H2O New Media, a UAE-based social media agency, has announced the launch of TigerFish Network, the first Middle East-based social media advertising network.

TigerFish Network will allow advertisers to target their online marketing strategy based on user profiles and user defined preferences, a top company official said.

"The region is ready for its own advertising network as we witness growth in social media platforms. Although companies like Google and Yahoo provide users with a method to monetize their web traffic, there is a perceived lack of transparency in what percentage of ad spend goes to publisher," said Steve Vaile, CEO and founder of H2O New Media.

"A local online advertising network that crosses different social media channels can provide a higher rate of return for publishers in the region offering them targeted regional advertising based on users profiles," he noted.

According to him, this advertising network will be offered to H2O New Media customers and publishers, giving them an opportunity to generate revenues from their online publications and social media websites.

H2O New Media (www.h2onewmedia.com) has been actively developing TigerFish Network which will be implemented across all social communities owned and operated by H2O New Media and those of its customers such as www.adnationme.com; G2 Publishing and Media website as well as www.adrenalinesportslive.com a social platform from United Business Media (UBM).

The move to this implementation will further enhance not just the quality of websites delivered by H2O New Media but offer their clients possibilities of generating return on investments, Vaile said.

"In 2009, the focus for TigerFish Network will be to expand our advertising sales team and recruit local publishers into the network. Our aim is to work with existing social media platforms in the UAE and into migrating them from Google on to TigerFish Network."

"We foresee significant workload in this transition however our relationships with media and PR agencies in this market is expected to boost the launch of this platform," he observed.

"We will compete directly with Google for a share of the UAE’s online advertising market as we are leaders of social media development and we provide a holistic and consultative service to clients and users," Vaile added.

Scheduled to open business by mid January, TigerFish Network is set to compete head on with Google for UAE-based online advertising spending.

The product is currently implemented on a number of social media platforms with a reach of over 300,000 unique users per month across a mix of platforms.-TradeArabia News Service