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Lyft creates a media arm to make money from ads

Lyft creates a media arm to make money from ads

Lyft is launching a media division to tap into the fortune that the advertising industry holds. The new company will be serving ads on its multiple platforms like tablets, mobile app, car rooftops, and bicycles, TechCrunch says.

Named Lyft Media, it is supposed to build on the reach that the ride-hailing company has to millions of people moving about every day.

“As more people resume their daily travel, we’ve built a suite of new products to allow advertisers to engage with this growing audience throughout their transportation journeys,” Lyft said in its blog post.

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It added that its vision is to build the world’s largest transportation media network, while delivering value to advertisers and growing the platform experience for both riders and drivers.

“Over the past two years, we’ve been growing our media business and are excited to share more details about our products, new partnerships, and future plans,” the company further said.

Lyft Media will serve engaging video ads on car rooftop screens, called Halos, which target a vehicle’s exact location and time. Its in-car tablets, initially built for tracking journey progress, control music and more, will also show ads going forward. In addition to these, the company’s several bike stations will show ads too as well as in its app via customisable branded icons and banners.

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Onwuasoanya Obinna

A reader of books and stringer of words. Passionate about Science and Tech. When not writing or reading he is surfing the web and Tweeting.