Vibenomics, an in-store digital advertising provider based in Fishers, has been acquired by Mood Media, an international commercial digital media company based out of Austin, Texas.
The new partnership was announced March 21.
Paul Brenner of Vibenomics said his company provides in-store media with advertising for clients.
“So, if you went to the grocery store and hear audio playing with ads, that’s our company,” he said.
Vibenomics has focused on audio, but with this acquisition by Mood Media, they will expand their services further into visual displays, which is what that much-larger company has specialized in.
“They bought us for the advertising piece,” Brenner said. “They’ve done audio and display, but they never did advertising before.”
Mood Media has about 300,000 locations where it provides services, and Vibenomics serves about 6,000, Brenner said. So, there will be more work for the local company, which he said will remain in Fishers.
According to the announcement, the retail media ad industry has been expanding in recent years and is expected to nearly double from $31 billion in 2021 to a forecasted $61 billion in 2024. Brenner agreed it’s growing fast, and Mood Media’s purchase of Vibenomics was a good strategy.
“That’s really why Mood bought us is we have the capability to go into that world and grow market share,” he said.
That likely will mean additional employment opportunities in Fishers, he said, but he can’t estimate what that will look like quite yet.
“Stay tuned, I guess,” Brenner said. “We’ve got to get more of these Mood networks on board and will have to have more people to help sell ads.”