Introducing Lyft Media
Today, we’re excited to announce Lyft Media – Lyft’s very own media and advertising business. As more people resume their daily travel, we’ve built a suite of new products to allow advertisers to engage with this growing audience throughout their transportation journeys.
Our vision is to build the world’s largest transportation media network, delivering value to advertisers while also elevating the platform experience for riders and drivers. Over the past two years, we’ve been growing our media business and are excited to share more details about our products, new partnerships, and future plans.
Lyft Halos are smart digital rooftop screens that capture attention with engaging videos targeted to the vehicle’s exact location and time. Brands can reach mass audiences at the specific times and places most relevant to their business, and track the performance of their campaigns through our attribution partners. This provides a level of targeting and measurement unprecedented in out-of-home (OOH) advertising.
In 2019, we acquired rooftop advertising startup Halo Cars to start our media business. Since then, we’ve scaled to one of the largest rooftop advertising networks in the country. These rooftop screens are available in New York City, Los Angeles, and Washington D.C., with more cities coming soon.
Lyft’s in-car tablets are seamlessly integrated with the rideshare experience. Riders can track progress along their route, rate and tip drivers, and control the music of their ride through our partnership with iHeartRadio – all directly from the tablet. Brands can serve dynamic content to a highly engaged rideshare audience for the duration of the ride.
We’ve been piloting this product in Los Angeles over the past year, and have seen great results. For advertisers, CPAs (cost-per-acquisitions) were 60% lower on average than those of leading digital and social media platforms in 2022. For riders, 1 in 4 engaged with the tablet during their ride, and 98% rated the experience as positive or neutral. And for drivers, tips increased by an average of 28% per ride while using the tablet in Q4 2021.
We’re expanding in-car tablets in Los Angeles, Chicago, San Francisco, and Washington D.C. We plan to have tablets present in 25% of all rides on the Lyft platform in these markets, reaching millions of riders by the end of the year.
Lyft operates the largest bikeshare network in the country, including Citi Bike (New York City), Divvy (Chicago), Bay Wheels (San Francisco Bay area), and Nice Ride (Minneapolis) with over 3,000 stations, 45,000 bikes, and 36 million rides annually in those markets.
With stations located throughout our cities, our bikeshare station ad panels and docks provide incredible street-level media opportunities at highly-trafficked locations in each city. As we continue to roll out our next-gen e-bikes, we will also be upgrading our stations to include digital ad panels.
Lyft Skins allows advertisers to engage the rideshare audience with our most powerful digital channel – the Lyft App itself. Brands can reach our almost 20 million active riders with a customizable branded icon and banner.
We partnered with Cardi B for an immersive Lyft Skins campaign that went viral – generating over 2.6 million social media impressions, 50,000 code redemptions, and 2,000 tweets. The Lyft App is the starting point for all of our transportation modes, and we’re excited to continue bringing delightful media experiences to it.
Across our media portfolio, we’ve already worked with hundreds of advertisers including DoorDash, Starbucks, HBO Max, Marriott, and Google. We’re excited to partner with more brand and performance advertisers to help them effectively reach our unique transportation audience.