Adrian J Cotterill, Editor-in-Chief
Mood Media has acquired Vibenomics.
Malcolm McRoberts, CEO of Mood Media, told us “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 super charge 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.”
Mood Media 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.
The press release said that combining Mood Media’s breadth and scale as the leading in-store experience provider with Vibenomics’ differentiated technology position in on-premise media solutions would enable deeper insights for advertisers, increased revenue opportunities for brands, and greater consumer engagement and analytics at the point of sale.
The announcement of course comes at a time when retail media networks are all the rage, 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.
Brent Oakley, CEO at Vibenomics was quoted as saying “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. 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.”
We understand that Vibenomics wil become ‘Vibenomics, a Mood Media Company’.
Financial terms of the transaction were not disclosed.