A wave of consolidation in the advertising technology industry will soon eliminate the majority of players in the space. Some of the biggest ad tech companies that went public during the ad tech boom around 2013 now trade in the single digits.
Why this is happening: Ad tech was created to help advertisers save money and create a better user experience, but the market grew too fast for publishers to manage. That led to regulatory fallout (like the General Data Protection Regulation (GDPR) in Europe), the rise of ad blockers, and publisher/advertiser backlash. Also, once media shifted to the smartphone, many ad tech companies that were cookies and targeting-based (works well on desktop, not on mobile) were left in the dust.
Data: Money.Net; Chart: Chris Canipe / Axios