The media industry has entered a period of flux according to WARC. What constitutes a media owner is being challenged by structural shifts in the global advertising market worth $993 billion (€934bn) this year.

It is becoming harder for content-creating publishers to remain competitive against data-rich performance channels like retail media, and sustain publishing businesses through online display revenue alone, says WARC in its latest Global Ad Trends report: Media models in flux.

Source: Report: 40% of all ad spend goes to Alphabet, Amazon, Meta