Volta attracts larger digital media budgets with expanded measurement, programmatic buying, and data-driven targeting capabilities for advertisers
SAN FRANCISCO, CA (August 9, 2022) – Volta Inc. (NYSE: VLTA) (“Volta”), an industry-leading electric vehicle ("EV") charging and media company, announced today that the Volta Media™ Network has exceeded one billion monthly impressions in the United States.1 This milestone comes less than nine months after Volta formally launched its media network with 618 million monthly impressions. Volta’s ability to nearly double its reach represents the company’s commitment to expanding its dual EV charging and media network for the benefit of drivers, advertisers, commercial properties, shareholders, and ultimately the planet as it supports mainstream adoption of clean, carbon-free transportation.
Volta Media Network’s increased reach is the result of additional media-enabled EV charging stations installed at locations visited by millions of Americans daily, such as Cinemark Theatres, Giant Food, Kohl’s, Stop & Shop, and Tanger Outlets. Volta locates its EV charging stations steps from the front entrances of popular commercial properties to improve convenience for drivers and maximize the number of shoppers influenced by Volta’s digital media screens. As a result of these strategic placements, the Volta Media Network reaches highly valuable consumers moments before they purchase a product or service, allowing Volta campaigns to create awareness and drive measurable sales in support of advertisers’ increasing focus on retail media campaigns. Advertisers can also target specific segments of Volta’s audience, which over-indexes on high household incomes, propensity to purchase, and desire for premium goods and services compared to the general American population.2
Volta’s media network is the world’s largest digital out-of-home (DOOH) network integrated directly into EV charging stations that support the transition to electric mobility. Every campaign featured across Volta’s network of more than 4,600 large-format digital screens directly supports charging sessions providing electric miles to drivers. To date, Volta has provided more than 124 million electric miles and avoided over 30,000 tons of CO2 emissions that would have otherwise been created by gas-powered vehicles.3
“Volta’s ability to speak to our audience while they are in the shopping mindset with unique, high-impact messages is highly valuable to our business,” said Michelle Leo, VP Marketing at Citizen Watch Group. “Working with Volta also aligns with our brand's sustainability commitments as we're directly supporting the transition to carbon-free electric transportation.”
Volta further distinguishes itself by offering advertisers a suite of measurement capabilities enabled by collaborations with industry-leading measurement companies. These relationships allow Volta to report on the same full-funnel impact marketers have come to expect from the most notable digital advertising platforms. This includes performance metrics like sales lift and incremental return on ad spend (ROAS)—a new frontier for the DOOH industry. Volta’s ability to meaningfully drive bottom-of-the-funnel results was best demonstrated through two recent campaigns. Working with a leading shopper intelligence platform, Catalina, Volta revealed its ability to deliver an 8 percent sales lift for Dole’s products and increase category share for the brand by 8.5 percent. In a separate campaign for Coca-Cola, Volta, and digital media and promotions technology company Quotient, measured $2.51 million in attributable sales and a ROAS 56 percent higher than average.4
“Catalina continues to be an essential and trusted partner for a variety of our business needs, and we are impressed by what they and Volta deliver together. The concise and point-blank delivery of data to spotlight sales conversions and buyer response further simplified the out of home metrics and underscored the value Volta Media provides,” said Kellee Miller, Director of Shopper Marketing at Dole Food Company, Inc.
Volta’s measurement capabilities are fortified by additional attribution capabilities that include footfall, web, mobile, and sales through collaborations with industry-leading organizations like Accretive Media, Foursquare, Reveal Mobile, Quorum, PlaceIQ, and more. Volta’s impact on brand awareness and consideration metrics is measured by third-party research studies with esteemed firms like the F’inn Group.
Volta has also invested in supporting flexible buying options for advertisers—100 percent of Volta’s media inventory is available programmatically. Brands and their agencies can target Volta’s contextually relevant media screens through every major demand-side platform (DSP), making the process of integrating Volta inventory into any campaign easy and seamless. Volta offers both reserved and unreserved access in support of both open and private programmatic auctions, empowering media buyers with the flexibility to access Volta’s inventory in the way that best fits their needs.
“The Volta Media Network creates tremendous value for our advertising partners and commercial properties, both in terms of business and sustainability impact,” said Brandt Hastings, Chief Commercial Officer at Volta. “Our unique media model powers our business, and we continue to scale and push the boundaries of innovation for the benefit of our advertisers, real estate partners, drivers, and the environment.”
Volta Inc. (NYSE: VLTA) is an industry-leading electric vehicle ("EV") charging and media company. Volta's unique network of charging stations powers vehicles and drives business growth while accelerating a clean energy future. Volta delivers value to site partners, brands, and consumers by installing charging stations that feature large-format digital advertising screens located steps away from the entrances of popular commercial locations. Retailers can attract and influence foot traffic, advertisers can precisely target audiences, and EV drivers can charge their vehicles seamlessly as they go about their daily routines. Volta's extensive network leverages its proprietary PredictEV® platform, which uses sophisticated behavioral science and machine learning technology to help commercial property owners, cities, and electric utilities plan EV infrastructure intelligently, efficiently, and equitably. To learn more, visit www.voltacharging.com.
This press release contains certain forward-looking statements within the meaning of federal securities laws, including statements regarding our media network. These forward-looking statements generally are identified by words such as “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “may,” “opportunity,” “plan,” “potential,” “project,” “should,” “strategy,” “will,” “would,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2022, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the "SEC"), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at www.voltacharging.com. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
1 Geopath Insights, July 2022
2 Experian ConsumerView - 2022
3 Data collected to determine environmental benefits from Volta's charging stations is calculated in accordance with US EPA’s methodologyusing the published greenhouse gas equivalencies calculator, and the US Department of Energy's published miles per kWh rating per electric vehicle (EV) model. Environmental calculations are good faith estimates made using assumptions that are based on current industry and other government and societal data available to Volta, which may be updated from time to time.
4 Average ROAS is of all ADUSA food and beverage DOOH campaigns