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.
SOURCE Criteo
