PlayOn! Sports Announces Strategic Investment from KKR
KKR makes a strategic investment alongside BIP Ventures to accelerate the growth and expansion of PlayOn!, the leading High School sports media company.
The transaction expands in-store solutions and provides greater scope and scale for advertisers and increased revenue opportunities for brands.
Mood Media, the world's premiere on-premise experiential technology and media company, has acquired Vibenomics, the leading in-store digital advertising solution provider. The financial terms of the transaction were not disclosed.
Mood provides on-premise media software solutions to more than 500,000 business locations in more than 140 countries through a cloud-delivered content platform, including curated music, messaging, digital signage, content management, and scent marketing. Combining Mood Media's breadth and scale as the leading in-store experience provider with Vibenomics' differentiated technology position in on-premise media solutions enables deeper insights for advertisers, increased revenue opportunities for brands, and greater consumer engagement and analytics at the point of sale.
The announcement comes at a time when retail media networks are booming, with U.S. retail media spend increasing from $31B in 2021 to a projected ad spend of $61B in 2024. This spend represents 17.2% of total U.S. digital ad spending — indicating the important role of retail media in the next generation of on-premise advertising and consumer engagement.
Malcolm McRoberts, CEO of Mood Media, said "Mood Media is committed to delivering the next generation of in-store technology solutions. Vibenomics extends these efforts by strengthening our ability to deliver highly effective programmatic advertising that enhances consumer engagement, provides critical analytical insights, and helps our customers and partners supercharge their business results. Put simply, our goal is to be the leading, end-to-end cloud-enabled provider of fully-integrated on-premise media experiences and the combination with Vibenomics and their outstanding management team allows us to accelerate that journey."
With Mood Media's advanced on-premise digital solutions for display and audio, this new-to-market turnkey solution creates a simplified ad-buying experience for advertisers while enhancing the management of the customer experience and the associated return-on-investment for retail owners. It's a single point of integration for retail media platforms to access, deliver, measure, and evaluate on-premise digital impressions. Retailers will be equipped to maximize and measure the impact of on-premise digital messaging via multi-touch models and omnichannel strategies, as anticipated to be outlined in the 2023 IAB's retail media categories, definitions, and buyers guide.
"As champions of innovation, we believe that retail media networks represent the future of on-premise digital experiences for brands, retailers, and consumers, and they are an important component of any marketer's digital ad campaign," said Brent Oakley, CEO at Vibenomics. "Joining forces with Mood is an important step toward innovating retail media. It allows Vibenomics to massively expand our reach and that of our advertising partners and media networks, while delivering a greater level of sophistication to the retail marketplace."
Mood Media is the world's leading experiential media company that maximizes the Customer Experience and provides value for businesses and brands worldwide. Our fully integrated solutions leverage advanced digital technology, curated and original creative content, and design expertise to make every shopping and guest experience more personal and more engaging. Serving more than 500,000 customer locations in more than 140 countries, we reach over 150 million consumers each day. For more information, please visit https://www.us.moodmedia.com.
Vibenomics, a Mood Media Company, is the leading in-store digital advertising provider. Our platform provides a single, all-in-one retail media network, empowering retailers to digitize their on-premise experience and advertisers to connect with customers via display, audio, and experiential channels. Through a first-of-its-kind turnkey solution, this model delivers the ubiquity and revenue-generating capabilities needed to drive the next iteration of retail media. Acquired by Mood Media in 2023, Vibenomics works with hundreds of CPGs and more than 50 endemic and non-endemic categories today. The company plans to expand its retail locations to more than 500,000 worldwide. To learn more about Vibenomics, visit https://www.vibenomics.com.
This announcement was originally published via PR Newswire.