Uber Rival Also Caves In To In-App Advertising For Revenue Boost
Portfolio Pulse from Anan Ashraf
Lyft Inc (NASDAQ:LYFT) announced it will start displaying advertisements on its app to boost revenue, following a near 5% slump in revenue per rider in Q2. The ads will be added to Lyft's network of advertising products, allowing brands to engage with hundreds of millions of Lyft rides annually. The company's current advertising partners include Bilt Rewards, Audible, and Universal Pictures. Lyft's rival, Uber Technologies (NYSE:UBER), already advertises in-app.
August 11, 2023 | 9:31 am
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NEGATIVE IMPACT
Uber, which already advertises in-app, could potentially face increased competition from Lyft in the advertising space.
With Lyft entering the in-app advertising space, Uber could face increased competition for advertising dollars. However, the impact will depend on how successful Lyft's new advertising strategy is.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Lyft's decision to display ads on its app could potentially boost its revenue, which saw a near 5% slump in Q2. This move could make the platform more attractive to advertisers.
Lyft's decision to display ads on its app is a direct response to the recent slump in revenue. This move could potentially attract more advertisers, leading to an increase in revenue. However, the impact on the user experience and potential backlash from users is yet to be seen.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100