Motor and home insurer, Budget Direct, has acquired Chasing Cars, an automotive content and video platform.
Founded by Tom Baker in 2013, Chasing Cars also operates a YouTube channel providing independent, long-form reviews and comparisons of new cars available to Australian buyers and delivering over a million views every month. Financial terms have not been disclosed.
Budget Direct’s latest ‘insurance solved’ campaign aligns with the acquisition of Chasing Cars, Auto & General chief marketing and delivery officer, Jonathan Kerr noted. “Chasing Cars is an obvious fit. We are thrilled to bring Chasing Cars into the Budget Direct family, adding ‘car reviews solved’ to our outstanding customer experience,” said Kerr.
“Chasing Cars is such a great platform for us to help our customers find and learn about their next car purchase, while retaining and enhancing the editorial independence of this first-rate car review source.”
Editor and founder of Chasing Cars, Tom Baker, will continue to lead the publication, which will remain independent, while Budget Direct will fund operations. The publication will not need to follow the traditional monetisation model observed in automotive media, where outlets typically advertise for the same models that they are reviewing, or otherwise generate revenue directly from car manufacturers.
“This transparent funding arrangement will make Chasing Cars the most independent automotive media platform in Australia, providing buyers with the confidence that they are not consuming content funded in whole or in part by revenue from car manufacturers,” Baker said.
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