🚖 Surge Profits

FEATURE

Uber is profitable for the first time in its 13-year history, thanks to their burgeoning ad empire

Uber now has 400,000 companies using its ad network to reach their 137m customers. Here’s what they offer:

• In-app ads: Consumers have the Uber app open for ~2 minutes. Uber gives one advertiser 100% share of voice for the journey.

• In-car tablet ads: An average ride is 20 minutes. Ads are currently only static images but Uber has big plans for video. With self-driving, Ubers sees the car turning into our “second living rooms”.

• Cartop ads: Uber are planning international expansion this year for digital screens on top of Ubers driving around major cities.

Uber is one of a growing number of consumer apps looking is cash in on the data they collect with targeted ads. All the more important with the upcoming “cookiepocalypse”. This emerging category of ‘retail media’ is predicted by The Drum to account for over 25% of digital ad spend by 2026.

Go deeper: Marketing Brew

HEADLINES

TikTok’s users in Europe will soon be able to switch off personalization in the app. This will mean the ‘For You’ content recommendations will no longer be based on that individual’s activity in the EU. (Social Media Today)

Meta has also offered a concession to European law makers, due to the incoming Digital Markets Act. According to The WSJ, Meta proposed asking all users in Europe to decide whether they would like to see ads targeted based on how they interact with their apps. (Wall Street Journal)

Spotify and media agency WPP announced a global partnership. WPP’s clients will get early access to Spotify’s audio advertising products and greater access to Spotify’s first-party data. (WPP)

TikTok is introducing a Podcast feature and asking Podcasters to upload episodes to the app. Users will be to watch podcast clips and click through to listen to the full episodes within TikTok. (Lindsey Gamble)

ICYMI

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We’ll be back with more on Wednesday!