Wayne, a GE Energy business, today announced an investment of over $50 million in a television network that has a captive audience – Gas Station TV. The funding will be used to deploy inOvationTV, a new jointly developed media platform, at gas stations throughout the country.
This new platform delivers licensed content including sports from ESPN, business and personal finance news from Bloomberg TV, local weather from AccuWeather, and GSTV’s original social media television show, Your Neighborhood. It is available free of charge to qualified stations.
“Wayne has long been a leader in technology at the pump and has an extremely strong distribution network, making them the bestpartner to grow our television network to the next level,” said Gas Station TV CEO, David Leider. “The new stations installed from this relationship will quickly increase our already industry-leading viewership and market penetration to more than 70 million monthly at-the-pump consumers, placing us at the very top of Nielsen’s weekly television rankings.”
GSTV delivers content to 27 million monthly viewers in the several minutes it takes to fill their vehicle’s gas tanks. The demographics are interesting: 76 percent age 18-49; 85 percent have post-secondary education; and 40 percent plan to visit a retailer later that same day. GSTV’s Nielsen and retailer research studies report that GSTV programming and retailer promotions deliver increases in returning customers, customer conversion from the forecourt to the convenience store, and an increase in fuel and convenience store sales.