Ride-hailing company Lyft announced its foray into the media and advertisement business with the launch of Lyft Media as part of its vision to build the world's largest transportation media network. Lyft Media has built a suite of new products to allow advertisers to engage with Lyft's growing audience throughout their transportation journeys.
Lyft Media will deliver value to advertisers while also elevating the platform experience for riders and drivers. The media and advertisement business will be promulgated through Lyft Halo, Lyft Tablets, Lyft Bikes and Lyft Skins.
Lyft's media business was started in 2019 with the acquisition of rooftop advertising startup Halo Cars to now become one of the largest rooftop advertising networks in the country. The smart digital rooftop screens capture attention with engaging videos targeted to the vehicle's exact location and time. It can also target mass audiences at the specific times and places.
These rooftop digital screens are available in New York City, Los Angeles, and Washington D.C., with more cities coming soon.
Lyft's in-car tablets are seamlessly integrated with the rideshare experience, with riders able to track progress along their route, rate and tip drivers, and control the music of their ride. Brands can serve dynamic content to a highly engaged rideshare audience for the duration of the ride.
The tablets have been piloted in Los Angeles over the past year with great results. The in-car tablets are being expanded in Los Angeles, Chicago, San Francisco, and Washington D.C., with plans to have tablets present in 25 percent of all rides on the Lyft platform in these markets.
Lyft, which operates the largest bikeshare network in the country, will use the bike stations located throughout the cities for advertisements on bikeshare station ad panels. The digital ad panels will come as part of the upgradation of its stations to roll out the nect-gem e-bikes. The bike dock panels will also provide street-level media opportunities at highly-trafficked locations in each city.
Finally, Lyft Skins will allow advertisers to engage the rideshare audience with the Lyft App itself. The brands can reach almost 20 million active riders of Lyft with a customizable branded icon and banner on screen in the Lyft App.
Lyft has already worked with hundreds of advertisers including DoorDash, Starbucks, HBO Max, Marriott, and Google. Lyft Media will now be able to partner with more brand and performance advertisers to help them effectively reach Lyft's unique transportation audience.
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