Uber is going to begin using its autonomous vehicles as advertising spaces.
Key Details
- “Uber Technologies, Inc. has formally launched its advertising division and unveiled Uber Journey Ads, an engaging way for brands to connect with consumers throughout the entire ride process,” the company reports.
- Uber controls 100% of the advertising space in its vehicles that will play for riders during their trips.
- The company has more than 122 million monthly users and will be able to put ads in front of many eyes.
- “Brands and advertisers can now partner with Uber on a variety of advertising options on the Uber and Uber Eats apps, and beyond,” says Uber.
- “Leveraging Uber’s first-party data and insights across its mobility and delivery businesses presents the world’s biggest companies with compelling new surfaces and closed-loop attribution… early results show that consumers were exposed to the ad content for approximately two minutes, resulting in two to six times the brand-performance lift compared to other benchmarks,” it continues.
Why it’s News
Advertising is one of the largest businesses in the United States and Uber will be taking advantage of its unique accessibility to millions of people to put more advertisements in average people’s lives.
“Cars will become our next living rooms. We spend eight hours a week in a car; it’s a huge advertising opportunity,” says advertising director Mark Grether.
As we previously reported, retail chains have entered the advertising space as well and created a $40 billion market.
“Uber’s advertising division is projected to become a $1-billion-plus revenue opportunity by 2024 … after seeing ad revenues balloon from $11 million in 2020 to $141 million in 2021,” says Fortune.
Notable Quote
We have a global audience of valuable, purchase-minded consumers who, as part of our core business, tell us where they want to go and what they want to get,” said Dr. Grether, General Manager, for Uber’s advertising division. ‘While these consumers are making purchase decisions and waiting for their destination or delivery we can engage them with messages from brands that are relevant to their purchase journeys. And with 1.87 billion trips last quarter, that means we can connect advertisers to consumers on average five times per month across rides and delivery,’” says Uber.
