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Lyft's app will now feature ads when a user is booking a ride and during the trip. Its main competitor, Uber, launched video ads on several of its apps back in June. "Lifestyle" is based on locations users "like to visit such as sports games, restaurants, gyms, etc," a spokesperson for Lyft told Insider in an email. All riders will see ads on the app, but they have the option to reject sharing "their behavioral and demographic data," the Lyft spokesperson said. Greenberger told the Journal that Lyft also intends on incorporating video ads on its app before year's end.
Persons: Uber, Lyft, Zach Greenberger, Greenberger, they're, Mark Grether Organizations: Lyft Media, Wall Street Journal
Targeted, full-length video ads are coming to Uber for the first time, The Wall Street Journal reported. Users will encounter them on Uber and Uber Eats' mobile apps, in cars, and on Drizly. Video ads will also be incorporated across Uber Eats and Drizly, an alcohol delivery service acquired by Uber for over $1 billion in 2021, the WSJ reported. On Uber Eats, ads will display while customers wait for their deliveries, and on Drizly, ads will play on search results pages. "We know where you are, we know where you are going to, we know what you have eaten."
Persons: Uber, Pesky, Mark Grether Organizations: Street Journal, Morning, Uber, Uber Technologies, WSJ, Walmart Locations: New York City, New York, Los Angeles
The company is justifying its steep ad prices by pitching advertisers its first-party data that shows where people are and where they're going. Advertisers laid out why Uber's ads are so valuable, and how the company has been able to pull in their budgets. Uber's data-driven ad offering however isn't as compelling as what's offered by retail media competitors, like Walmart and Target. Uber has a new strategy to go after video ad budgetsUber also wants to corner a piece of the lucrative video advertising market. The tablet ad format is squarely aimed at video ad budgets.
Oct 19 (Reuters) - Uber Technologies Inc (UBER.N) has launched a new advertising division as the ride-hailing firm looks to diversify its revenue sources through tie-ups with brands and marketers. With a reach of 122 million monthly active users globally, the company said on Wednesday it will sell ad space inside its ride-hailing and UberEats apps, along with in-vehicle digital ads, sponsored mails and storefront ads. "While consumers are making purchase decisions and waiting for their destination or delivery, we can engage them with messages from brands relevant to their purchase journeys," said Mark Grether, general manager for Uber's advertising division. Uber, which entered the ad business in 2019, has said it aims to reach $1 billion in advertising revenue by 2024. read moreMeanwhile, a U.S. proposal last week that would potentially deter gig workers from being treated as independent contractors is also set to push up costs for companies such as Uber and Lyft. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Savyata Mishra in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
Uber to Let Marketers Target Riders by Destination
  + stars: | 2022-10-19 | by ( Patrick Coffee | ) www.wsj.com   time to read: +5 min
Ride-hailing company Uber Technologies Inc. wants to help marketers target consumers with ads based on where they have been and where they are going. The ride-hailing ad business could grow far larger, Mr. Grether said, especially when self-driving cars become more common. “Cars will become our next living rooms,” Mr. Grether said. The rider can also conduct transactions, such as clicking the ad to buy a product without leaving the Uber app, said Mr. Grether. Users can opt out of targeted ads on the Uber app at any time, said Mr. Grether.
Uber Ads General Manager Mark Grether said ads should maker users' journeys cheaper. Uber now offers an array of ad formats throughout the Uber and Uber Eats apps, and also on emails, cartops, and in-car tablets. The retail ads on Uber Eats can be bought via a self-service platform; Uber app ads are currently sold directly to advertisers by its sales team, though Uber eventually plans to make those ads purchasable through automation. Uber Ads General Manager Mark Grether said the addition of ads would ultimately make rides cheaper for consumers, though he declined to say by how much. He said marketers have been impressed by Uber Ads average click-through rate, which he said is 3% — above the industry average of around 0.35% for display ads .
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