Ad-tech company PubMatic said it launched Convert, a self-service advertising platform for commerce media.
Convert is built on PubMatic’s global cloud infrastructure and was created for commerce media networks and their advertising clients. It enables onsite and offsite monetization through listing ads and connected TV.
IPG MediaBrand, Coles 360, Lyft Media, MiQ and Wallapop worked with PubMatic to develop Convert.
“Commerce media will create another long-term growth driver for PubMatic’s business,” said Peter Barry, VP of Addressability and Commerce Media at PubMatic. “Data access, monetization, 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 customized technology with Convert, we are confident in our ability to continue to drive increased value for our customers.”
Convert works with traditional retailers and other transaction-based businesses to monetize and optimze capabilities using a full-stack solution to provide transparency in fee and pricing structures, along with automation and scalability, PubMatic said.
“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.”
PubMatic already works with a growing number of commerce media clients. In Q2 2023, PubMatic saw a 50% increase in the number of commerce customers year-over-year. Connect is expected to further grow PubMatic’s commerce media business by helping companies seeking new high margin revenue streams.
“The rise of retail media is well-documented and the potential for it to create impactful experiences for consumers and deliver business growth is immense,” said Paul Brooks, General Manager, Coles 360, part of Coles Group, one of Australia’s largest retailers. “We are seeing a lot of companies evolving their capability to move into the retail media sector, PubMatic is moving quickly and their product development and investments in retail and commerce media are testament to this fact.”
“Lyft is committed to providing value for our customers and stakeholders,” added 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.”
