Expanded relationship intended to help address
fragmentation in the fast-growing retail media landscape
NEW
YORK, July 11, 2024 /PRNewswire/ -- Criteo
(Nasdaq: CRTO), the commerce media company today announced a
strategic collaboration with Microsoft Advertising to bring
Microsoft Advertising's extensive demand to Criteo's global network
of 225 retailers. Microsoft Advertising also intends to work with
Criteo as its preferred onsite media partner, extending Criteo's
monetization technology to Microsoft Advertising's retailer
clients, creating an even more unified retail media ecosystem.
Retail media is one of the fastest-growing sectors in
advertising and is expected to represent over $150 billion in global ad spend by 2026,
according to GroupM. But 93% of marketers worldwide cite
market fragmentation as a significant challenge. Criteo and
Microsoft Advertising intend to help move the industry forward by
tapping into Criteo's vast network of retailers and developing a
more unified buying experience for global advertisers.
This collaboration would expand the companies' longstanding
relationship and is expected to bring new revenue to Criteo's
retail media network partners. In turn, it would empower Microsoft
Advertising's 500,000+ active advertiser clients that operate
across 187 global markets to achieve stronger, measurable
performance for their campaigns within a singular, unified
platform.
"We're thrilled to expand our relationship with Microsoft
Advertising to make it easier for brands to buy retail media and
for retailers to expand demand into their media solutions," said
Brian Gleason, Chief Revenue Officer
at Criteo. "We look forward to continuing to evolve our
collaboration and help drive growth across retail media."
Criteo is also exploring the potential to tap into Microsoft
Advertising's leadership in generative AI and innovations, such as
its AI-powered Retail Media Creative Studio, which makes it easier
for advertisers to create and optimize their ad creatives at scale
with the power of generative AI.
"Together, Microsoft Advertising and Criteo can chart a new path
forward for retail media, empowering the entire ecosystem with
scale, simplicity, and innovation," said Lynne Kjolso, Vice President of Global
Partnerships and Retail Media at Microsoft Advertising. "We're
pleased to further our integration with Criteo, a leader in retail
media and performance advertising, and look forward to exploring
future opportunities."
The demand integration and preferred onsite collaboration are
expected to roll out in the second half of 2024.
For more information on Criteo's retail media solutions and its
retail media ecosystem, click here.
About Criteo
Criteo (NASDAQ: CRTO) is the global
commerce media company that enables marketers and media owners to
drive better commerce outcomes. Its industry leading Commerce Media
Platform connects thousands of marketers and media owners to
deliver richer consumer experiences from product discovery to
purchase. By powering trusted and impactful advertising, Criteo
supports an open internet that encourages discovery, innovation,
and choice. For more information, please visit www.criteo.com.
Contacts
Criteo Public Relations
Jessica Meyers,
j.meyers@criteo.com
Criteo Investor Relations
Melanie Dambre, m.dambre@criteo.com
Forward-Looking Statements Disclosure
This press release contains forward-looking statements,
including an anticipated agreement with Microsoft, and our
expectations regarding our market opportunity and future growth
prospects and other statements that are not historical facts and
involve risks and uncertainties that could cause actual results to
differ materially. Factors that might cause or contribute to such
differences include, but are not limited to: failure related to our
technology and our ability to innovate and respond to changes in
technology, uncertainty regarding our ability to access a
consistent supply of internet display advertising inventory and
expand access to such inventory, including without limitation
uncertainty regarding the timing and scope of proposed changes to
and enhancements of the Chrome browser announced by Google,
investments in new business opportunities and the timing of these
investments, whether the projected benefits of acquisitions
materialize as expected, uncertainty regarding international growth
and expansion (including related to changes in a specific country's
or region's political or economic conditions), the impact of
competition, uncertainty regarding legislative, regulatory or
self-regulatory developments regarding data privacy matters and the
impact of efforts by other participants in our industry to comply
therewith, the impact of consumer resistance to the collection and
sharing of data, our ability to access data through third parties,
failure to enhance our brand cost-effectively, recent growth rates
not being indicative of future growth, our ability to manage
growth, potential fluctuations in operating results, our ability to
grow our base of clients, and the financial impact of maximizing
Contribution ex-TAC, as well as risks related to future
opportunities and plans, including the uncertainty of expected
future financial performance and results and those risks detailed
from time-to-time under the caption "Risk Factors" and elsewhere in
the Company's SEC filings and reports, including the Company's
Annual Report on Form 10-K filed with the SEC on February 23, 2024, and in subsequent Quarterly
Reports on Form 10-Q as well as future filings and reports by the
Company. Importantly, at this time, macro-economic conditions
including inflation and rising interest rates in the U.S. have
impacted Criteo's business, financial condition, cash flow and
results of operations.
Except as required by law, the Company undertakes no duty or
obligation to update any forward-looking statements contained in
this release as a result of new information, future events, changes
in expectations or otherwise.
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SOURCE Criteo
