How data collaboration is forging scalable new revenue streams for hybrid business models
By LiveRamp
Max Carranza, vp, technology and data partners, LiveRamp
Partnerships have long been a growth engine for brands. For decades, companies have used co-branding to grow their customer base, foster loyalty and reduce marketing costs. Yet now, retailers are becoming publishers, brands are evolving into data providers and companies like Disney are seemingly everything all at once. This shift marks the most significant transformation in partner-driven insights since Google and Facebook first demonstrated the revenue-generating power of data.
Instacart, for example, built a highly profitable ads business to boost revenue. Ticketmaster and Live Nation merged to combine ticketing, concerts, sponsorships and advertising into a data-rich powerhouse. Fandango leveraged its exclusive moviegoer data to provide insights that major studios can’t access alone. Each company has developed a hybrid business model that leverages the collaboration of first-party data to create unique value for partners and drive market stickiness for itself.
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Source:: Digiday
