Mood Media Acquires Vibenomics
Less than one year after announcing a $12.3 million Series B, the retail audio advertising firm Vibenomics has another major announcement — it’s been acquired. Vibenomics was purchased by Mood Media, an on-premise experiential technology and media company based out of Austin, Texas. The announcement was made Tuesday morning.
Although the financial terms of the deal were not disclosed, this has been a big year for Vibenomics. The company will now live under the Mood Media umbrella, creating what will eventually become a completely turnkey solution for brands designed to simplify the ad-buying experience.
“Over the last couple of years, there were occasions when [Vibenomics and Mood Media] were competing. As competitors, we still admired each other’s strengths,” said Mood Media CEO Malcolm McRoberts. “So as Mood looked for opportunities in the marketplace, our attitude was that if we wanted to enter the Retail Media Network space, we needed to do it properly.”
A partnership agreement between Vibenomics and Mood Media was signed nine months ago. During that time, McRoberts says the companies found that many customers believed they should “get married” rather than “just date,” and a plan for complete acquisition began to unfold.
“The market essentially told us that coming together was the right thing to do, and we listened,” McRoberts says. “It’s what our customers want and need. Ultimately, this partnership makes us both stronger together.”
Spending on retail media is way up in 2023, even as so many other parts of the digital media landscape have begun to struggle. According to eMarketer, U.S. retail media spend will increase from $31 billion in 2021 to a projected $61 billion by 2024. That spend represents more than 17% of total U.S. digital ad spending.
Mood Media provides on-premise media software solutions to business locations in more than 140 countries, including curated music, messaging, digital signage, content management, and even scent marketing. With Vibenomics’ technology position in on-premise media solutions, Mood executives believe their clients will have access to deeper insights and greater consumer engagement and analytics at the point of sale.
“This acquisition and how we set up our relationship allow Vibe to continue to be great at what it does,” McRoberts says. “The Vibenomics team can maintain some independence, yet they can now leverage more extensive opportunities due to the scope and scale of Mood’s global leadership presence. And, of course, Mood can extend Vibe’s platform to its customer base. It’s a win-win for customers, advertisers, and consumers.”