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Rapid in equity swap for C5 ads

Online insurance intermediary Rapid Insure has done a ground-breaking deal

in swapping equity for advertising time on Channel 5.

Rapid, which offers life and general insurance products, has linked up

with Channel 5 for a high-prof ile advertising campaign on the channel&#39s

weather programmes.

As part of the deal, Channel 5 has taken an 8 per cent stake in the

company in return for the exclusive sponsorship rights to thrice daily

weather broadcasts.

The agreement is worth £1m in advertising time.

Channel 5 estimates that over the course of the year-long deal, Rapid

Insure&#39s advertisements will be viewed by 58 per cent of the adult populatio

n or 26 million people.

Rapid originally approached the channel after reading an interview where

C5 officials expressed an interest in swapping advertisement time for

equity.

Rapid is also running an aggressive three-month campaign created by

Greenfield Computer Marketing that will target other traditional media

outlets and online sites.

Rapid business development director James Spalding says: “We will be able

to build our brand faster than we could have otherwise.”

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