U.S. telecom giant Verizon Communications Inc. (VZ - Free Report) has strengthened its targeted advertising tool, – Verizon Select, – with rewards program - Verizon Up -. However, the rewards will be available only after customers provide their web-browsing history, app usage and location data. Per The Wall Street Journal, Verizon will use these data to "personalize the rewards and deliver targeted advertising as its customers browse the web."
The reward program will offer customers credits that can be used for a wide range of perks, ranging from phone upgrades to free Uber rides, concert tickets and access to movie premieres. Customers will receive a credit for every $300 spent on their monthly Verizon wireless bill. Each credit will generate one reward though there will be rewards which do not need credit.
Advertisement on the mobile video platform is gradually shifting from simple selling of banner ads on the mobile web to automated or programmatic ad selling. Verizon has plans of creating an innovative digital advertisement platform that can challenge tech giants Alphabet Inc. (GOOGL - Free Report) , Facebook Inc. (FB - Free Report) and Twitter Inc. (TWTR - Free Report) . Verizon will share the data collected from Verizon Up program with its digital media division Oath, which it had created after merging the AOL and Internet-based assets of Yahoo.
Verizon wants to have access to a significant chunk of wireless consumer data that can be used for ad targeting. The company has been exploring the possibility of entering into data partnership with several telecom operators. The company is systematically diversifying its business model into the digital media platform, targeting the lucrative segments of digital advertising and content creation as well as distribution.
Verizon is fast emerging as a leading company that sells mobile ads across numerous websites and applications. Its advertising platform is designed to monetize applications for publishers and developers through the use of data-driven ad targeting. The company is likely to launch an online TV-streaming service by the end of this year.
In 2015, Verizon launched go90, a YouTube-like streaming-video service aimed at teenagers. However, the new online streaming video service will be separate from the previous two offerings as it will compete with established low-cost streaming video services.
Price Performance of Verizon
Verizon’s shares have increased 1.98%, outperforming the industry’s decline of 1.38% in the last three months. The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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