Acquisition Connects Lyft as OOH Provider / Operator
Acquires Digital Car Top Company Halo
Acquisition Connects Lyft as OOH Provider / Operator
Continuing the rideshare competition, Lyft has acquired Halo. Halo is a ‘car-top’ advertiser who places LED screens on top of rideshare vehicles to “deliver hyper targeted advertising”.
The digital screens business and its corollary industries are piling into the Out of Home sector. Can OOH provide the payoff? Does OOH have revenue limitations? If it only grows at the historical low 4% or even less than 10% model, it is limited to an extent that everyone jumping into the Outdoor media formats will not prosper. Will the OOH Industry revenues grow to a level to support the millions of dollars of investments which are entering the space?
There are a significant number of ‘start ups’ from software and data providers including programmatic technology platforms and place based digital networks, including the recent Uber and Lyft entries which are going to make the crowded field even more competitive. Will the OOH advertising dollars be there?
Read about the Lyft acquisition of Halo below.
Lyft Acquires Halo Cars, a Startup That Places Ads on Vehicles
Read about the Lyft acquisition and financial status of the ride share leaders as reported by Annie Gaus for TheStreet:⇒ Lyft Acquire Halo Cars
“Both Uber and Lyft are under pressure to deliver a profit over the next several quarters, and the advertising deals could represent a new stream of revenue for the companies.
Lyft is expected to report a loss of $147.7 million, on sales of $1.1 billion for the current quarter, based on a FactSet survey of 23 analysts. In the same period a year ago the company posted a loss of $248.9 million on sales of $776 million. The stock has fallen 15.7% since the company last reported earnings on Feb. 11.
Uber is expected to report a loss of $988.8 million, on sales of $4 billion for the current quarter, based on a FactSet survey of 27 analysts. In the same period a year ago the company posted a loss $887 million on sales of $3.1 billion. The stock has risen 10.3% since the company last reported earnings on Feb. 6.”
- Advertisement -
