Walmart's In-House Ad Business Has a New Name and Big Ambitions

By Sheridan Fifer

Walmart has a plan to grow its in-house advertising business more than tenfold in just five years, thus becoming one of the top ten advertising platforms in the United States. The retailer is betting that Walmart Connect, formerly Walmart Media Group, can offer brands unique advertising opportunities because of Walmart's "unparalleled source" of shopper data. As part of the initiative, the retailer will sell ad space in more than 4,500 stores on over 170,000 TV and self-checkout kiosk screens.

Walmart has expanded its advertising business after years of sputtering progress, even as a deal to buy a 7.5% stake in video-sharing app TikTok remains in limbo.

Read the full story at Reuters.