{"id":7564,"date":"2023-08-01T23:17:55","date_gmt":"2023-08-01T23:17:55","guid":{"rendered":"https:\/\/mysourcefunding.com\/marketing\/ubers-ad-network-continues-to-grow\/"},"modified":"2023-08-01T23:17:57","modified_gmt":"2023-08-01T23:17:57","slug":"ubers-ad-network-continues-to-grow","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=7564","title":{"rendered":"Uber\u2019s ad network continues to grow"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"style__InlineSubscribeWrapper-sc-8ccc5960-1 jArFiG\">\n<div class=\"style__Container-sc-6fdcc87e-0 style__RoundedContainer-sc-6c630ac0-0 iTWzCH wGFGp\">\n<h5 class=\"dist__StyledText-sc-5a46198a-12 cVdxJM inline-subscribe\">Get marketing news you&#8217;ll actually want to read<\/h5>\n<p class=\"dist__StyledText-sc-5a46198a-12 iEaGlZ inline-subscribe\">The email newsletter guaranteed to bring you the latest stories shaping the marketing and advertising world, like only the Brew can.<\/p>\n<\/div>\n<\/div>\n<p class=\"dist__StyledText-sc-5a46198a-12 ggMJgB\">There\u2019s money in them thar rideshares.<\/p>\n<p class=\"dist__StyledText-sc-5a46198a-12 ggMJgB\">Uber\u2019s ad network gained approximately 55,000 advertisers this quarter, bringing its total to around 400,000. The \u201cvast majority\u201d are small and medium-sized businesses, Uber CEO Dara Khosrowshahi said during an earnings call.<\/p>\n<p class=\"dist__StyledText-sc-5a46198a-12 ggMJgB\">Its ad platform currently has a \u201crevenue run rate,\u201d or expected annual revenue, of more than $650 million\u2014the company had projected more than $500 million in Q4 2022, but didn\u2019t share a figure in Q1.<\/p>\n<p class=\"dist__StyledText-sc-5a46198a-12 ggMJgB\">\u201cThis is very, very healthy spend that is significantly profitable,\u201d Khosrowshahi said. The company thinks it could be a billion dollar business by 2024.<\/p>\n<p class=\"dist__StyledText-sc-5a46198a-12 ggMJgB\">Uber\u2019s revenue grew 14% year over year to $9.2 billion, with gross bookings up 16%. It was also the first time the company turned an operating profit.<\/p>\n<p class=\"dist__StyledText-sc-5a46198a-12 ggMJgB\">The rideshare platform has high ambitions for its advertising business, which runs ads within a suite of ride-sharing and delivery apps, like Drizly and Uber Eats. It also offers out-of-home inventory in cities like New York and Phoenix, as well as ads on tablets installed in drivers\u2019 cars.<\/p>\n<p class=\"dist__StyledText-sc-5a46198a-12 ggMJgB\">The company is now investing in ad products that\u2019ll help enterprise and CPG advertisers target audiences, Khosrowshahi said. Earlier this year, Uber announced a partnership with Omnicom Media Group and with the ad-tech company Criteo.<\/p>\n<p class=\"dist__StyledText-sc-5a46198a-12 ggMJgB\">In prepared remarks, Khosrowshahi said \u201cdozens of leading CPG brands\u201d were using Uber\u2019s ad products, and that the rollout of full-length video ads across its platform is \u201cunlocking connected TV advertising budgets.\u201d Because what\u2019s more premium inventory than the back of an Uber?<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketingbrew.com\/stories\/2023\/08\/01\/uber-s-ad-network-continues-to-grow?utm_source=&#038;utm_medium=syndication&#038;utm_campaign=feed\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Get marketing news you&#8217;ll actually want to read The email newsletter guaranteed to bring you the latest stories shaping the marketing and advertising world, like only the Brew can. There\u2019s money in them thar rideshares. Uber\u2019s ad network gained approximately 55,000 advertisers this quarter, bringing its total to around 400,000. The \u201cvast majority\u201d are small [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7565,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[78],"tags":[],"class_list":{"0":"post-7564","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-marketing"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Uber\u2019s ad network continues to grow | Brandiary<\/title>\n<meta name=\"description\" content=\"Get marketing news you&#039;ll actually want to readThe email newsletter guaranteed to bring you the latest stories shaping the marketing and advertising\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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