerate and broaden the pipeline of new products and services to consumers to help make their lives easier and more convenient. The alliance will extend Philips’ reach and brand awareness in the U.S., and AOL Time Warner will have greater access in Philips’ backyard – Europe. It is a win-win for both companies, truly exciting and it will help to position Philips as an even stronger player in tomorrow’s digitally connected world of the Internet.
