Vibenomics recently unveiled a newly formed Audio Out-of-Home Ad Marketplace headed by former Emmis Communications executive Paul Brenner, chief strategy officer. This week the cloud-based custom business music service will announce a unique partnership with SafeGraph.
SafeGraph, a company that provides location data for business listings in the U.S., will support Vibenomics ad spots sold to national advertisers for audio commercials heard across its clients’ in-house controlled radio stations.
This deal is all about audio -- the background music that shoppers hear in stores. At the Bella Terra outdoor shopping center in Huntington Beach, California, music is piped through speakers on the walkway.
Auren Hoffman, CEO of SafeGraph, and others believe the music can trigger impulse buys -- typically additional, unplanned purchases. In addition, Vibenomics and SafeGraph execs say the music influences how much time consumers spend in a store, what they buy, and how much they spend.
Adding music can boost purchases, according to Hoffman, CEO of SafeGraph. He estimates the OOH advertising market will grow from $8 billion to $11.5 billion in 2022.
Marketers are expected to spend nearly $4.5 billion on digital out-of-home advertising by 2019 in the United States -- up $1.2 billion since 2016, according to a report by the Interactive Advertising Bureau.
Vibenomics’ programmatic Audio Out-of-Home (AOOH) Advertising Marketplace will offers an audience-based approach to buying audio. It reaches a national audience of more than 150 million unique consumers and can target any combination of 4,000 individual locations. The company’s working to double that number.
SafeGraph’s data, when used with Vibenomics newly launched marketplace, aims to help businesses “control their background musical vibe” and assist marketers to improve audience targeting and measurement.
Brenner formerly served as president of Emmis-led NextRadio, which allowed cell phones using an app to tune into FM radio with enhancements not available through a traditional radio. Brenner joined Vibenomics in June.