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Uber and Lyft are at all times attempting to outdo one another, however the newest battle between the rideshare companies is roping in one of many greatest musical acts of the 21st Century. Name it Showdown on the Queen Bey Corral.
Beyoncé’s Cowboy Carter album dropped on March 29, with 27 new songs in what AP is looking “a Black reclamation of country music.” The album was 5 years within the making and is extensively seen because the artist’s response to a racist backlash that adopted her look on the 2016 CMA Awards. It shortly jumped to the highest of the charts.
The discharge units the stage for what might be an epic gross sales battle this yr between Beyoncé and Taylor Swift, whose extremely anticipated eleventh album, The Tortured Poet’s Division, will launch on April 19. So it’s not exhausting to see why corporations want to hitch a trip on Beyoncé’s cowboy coattails to win over the hive.
It began Thursday when Uber unveiled a 16% low cost for riders who used the code 16CARRIAGES, one of many album’s first tune releases. (Uber first teased the news on Wednesday with video of a white horse, which regarded loads just like the one on the album’s cowl operating in circles.)
Heading to a #COWBOYCARTER listening occasion tonight? We’re such big followers and wish to provide you with 16% off your Uber trip (as much as $16) when utilizing code 16CARRIAGES. Availability is proscribed so that you higher giddyup! Particulars beneath. 👑🐝🤠
Promotion is legitimate in U.S. solely from 9:00pm ET on… pic.twitter.com/iz0HeVHNNO
— Uber (@Uber) March 28, 2024
In most circumstances, that may be the tip of the story. However that is Beyoncé. And that is additionally Uber and Lyft. So issues have been simply getting began.
On the urging of an X (previously Twitter) consumer, Lyft determined to lift the stakes, providing 50% off rides (on March 29 solely) for riders who used the code SPAGHETTI24, name-dropping one other tune from Cowboy Carter (a rap track featuring Linda Martell and Shaboozey that’s nestled amid the extra conventional choices).
performed. use code SPAGHETTI24 for 50% off your trip on 3/29 🐝🍝
(legitimate till 11:59 P.M. on 3/29. good for half off one lyft trip as much as $20. availability is proscribed—in the event you miss this one, observe us for different code drops quickly!) https://t.co/oVy8DALERr
— Lyft (@lyft) March 28, 2024
Lyft didn’t cease there. On Friday morning, the corporate dropped one other code—for 60% off rides—together with a “message” from their CEO saying “omg this album slaps.”
say much less king
use code LYFTIING for 60% off your trip at present 🐝
(legitimate till 11:59 P.M. on 3/29. good for 60% off one lyft trip as much as $20. availability is proscribed—in the event you miss this one, observe us for different code drops quickly!) pic.twitter.com/mZzu5bwI2A
— Lyft (@lyft) March 29, 2024
The corporate even teased replacing the automobiles on its in-app menu with white horses, although that seemed to be extra catering to the followers. (Vehicles are nonetheless automobiles within the app.)
Uber, for its half, has not taken the Lyft social media bait and has continued to supply its unique low cost.
Lyft has been getting the perfect of Uber on the advertising and marketing entrance for some time now. A number of weeks in the past, the corporate partnered with social media influencer Carrington, whose movies of so-called sounds to use if you feel unsafe in an Uber have impressed a slew of parodies and homages, beating Uber to the punch.
Inside 24 hours, the corporate stated it saw over 200,000 organic views and a 17% engagement fee, triple what the corporate stated TikTok often sees.
Lyft may be consuming Uber’s lunch on the advertising and marketing entrance of late, however within the enviornment that issues, Uber continues to be king. The corporate’s shares are at the moment simply shy of $77 (versus $19.35 for Lyft). And within the fourth quarter, Uber beat analyst expectations with earnings of 66 cents per share (versus forecasts of 17 cents) and revenues of $9.94 billion versus $9.76 billion anticipated.
Lyft, in the meantime, briefly noticed a 63% surge in its inventory worth, however that vanished when the corporate sheepishly acknowledged it had made a typo in its earnings announcement. It posted income of $1.22 billion, however did handily beat earnings expectations, coming in at 18 cents per share, versus an anticipated 8 cents. Lyft added that it expects to be cash-flow constructive in 2024, for the primary time.
Uber at the moment holds about 70% of the U.S. rideshare market, according to market research firm YipitData. Lyft has stated it expects trip development to rise within the mid-teens-percentage vary this yr.
Clarification, March 29, 2024: A earlier model of this text misstated the outcomes of a latest Lyft influencer marketing campaign. In 24 hours, the put up noticed a 17% engagement fee, triple that of TikTok’s common, in accordance with Lyft.
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