Simon Property Group, a real estate firm that owns more than 200 shopping destinations, is standing up an advertising business.
Simon’s ad business, Simon Media Network, claims to reach 1.2 billion U.S. visitors to its properties annually. Its properties include Houston’s The Galleria, King of Prussia in Prussia, Pa., and New York’s Roosevelt Field. Simon reports that $100 billion is spent at its properties every year.
Unlike retail media networks that provide advertisers with data and reach from a single retailer, Simon views its ad business as a commerce media network with insight into all of the places where people shop and how they spend.
