Apr 4, 2024 - Business

When your bank is a media company

Illustration of a phone dispensing money.

Illustration: Annelise Capossela/Axios

Vizio, the TV maker, is a media company. So maybe it's not so odd that the bank on the corner is a media company, too.

Why it matters: JPMorgan Chase, a global financial services giant boasting assets of $3.9 trillion, Wednesday launched a subsidiary called Chase Media Solutions, which sells ads to brands on a performance basis.

How it works: Chase has detailed spending data on 80 million customers, to whom it can offer what the Wall Street Journal described as a "souped-up carousel of discounts" on its website and app.

  • Brands can target new, lapsed or loyal shoppers, and pay Chase only if and when those shoppers end up buying something.

The bottom line: Given that every company is going to end up having an editor in chief, maybe every company will end up being a media company.

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