蘑菇AV

Amazon and Walmart combined will gobble up more than 84% of all retail media ad spending in 2025, representing a pervasive and unyielding dominance within the channel. The share of ad spending allocated to all other RMNs increased by less than 1 percentage point between 2019 and 2024.

Amazon and Walmart combined will gobble up more than 84% of all retail media ad spending in 2025, representing a pervasive and unyielding dominance within the channel. The share of ad spending allocated to all other RMNs increased by less than 1 percentage point between 2019 and 2024.

This is the Q1 2025 installment of our quarterly 鈥淎d Spending Benchmarks鈥� series, which helps ad buyers and sellers calibrate their spending and revenue mix against the market.

Affiliate marketing is now a $10 billion industry, and marketers recognize its effectiveness. Yet many aren鈥檛 prioritizing affiliate marketing spend, due to difficulty with attribution or classifying it as social media spend. Here are five charts demonstrating the state of affiliate marketing.

Mercado Libre is beating Amazon at its own game in Latin America: The former is expected to represent more than half of all retail media ad spending in the region, while the latter continues to lose share to local players in Brazil and Mexico.

VideoAmp focuses on outcomes as CTV spend thrives: An exclusive 蘑菇AV interview demonstrates how the measurement challenger is elevating big data.

Google鈥檚 AI Overviews lead to fewer clicks on healthcare search results: An industry that heavily relies on search must optimize for visibility in AI Overviews while closely monitoring how AI changes consumer search behaviors.

Nearly $30 billion in ad spend will skip the ad triopoly: Meta, Google, and Amazon will see pullbacks as advertisers explore other options

Advertisers battle economic difficulties as they head into upfront negotiations.

AppLovin beat Q1 expectations and exited gaming: The company is now all-in on adtech, led by AXON鈥檚 rapid growth.

The news: Cannes Lions 2025 marked a shift in retail media strategy, with platforms like Pinterest and Reddit forging deeper ties with retailers. CVS announced a clean room data partnership with Reddit to allow targeting based on shared first-party data, launching a Sensodyne and Advil campaign this fall. Pinterest partnered with Instacart to enable shopping from pins and connect ad exposure to sales via closed-loop attribution. Our take: Social platforms are becoming full-funnel retail media environments. By fusing community context with purchase signals, these integrations aim to blend discovery and commerce in real time鈥攑aving the way for more data-rich, measurable campaigns.

MNTN debuts as a public company with a $1.6 billion valuation: Its performance-focused CTV adtech aims to bring small businesses into streaming.

Though programmatic nonvideo digital display ad spend will continue to grow through 2026 when it will hit $70.99 billion, its share of total programmatic digital display ad spend is declining, according to our forecast.

GenAI is taking the search market by storm, but market dynamics will stay largely the same this year.

The news: WPP Media has lowered its global ad spend forecast for 2025 by 1.7%, reaching 6% compared with the 7.7% projected in December. The downgrade is attributed to ongoing trade wars resulting from President Trump鈥檚 current tariff policies, with WPP Media president Kate Scott-Dawkins citing 鈥渦ncertainty.鈥� Our take: Despite global uncertainty, advertisers who remain flexible with data-informed pivots, prioritize performance marketing, and plan for uncertainty will come out on top.

The news: National TV ad revenues will fall 11.4% this year, hitting $35.3 billion, while streamers are expected to rise 26% to $7.8 billion, per a Madison and Wall projection reported by MediaPost. Our take: Advertisers should continue shifting strategies to align with viewing habits and consumer behaviors鈥攂ut remain cautious about complete CTV adoption, as opaque ad placements and looming economic pressures spell an uncertain future.

Now that the election outcome is certain, we explore how Trump鈥檚 proposed tariffs, big-business agenda, and media influence will affect key areas of digital marketing and advertising.

Vizio boosts Walmart鈥檚 retail media edge: New beta program brings exclusive connected TV inventory under Walmart鈥檚 direct control.

Even as ecommerce alcohol sales rise, physical stores continue to dominate the path to purchase. Nonalcoholic beverages and Dry January are also picking up steam.

In-store retail media ad spend will grow by 45.5% this year, but remain low at $530 million. Challenges with attribution and hardware will keep that figure low. But in-store retail media spend is powering digital OOH spend, making up 15% of the channel鈥檚 ad dollars this year, per our November 2024 forecast.

Mercado Libre鈥檚 retail business is thriving: Advertising revenues rose 50% YoY in Q1, and there鈥檚 ample room for growth.

Although the majority of retail media ad spending is concentrated in the region鈥檚 two largest economies, Brazil and Mexico, several players are making their ad offerings available in smaller yet lucrative markets, like Chile, Colombia, and Peru.

鈥淪tandardization will allow retail media networks to maintain and capture the current sizable growth trajectory of retail media ad spend. Essentially, all boats will rise with the tide.鈥�. That鈥檚 why Albertsons Media Collective launched an API for advertisers to integrate retail media campaign data into their own measurement models.