Dive Brief:

• Retail media provider Mood Media has acquired Vibenomics, an in-store audio advertising company, for an undisclosed amount, according to a Tuesday announcement.
• Both brands work with convenience store operators on their retail media networks, with Mood Media focusing on in-store display for brands such as Sheetz and 7-Eleven, while Vibenomics offers audio media for retailers like Kwik Trip and Thornton’s. Together, they’ll look to create a fully integrated on-premise retail media experience, Malcolm McRoberts, CEO of Mood Media, said in the announcement.
• Although still somewhat of an untapped resource within the broader c-store space, having an all-in-one platform can help c-stores get their retail media programs up and running quickly and take market share from competitors, Paul Brenner, president and chief strategy officer for Vibenomics, said in an interview.

Dive Insight:

Retail media networks promise to become a breaking wave in 2023 for c-store retailers that have the ability to spend large sums on digital innovation, experts say. These programs have grown in part due to Google’s decision to do away with third-party cookies, an audience measurement tool frequently used by advertisers. As a result, more than $61 billion in digital advertising is expected to redirect to retail media networks by 2024, according to Emarketer.

With the acquisition finalized, Mood Media and Vibenomics will work with each other’s customers to integrate both platforms into their stores, Brenner said. 

“We're going to try to take the scale we both have for music and messaging, [and] display in-store media, and enable it as fast as we possibly can to generate revenue,” he said.

This acquisition could “accelerate things” when it comes to c-stores tapping into retail media networks, as operators may notice the flexibility and benefits that come with using an all-in-one program, Brenner said. And this can apply to non-major players looking to get into the space as well.

“C-store [retail media] will probably start to show up as not just being in the Circle Ks and 7-Elevens of the world, but the Racetracs and Wawas and other folks that are willing to buy into it,” he said.