Apr 4, 2024 - Business

When your bank is a media company

Felix Salmon

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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When your bank is a media company

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