Verizon Media makes its pitch to advertisers following sale to Apollo
Verizon Media highlighted its out-of-home and augmented reality activations, putting an exclamation point on what is likely to be the outfit’s last Newfronts presentation using the Verizon Media name.
Earlier this week, the ad tech and media unit of Verizon was sold to Apollo Global Management Inc. for $5 billion, a deal that includes media properties like Engagdet, TechCrunch and Yahoo Finance, and ad tech assets including RYOT.
“We’re taking the best of Verizon and also carrying the learnings, innovations and technology into a new company, which will be known as Yahoo,” said Verizon Media CEO Guru Gowrappan during an introduction that aired before the company’s NewFronts presentation. “This is an exciting moment that will accelerate the amazing innovation you will see today during our presentation.” Gowrappan, appropriately, appeared for the introduction dressed in a white bomber jacket that sported a purple Yahoo logo, which will be the new name of the company.
In something of a swan song for the unit, Verizon Media (the company retains its current name until the deal closes later this year) emphasized new OOH formats including Cooler Screens, which replaces the glass doors of store cooler aisles with digital displays. Consumers can now see advertisements when visiting local neighborhood bodegas or drugstores, and Verizon says the technology can coax consumers into a purchase. Verizon Media also touted augmented reality as a way to reach audiences out-of-home, with campaigns that can gamify advertising through Pokemon Go-style real-world hunts or superimpose a concert over a library building. Verizon Media says the offerings are timed to consumer sentiment as in-person activities resume following the pandemic.
Verizon also reiterated its familiar ad tech efforts with segments devoted to discussing its ConnectID one-to-one advertising identity solution and its contextual targeting solution, Next-Gen Solutions, which uses context to help target audiences.
The media group also promoted PlayAR, which lets audiences track football games using augmented reality. Yahoo Sports is reportedly a key area of interest for Apollo, which wants to expand its online betting and fantasy sports industries, the New York Times reports.
When the deal to sell Verizon Media to Apollo closes, Verizon will retain a 10% stake in the new entity, according to a press release. The new entity will still have access to Verizon data.