As carriers launch commercial 5G networks, Yelp is positioning itself to take advantage by providing ad products that leverage mobile location data
Together, the new formats will enable brands to target their product offerings to hyperlocal audiences and more precisely measure the impact of related campaigns:
Showcase Ads: A new video-centric format that enables national brands to highlight in-season promotions, new menu items, and limited-time offers in their ad placements. Pilot testers for the new format reportedly included Denny's, IHOP, Starbuck, and T-Mobile. And while the platform is on track to surpass $1 billion in US ad revenue this year, per eMarketer estimates, its year-over-year ad revenue growth is decelerating: In 2017, Yelp grew ad revenue YoY, compared with 9% in 2019. By rolling out enhanced, results-driven ad products, Yelp could incentivize greater brand investment in the coming years and keep its ad revenue growth from tapering off any further.
Location data like Yelp's will become increasingly granular and reliable as 5G rolls out across the US, creating new opportunities for advertisers to target and segment their audience. As carriers like Verizon and AT&T commercial 5G networks across the country, Yelp is positioning itself to take advantage by providing ad products that leverage mobile location data.
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