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In 2024, ad tech M&A activity surged, as seen by over 100 ad tech, marketing tech, and digital content deals in Q3 alone. High-profile moves like Liveramp’s acquisition of Habu and Equativ’s merger with Sharethrough underscore a key shift: independent SSPs and data providers are being absorbed into larger ecosystems.
As the industry heads into Q2, 2025, advertisers face a double-edged sword: while consolidation may bring operational simplicity and scale, it also raises pressing concerns—opaque auctions, vendor lock-in, rising tech fees, and diminished transparency.
Most brand advertisers aren’t waiting to see how this plays out. They’re actively adapting, asking tougher questions, and rethinking their tech stack strategy. Here’s what’s driving the trend—and how to respond with strategy, not panic.
Why Ad Tech Consolidation Is Accelerating in 2025
The deal-making era in the ad tech industry is driven by a perfect storm of regulation, economics, and platform dynamics:
Economic Pressures and Market Dynamics
The digital advertising sector is experiencing a resurgence in growth rates, surpassing pre-pandemic levels. This robust growth has escalated M&A activity, with companies seeking to expand capabilities and gain market share—fast.
Privacy Pressure
With GDPR, CCPA, and cookie deprecation, compliance costs have soared—making survival harder for smaller vendors and fueling mergers across the ecosystem.
Efficiency & Scale Demands
Advertisers are demanding more efficient, unified tools. That means bundled solutions and full-stack offerings are gaining traction.
Technological Advancements and AI Integration
AI is no longer a differentiator—it’s the foundation of every serious ad tech stack. Companies are consolidating to pool technical talent, unify infrastructure, and compete with bundled, full-stack offerings.
The integration of artificial intelligence (AI) into ad tech platforms is driving companies to consolidate resources and expertise. AI-powered tools enable more efficient targeting, optimization, and measurement, prompting firms to merge capabilities to stay competitive.
The Growth of CTV
As more viewers shift from linear TV to streaming platforms, advertisers are allocating increasing portions of their budgets to Connected TV (CTV)—demanding premium, brand-safe inventory at scale. To meet this demand, companies are consolidating capabilities across the stack, acquiring video-serving technologies, measurement solutions, and identity platforms to deliver full-funnel CTV solutions under one roof.
In 2024, Walmart acquired TV manufacturer Vizio for approximately $2.3 billion, reflecting a strategic move to bolster its CTV and retail media ecosystem. Additionally, Experian’s acquisition of Audigent highlights the industry’s push towards integrated solutions in CTV. These consolidations indicate a strategic alignment toward offering comprehensive, integrated advertising solutions.
As this sector matures, the trend of CTV consolidation is expected to persist, potentially leading to a more streamlined and efficient marketplace for advertisers seeking comprehensive CTV advertising solutions.
Implications for Brand Advertisers in a Consolidated Market
The consolidation trend doesn’t just reduce vendor choice—it can totally reshape the rules of engagement for media buyers:
Vendor Lock-In
With mergers come bundled services and black-box pricing. As companies merge, advertisers risk becoming too dependent on closed ecosystems, where transparency, pricing leverage, and control are harder to maintain.
Fewer platforms mean fewer options—and less negotiating power.
Transparency Gaps
M&As often result in bundled solutions with complex models. This may make it difficult for advertisers to understand auction dynamics, fee structures, and how their ads are prioritized. Without clear insights, advertisers may find it harder to track where their dollars go—or how their ads are prioritized in the auction.
Data Disruption and Privacy Concerns
Merging massive datasets can be messy—and risky. It raises concerns about data privacy and compliance with regulations, and brand advertisers may find themselves having to be hypervigilant about how data is used and ensure adherence to evolving privacy laws.
You need to ensure your partners maintain clean, compliant data practices. A weak link in your supply chain can become a liability overnight.
Strategies for Advertisers to Navigate the Consolidated Landscape
To maintain control and optimize performance amid consolidation, advertisers should consider the following strategies:
Diversify Partnerships
Avoid over-reliance on a single supply path. Work with multiple SSPs and DSPs, including independent platforms that prioritize transparency, agility, and buyer control. This approach mitigates risks associated with vendor lock-in and promotes competitive pricing.
Leverage First-Party Data and Contextual Targeting
In light of evolving privacy laws, contextual and first-party advertising strategies have become more than a fallback—they’re foundational. Technology partners who can help you enhance targeting accuracy while respecting user privacy will be the ones worth keeping.
Use AI for Efficiency, Not Just Automation
AI isn’t just about speed. It’s about smarter decisioning. Utilize AI-powered ad tech tools for real-time optimization, supply path management, and predictive analytics. These technologies can improve campaign performance and operational efficiency.
Demand Transparency and Accountability
Partner with platforms that can answer all your hard questions: Where are fees being applied? How are auctions structured? Is the algorithm truly working in your best interest?
Transparency fosters trust and enables more informed decision-making.
Conclusion: Navigating the Consolidated Ad Tech Landscape
Ad tech consolidation is a trend that is not going away anytime soon—but so is your ability to choose smarter partners. Adopting diversified strategies, leveraging advanced technologies, and prioritizing transparency, is your most effective tactic to protect performance and stay agile in a changing landscape.
The platforms that empower buyers (not just scale their spend) will be the ones advertisers trust most in the years ahead.