Groupon has some fresh competition in the Big Apple.
Daily-deals rival SweetJack, owned by radio giant Cumulus Media, plans on rolling out an ad blitz today in the New York metro area, The Post has learned.
The campaign is part of a broader play — in partnership with larger radio broadcaster Clear Channel — to grab up market share in the crowded field of online discounting dominated by Groupon and, to a lesser extent, Living Social.
Formed a year ago, SweetJack sells promotions to local merchants and advertises them over the air and online.
“[Groupon and Living Social] haven’t had a third competitor that has the alignment of a national media platform,” Lewis Dickey Jr. CEO of Atlanta-based Cumulus told The Post.
Dickey says SweetJack is a natural way for Cumulus to leverage its 570 stations, which have nurtured relationships with local vendors and merchants for years.
“We think of the radio business ultimately as a business that connects merchants with customers,” he said.
What’s more, its alliance with Clear Channel, owner of 850 stations, allows them to reach a combined 250 million radio listeners daily, giving SweetJack a promotional edge over rivals. Dickey said the split on the SweetJack partnership with Clear Channel can differ by market but is generally 50-50.
Along with the New York City metro area, SweetJack’s ad campaign will also kick off today in 36 other cities including Los Angeles; Seattle; Washington, DC; and Philadelphia.
SweetJack’s owners are aiming for $100 million in revenue over the next year, with an eye toward having 20 percent of that figure end up on the bottom line.
The emergence of competitors like SweetJack comes as Chicago-based Groupon, founded by CEO Andrew Mason, struggles to regain its footing.
The one-time daily-deals darling — hit by heightened competition and concerns about is profitability — has lost roughly three-quarters of its market value since going public in November at $20. Still, it remains the biggest daily-deals player.