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Companies Like Instacart and Home Depot Are in a War for Advertising Talent

Companies Like Instacart and Home Depot Are in a War for Advertising Talent
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Macy's Media Network brings in $35M since launch

Dive Brief:
Macy s in August launched a media network that looks to generate an additional source of income for the department store retailer by selling ads to brands, executives said on a call discussing fourth-quarter results with analysts, a transcript of which was provided by Seeking Alpha.
The Macy s Media network has already brought in more than $35 million. Speaking to analysts, chief executive Jeff Gennette billed the service as a new fashion and beauty publishing model. An in-house advertising team runs the platform, which offers formats like sponsored product, website display and physical media ads, a spokesperson told Ad Age. ....

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Macy's new media network is a growing income stream, execs say

Credit:
Luke Sharrett/Bloomberg
Last year, Macy’s quietly launched its own retail media network, working with advertisers to provide Macy’s shopper data. The program, called Macy’s Media Network, began in August and has already grown to generate more than $35 million annually as a new income stream for Macy’s, according to CEO Jeff Gennette.
“We are also continuing to build on our customer value ecosystem, which would be loyalty, monetization and personalization enabled by our Star Rewards Loyalty Program,” Gennette said on a conference call today to discuss Macy’s fourth-quarter earnings. “In August, we grew this ecosystem by launching the Macy’s Media Network to connect strategic brand partners to our customers, which created a new fashion and beauty publishing model.” ....

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Macy's Inc (M) Q4 2020 Earnings Call Transcript

Operator
Ladies and gentlemen, good morning, and welcome to Macy s Incorporated Fourth Quarter 2020 Earnings Conference Call. [Operator Instructions]
And I would now like to turn the call over to Mike McGuire, Head of Investor Relations for Macy s Incorporated. Please go ahead.
Mike McGuire
Head of Investor Relations
Thank you, operator. Good morning, everyone, and thanks for joining us on this conference call to discuss not only our fourth quarter and full year 2020 results, but also our update to our long-term strategy. With me on the call today are Jeff Gennette, our Chairman and CEO; and Adrian Mitchell, our CFO. Jeff and Adrian have prepared remarks that they will share, after which we ll host a question-and-answer session. ....

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