📈 Business & Markets

Ads are coming to some Lyft rides

Tuesday, Aug 9, 2022

Image: Lyft

Your Lyft ride could be getting another passenger soon, whether you decide to carpool or not. According to a blog post published Monday, the ridesharing company has created a business unit called Lyft Media that’ll be introducing in-car tablets allowing riders to track their routes, tip and rate drivers, control the music – and, of course, view ads.

🚗📺 More deets… Lyft has been testing the service in Los Angeles in recent months, and expects to offer it across 25% of all rides in LA, Chicago, San Francisco, and D.C. by the end of this year.

Beyond the in-car tablets, the company also plans to offer location- and time-targeted digital ads on top of cars, as well as on digital display panels at bike-share stations in large cities like NYC and San Francisco.

  • A portion of the overall ad revenue tied to cars will go to its drivers, but the company declined to reveal how much.

📸 Zoom out: Lyft’s new media venture comes three years after Uber first started selling ads through its Eats app, and later began offering ads within its primary ride-hailing app and ​​atop drivers’ cars. Mark Grether, general manager of Uber advertising, said earlier this year that the company’s ad business could reach $1 billion in revenue by 2024.

Share this!

Recent Business & Markets stories

Business & Markets
  |  August 8, 2022

Strap on your job helmet

💼 But forget firing off into Jobland – we may already be there. According to Labor Department statistics published Friday, the US added 528,000 nonfarm jobs in July, more than twice the number economists had expected.

Peter Nowak & Kyle Nowak
Read More
Business & Markets
  |  August 5, 2022

The US government wants to overhaul airline refunds

✈️ The Department of Transportation proposed new rules on Wednesday that would “significantly strengthen” protections for consumers seeking refunds for airline tickets.

Kyle Nowak & Peter Nowak
Read More
Business & Markets
  |  August 2, 2022

It’s giving seltzer vibes

⚡️🥤 Pepsi announced a new $550 million investment in energy drink maker Celsius yesterday as part of a long-term distribution deal that gives Pepsi an 8.5% ownership stake.

Peter Nowak & Kyle Nowak
Read More

You've made it this far...

Let's make our relationship official, no 💍 or elaborate proposal required. Learn and stay entertained, for free.👇

All of our news is 100% free and you can unsubscribe anytime; the quiz takes ~10 seconds to complete