- Technology platform Tinybeans (TNY) has renewed and expanded its advertising partnership with LEGO for the rest of 2020
- Based on a strong 2019, where all engagement metrics were significantly up, both companies have decided to renew the contract
- Because of the success, LEGO has re-committed to a 50 per cent larger partnership with Tinybeans in 2020
- In 2019, 65 per cent of Tinybeans consumers said they were likely to purchase LEGO Duplo products, while 80 per cent had a favourable opinion of the brand after seeing Duplo advertised on Tinybeans
- This partnership will be the largest Tinybeans has signed to date
- Tinybeans is up 15.3 per cent on the market today and shares are trading for 94 cents each
Technology platform Tinybeans (TNY) has renewed its advertising partnership with LEGO for the rest of 2020.
Based on a successful 2019, where all engagement metrics were significantly above average, LEGO has re-committed to a 50 per cent larger partnership in 2020.
This is the largest partnership that Tinybeans has signed, and the LEGO partnership renewal will have a significant and immediate impact on revenue.
In 2019, Tinybeans’ ‘halo effect’ was strong, with advertising for LEGO Duplo on Tinybeans’ platform leading to an 80 per cent favourable opinion with consumers. A
A halo effect is a type of bias that affects how something is perceived, causing consumers to see a product in a certain light because their opinion is influenced by something they trust. As Tinybeans is a well known and popular brand for families, consumers tend to think more positively about a brand like LEGO Duplo because of the company endorsement.
The increased likelihood to recommend and the probability of purchasing LEGO Duplo products amongst Tinybeans’ customer base increased 78 per cent and 65 per cent respectively.
“We’re thrilled to announce that LEGO Systems has committed to Tinybeans for 2020 to advertise its early childhood content and products on our U.S. platform,” Tinybeans CEO Eddie Geller commented.
“We’re so proud to partner with such an iconic brand, as it again proves the immense value of Tinybeans in the family space,” Eddie explained.
“Tinybeans’s robust data targeting based on first-party analytics enables us to shares the benefits of Duplo products with the right families at their precise moment of need and reinforces Tinybeans’ growing power as a trusted source of child-related product recommendations,” he added.
Tinybeans is up 15.3 per cent on the market today and shares are trading for 94 cents each at 3:05 pm AEDT.