Mobiquity Networks, a wholly owned subsidiary of Mobiquity Technologies, Inc. (OTCQB:MOBQ), which powers a leading national location‐based mobile advertising and app engagement network, has partnered with Pennsylvania Real Estate Investment Trust (NYSE:PEI) to be the provider of beacon-based advertising services throughout PREIT’s high-quality portfolio of shopping centers in attractive U.S. markets.
For Mobiquity Networks, the deal represents another significant footprint expansion, and further establishes the company’s position as the definitive leader in mall-based retail beacon networks. For PREIT, becoming part of the Mobiquity Networks’ ecosystem symbolizes its commitment to enhancing customer gratification and retailer success by connecting retailers, brands and shoppers at all of its properties through customized offers, tailored information and personalized, real-time experiences. This portfolio-wide program demonstrates PREIT’s commitment to delivering a highly-differentiated mall experience to its shoppers, and the latest in consumer engagement technology services to its retailers.
PREIT is one of the country’s leading owners and manager of retail shopping malls, and focuses on properties that are tailored to fit the dynamic communities they serve. Founded in 1960, the Company owns and operates over 28 million square feet of space in properties in 12 states in the eastern half of the United States, concentrated primarily in the Mid-Atlantic region and Greater Philadelphia.
Mobiquity Networks owns and operates the largest shopping mall‐based beacon advertising network in the U.S. This network already includes nearly 300 premier shopping malls. With this agreement, PREIT granted Mobiquity Networks rights to its desirable collection of mall properties, which will grow Mobiquity Networks footprint to more than 320 malls hosting over 7,500 unique retailers found in nearly 40,000 storefronts. Mobiquity Networks is scheduled to complete the installation during the first quarter of 2016.
According to Mobiquity Networks’ Chairman, Thomas M. Arnost, “Adding PREIT’s portfolio of malls to our rapidly growing network is yet another significant milestone for Mobiquity Networks. PREIT’s portfolio of properties delivers a highly desirable young and affluent demographic and adds significant scale to our already dominant national retail footprint.”
Mobiquity Networks now gives marketers the ability to potentially reach out to an estimated 262 million monthly real-time shoppers who spend on average more than $26 billion a month and over $310 billion annually.
Mobiquity Networks’ beacon technology utilizes valuable location-based data from common areas in-mall and provides advertisers with the totally unprecedented opportunity to deliver targeted advertising to mall shoppers at precisely the right place and time — just as they are deciding which retailers to visit and what brands to buy. Through Mobiquity Networks platform, advertisers have the potential to influence over 3 billion annual shopping visits.
“We’re pleased to be able to bring this world-class location-based technology to our properties. Mobiquity Networks offers un-matched national scale, adds to the shopper experience at our properties, and delivers proximity-based marketing services to our retail and brand partners,” said Joseph F. Coradino, CEO of PREIT. “This agreement is a significant step toward ensuring that our properties are leveraging technology to increase consumer engagement, driving traffic and sales to our properties.”
The advantage that Mobiquity Networks has over other beacon providers is that the company’s existing traction in the space already provides the ability to deliver national scale for beacon-based consumer engagement, which is essential for mall retail tenants and the brands in their stores to run large-scale mobile campaigns. Mobiquity Networks also has a rapidly growing pipeline of mobile app publishing partners and is known for its commitment to protecting the in-mall shopper experience.
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