Retail and commerce media · Episode 45 · Season 3 · ·
Building a $1 Billion Advertising Business from First Principles
Paul Wright, Head of EMEA at Uber Advertising, on building a $1 billion advertising run rate faster than expected, how Uber's three distinct advertising propositions reach audiences at moments of genuine commercial intent, and what it looks like to build a media business inside one of the world's most-used mobility platforms. Recorded as Head of EMEA at Uber Advertising.
Paul Wright, Head of EMEA, Uber Advertising. In conversation with Justin Cooke.
Building a $1 Billion Advertising Business from First Principles
0:0040:00How Uber Advertising reached a $1 billion run rate by creating advertising that reaches people at moments of genuine commercial intent
Paul Wright joined Uber in December 2022 to set up the UK advertising business, which he then expanded across EMEA and APAC. Uber Advertising launched in 2022 to accelerate the company's move into advertising beyond the sponsored listings that already existed in Uber Eats. By the time this episode was recorded, the ads business had reached a $1 billion run rate, achieved faster than the company had planned.
In this conversation Wright explains why Uber's three distinct advertising propositions, sponsored listings in Eats, brand activation in Rides, and Journey TV in the US, each reach audiences at moments of genuine commercial intent, and what the principles of consumer benefit and contextual relevance mean in practice for a platform where the user experience is paramount.
Tell us about your role and Uber Advertising
“My role is to run the international teams in EMEA and APAC. Let me roll back on the story of Uber Advertising. We started in 2020 with a straightforward sponsored listings business built around the Eats platform. Then we launched Uber Advertising in 2022 to accelerate our move into advertising and launch into the Rides app. I joined in December 2022 to originally set up the UK.”
Wright sets out the founding context and the speed of commercial development.
Tell me about the three core propositions
“We have sponsored listings elements that sit within Uber Eats. We have advertising for CPGs in terms of how they engage with people getting their products in basket through convenience or restaurant partners. And then we have brand activation within the Uber Rides app. In the US we also have Journey TV: back of headrest screens in cars where the rider can see their map and there are advertising opportunities.”
Each proposition targets a distinct moment of commercial intent.
What is the principle around consumer benefit?
“It has always got to be ideally beneficial to the consumer as much as it is beneficial to our restaurant partners. We are building a business where the advertising serves the user's intent. That is the constraint that also turns out to be the commercial differentiator.”
Consumer benefit is not just a values statement. It is the operating principle that makes the advertising more effective.
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Become a Voice →Tell me about the $1 billion run rate
“We announced in July this year at our earnings call that the ads business had reached a billion dollar run rate, which is great. We set that out as a target to achieve by end of 24. We actually achieved it slightly quicker than we thought. It is a key part of Uber's business now at that level.”
The milestone illustrates that the demand from advertisers for access to Uber's audience moment exceeded the company's initial forecasts.
What does the expansion look like?
“We are operational in over 30 markets now in terms of where we have teams and operations. We launched Spain at the beginning of this year. We have expanded into other markets across EMEA and APAC. Constant growth capturing demand from advertisers in ways they have not perhaps thought about before.”
The international expansion continues to be the primary growth driver.
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Read the full transcript
Lightly edited for readability
Justin Cooke Tell us about your role and Uber Advertising.
Paul Wright I run the international teams in EMEA and APAC. We launched Uber Advertising in 2022. I joined in December 2022 to set up the UK and then expanded. Three propositions: sponsored listings in Uber Eats, brand activation in Uber Rides, and Journey TV in the US. We announced a $1 billion run rate at earnings, achieved faster than we planned. Operational in over 30 markets.
Justin Cooke What is the principle around consumer benefit?
Paul Wright It has always got to be ideally beneficial to the consumer as much as to our restaurant partners. We are building advertising that serves the user's intent at the moment they are making a decision. That constraint is also the commercial differentiator.
