U.S. telecom giant Verizon Communications Inc.VZ has strengthened its targeted advertising tool, - Verizon Select, - with rewards program - Verizon Up -. However, the rewards will be available only after customers provide their web-browsing history, app usage and location data. Per TheWall Street Journal , Verizon will use these data to "personalize the rewards and deliver targeted advertising as its customers browse the web."
The reward program will offer customers credits that can be used for a wide range of perks, ranging from phone upgrades to free Uber rides, concert tickets and access to movie premieres. Customers will receive a credit for every $300 spent on their monthly Verizon wireless bill. Each credit will generate one reward though there will be rewards which do not need credit.
Advertisement on the mobile video platform is gradually shifting from simple selling of banner ads on the mobile web to automated or programmatic ad selling. Verizon has plans of creating an innovative digital advertisement platform that can challenge tech giants Alphabet Inc. GOOGL , Facebook Inc. FB and Twitter Inc. TWTR . Verizon will share the data collected from Verizon Up program with its digital media division Oath, which it had created after merging the AOL and Internet-based assets of Yahoo.
Verizon wants to have access to a significant chunk of wireless consumer data that can be used for ad targeting. The company has been exploring the possibility of entering into data partnership with several telecom operators. The company is systematically diversifying its business model into the digital media platform, targeting the lucrative segments of digital advertising and content creation as well as distribution.
Verizon is fast emerging as a leading company that sells mobile ads across numerous websites and applications. Its advertising platform is designed to monetize applications for publishers and developers through the use of data-driven ad targeting. The company is likely to launch an online TV-streaming service by the end of this year.
In 2015, Verizon launched go90, a YouTube-like streaming-video service aimed at teenagers. However, the new online streaming video service will be separate from the previous two offerings as it will compete with established low-cost streaming video services.
Price Performance of Verizon
Verizon's shares have increased 1.98%, outperforming the industry's decline of 1.38% in the last three months. The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
4 Surprising Tech Stocks to Keep an Eye On
Tech stocks have been a major force behind the market's record highs, but picking the best ones to buy can be tough. There's a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without . More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now - before the next wave of innovations really take off.
See Stocks Now>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportFacebook, Inc. (FB): Free Stock Analysis ReportAlphabet Inc. (GOOGL): Free Stock Analysis ReportTwitter, Inc. (TWTR): Free Stock Analysis ReportVerizon Communications Inc. (VZ): Free Stock Analysis ReportTo read this article on Zacks.com click here.