"Lyft Riders Look At Their App About 9 Times Per Ride. Now They'll See Ads When They Check It" - Insider
Portfolio Pulse from Happy Mohamed
Lyft has announced that its app will now feature targeted ads during the booking and ride process. The move is aimed at capitalizing on the company's user base, with the average rider checking their phone nearly nine times during a ride. Advertisers will be able to target riders based on location, payment type, and lifestyle. This comes after Uber, Lyft's main competitor, launched video ads on its apps in June. The introduction of a new revenue stream follows several rounds of layoffs at Lyft.
August 11, 2023 | 4:42 pm
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POSITIVE IMPACT
Lyft's decision to introduce targeted ads on its app could potentially increase its revenue stream. However, the impact on user experience and privacy concerns could also affect the company's reputation and user base.
The introduction of targeted ads could increase Lyft's revenue, especially given the high user engagement during rides. However, this could also lead to privacy concerns and negatively impact the user experience, potentially affecting the company's reputation and user base.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Uber, having already launched video ads on its apps in June, could face increased competition from Lyft in the advertising space. However, it could also benefit from Lyft's move normalizing in-app advertising in the ride-sharing industry.
Uber, having already introduced video ads, could face increased competition from Lyft in the advertising space. However, Lyft's move could also normalize in-app advertising in the ride-sharing industry, potentially benefiting Uber.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50