ATLANTA and MONTREAL, July 25, 2023 (GLOBE NEWSWIRE) -- Mood Media’s Vibenomics advertising division, a leading experiential technology and retail media solutions provider, and Stingray Advertising, a prominent provider of innovative retail audio advertising solutions, today announced an agreement to combine their respective networks creating the largest U.S. retail media in-store network. This groundbreaking collaboration will provide advertisers with an unmatched national presence, reaching over 800 million monthly shoppers through in-store digital audio advertising across 25,000+ brick-and-mortar locations nationwide. The expansive network encompasses major players in key retail verticals such as grocery, drug, convenience and home improvement. Expansion to other verticals will continue in 2024.
The highly-complementary sales agreement will streamline programmatic advertising across all networks, taking advantage of Vibenomics' advanced capabilities. By maintaining existing relationships with established accounts, clients will have a seamless and efficient way to purchase digital audio advertising inventory across the combined network. This unified approach, top-tier turn-key production services and comprehensive reporting ensures a national scale for all advertisers. Whether in the CPG, pharmaceutical, healthcare, consumer tech, entertainment sectors, or non-endemic brands, and beyond, this inclusive solution caters to a wide range of industries.
This announcement comes during a period of significant growth for retail media networks, as U.S. retail media spending is on the rise, increasing from $31B in 2021 to an anticipated $61B by 2024. In-store audio advertising is rapidly gaining momentum among brands due to its ability to influence shoppers at the point of purchase and consistently deliver significant sales lift. Mood Media and Stingray Advertising are committed to supporting and driving growth through comprehensive and user-friendly in-store digital solutions, which have the potential to streamline retailer management and enhance buy-side activity.
“Current in-store advertising is fragmented and inconsistent,” said Malcolm McRoberts, Mood Media CEO. “Our new sales relationship with Stingray Advertising marks a transformative shift in the retail media landscape by creating a new standard for buying retail media that enables greater scale and deeper connections with shoppers. As retailers continue to invest in digital technology to elevate the in-store environment, the customer experience will be unmatched.”
“Joining forces with Mood Media enables us both to create the largest retail media network in the United States,” said Eric Boyko, President, Co-Founder and CEO of Stingray. “Our combined national scale presents a unique advantage to the market with more consistency across networks, improved transparency and more predictable CPM and fill rates for retailers. Our alliance sets a new standard for retail advertising nationwide.”
The collaboration will also benefit from Mood Media’s extensive solution suite and global reach, encompassing over 500,000 locations worldwide, and Stingray’s in-store brand experiences for more than 140,000 locations across the globe to unlock unparalleled opportunities for advertisers. It offers a remarkable platform for brands to connect with their target audience on a large scale across multiple media channels, maximizing their reach and impact.
To discover the power of combined retail media and explore the new Vibenomics and Stingray Advertising capabilities, visit the FAQ at www.vibenomics.com/partnership-faqs/ or https://corporate.stingray.com/partnership-faqs/.
About Mood Media
Mood Media is the world’s leading experiential media company, optimizing on-premise retail customer experience and driving significant value for businesses and brands worldwide. With the most comprehensive suite of fully integrated solutions, Mood leverages advanced digital technology, curated and original creative content, and design expertise to make every shopping and guest experience more personal and engaging. Serving more than 500,000 customer locations in over 140 countries, Mood reaches 150 million+ consumers each day. For more information, please visit www.us.moodmedia.com.
About Vibenomics
Vibenomics, a Mood Media Company, is the leading in-store digital advertising provider. Our platform provides a single, all-in-one retail media network, empowering retailers to digitize their on-premise experience and advertisers to connect with customers via display, audio and experiential channels. Through a first-of-its-kind turnkey solution, this model delivers the ubiquity and revenue-generating capabilities needed to drive the next iteration of retail media. Acquired by Mood Media in 2023, Vibenomics works with hundreds of CPGs and more than 50 endemic and non-endemic categories today. The company plans to expand its retail locations to more than 500,000 worldwide. To learn more about Vibenomics, visit www.vibenomics.com.
About Stingray
Stingray (TSX: RAY.A; RAY.B), a global music, media, and technology company, is an industry leader in TV broadcasting, streaming, radio, business services, and advertising. Stingray provides an array of music, digital, and advertising services to enterprise brands worldwide, including audio and video channels, over 100 radio stations, subscription video-on-demand content, FAST channels, karaoke products and music apps, and in-car and on-board infotainment content. Stingray Business, a division of Stingray, provides commercial solutions in music, in-store advertising solutions, digital signage, and AI-driven consumer insights and feedback. Stingray Advertising is North America's largest retail audio advertising network, delivering digital audio messaging to more than 20,000 major retail locations. Stingray has close to 1000 employees worldwide and reaches 540 million consumers in 160 countries. For more information, visit www.stingray.com.
For more information, please contact:
Frédérique Gagnier
Public Relations Manager
Stingray
fgagnier@stingray.com
Abby Lewis
BLASTmedia for Mood Media
317.806.1900 x 136
Abby@blastmedia.com
