Airtasker inks $5m advertising boost from Nine Entertainment

The news: Online task marketplace Airtasker has received a $5 million advertising boost from Nine Entertainment, aiming to increase its brand awareness in Australia.

The context: Under the deal, Nine Entertainment will allow Airtasker to advertise across its cross-platform media including free-to-air television channels, 9Now streaming service, and its other digital and publishing brands for over two years.

The advertising agreement is in exchange for a $5 million convertible note, with a 4.9% coupon payable at the maturity date of 1 July 2028.

What they said: “The era of artificial intelligence is set to accelerate the shift in human labour from office-based roles toward local trades and skilled craft work, and we’re thrilled- through this partnership-to further invest in our brand position as the number one marketplace for local services in Australia,” Airtasker CEO Tim Fung said.