PubMatic, an independent technology company delivering digital advertising’s supply chain of the future, today (July 25th, 2023) announced Convert, a unified self-service advertising platform for commerce media.
Built on PubMatic's global cloud infrastructure, Convert is tailored for commerce media networks and their advertisers, enabling onsite and offsite monetisation, including sponsored listing ads and CTV. Convert helps commerce media networks leverage their valuable first-party data for audience extension at scale across the open internet.
Leading industry brands, retailers, and advertisers such as IPG Mediabrands, dentsu, Lyft Media, MiQ, and Wallapop have joined PubMatic as partners in the development and announcement of its commerce media platform.
The new offering is built for both traditional retailers as well as a wide variety of transaction-based businesses such as transportation or food delivery providers, travel companies, or any scaled internet company that processes transactions.
According to GroupM, the global commerce media market is projected to surpass USD$140bn (£109bn) by 2025. The emerging commerce media digital supply chain is rife with fragmentation, causing commerce media networks and their advertisers to rely on multiple technology layers that drive inefficiencies.
Convert empowers commerce media networks with a single, self-service platform, streamlining the complex and fragmented commerce media marketplace. It brings together essential monetisation and optimisation capabilities across sponsored listings, CTV, video, and display ad formats. An unbiased, privacy-centric full-stack solution, Convert ensures transparency in fee and pricing structures, automation, and scalability for commerce media networks and advertisers.
The new platform complements PubMatic’s existing commerce media capabilities offered via Connect, the omnichannel addressability solution launched in 2022 that enables data access and control on the sell-side, closer to the consumer. The number of commerce companies leveraging Connect for audience extension continues to increase as they seek new, high-margin revenue streams to supplement their traditional business lines. In Q2 2023, PubMatic saw a 50% increase in the number of commerce customers year-over-year.
“We are looking forward to working with PubMatic on solutions that align with our goal of unifying retail media,” said Glen Conybeare, executive lead, retail media, IPG Mediabrands. “There is a great opportunity for us to help our brands navigate this space and retail partners are a key part of our platform ecosystem, especially those that can work on a global scale.”
“denstu is committed to driving innovation and integration for commerce media advertisers across the open internet,” said Bruce Williams, EVP, head of performance marketing at dentsu Media US. “By partnering with PubMatic, dentsu can leverage valuable commerce and retail data to enable advanced targeting and reporting and drive performance across the entire media supply chain. With the help of PubMatic, we’re advancing our end-to-end outcome-centered approach for media activation and delivering more holistic strategies across brand and commerce media for our clients.”
“Lyft is committed to providing value for our customers and stakeholders,” said Kenan Saleh, GM, head of Lyft media. “This new solution from PubMatic gives us access to the programmatic expertise, scale, and reach to help us innovate and grow our relationships with advertisers and the revenue opportunities we create.”
“As commerce media becomes increasingly important to brands, access points are also becoming increasingly fragmented,” said Erin Madorsky, US chief strategy officer, MiQ. “At MiQ, it is important for us to continue to pursue partnerships with technology leaders like PubMatic to help our customers connect with valued shoppers across retailers and drive successful business outcomes in the commerce media space.”
“Commerce media will create another long-term growth driver for PubMatic’s business,” said Peter Barry, VP of addressability & commerce media at PubMatic. “Data access, monetisation, and control are critical for commerce media networks and their advertisers, and PubMatic has a strong history of leadership and innovation in these areas. By making substantial investments in developing customised technology with Convert, we are confident in our ability to continue to drive increased value for our customers.”
To learn more about Convert visit pubmatic.com/convert.