The news: WPP has taken another hit in earnings, underscoring the current unstable market defined by economic uncertainty.Profits dropped 71% pre-tax in the first half of the company’s financial year, falling to £98 million ($125.2 million), while operating profit fell nearly half (47.8%), reaching £221 million ($282.3 million). Our take: WPP’s profit plunge serves as a wake-up call for agencies to accelerate transformation and prove value beyond media buying. In an AI-dominated landscape, advertisers are demanding more for less.

The news: Disney announced that it will merge Disney+ and Hulu in 2026, a move that could save it $3 billion. The news came after a mixed Q3 FY25 that beat expectations thanks to high spending at Disney theme parks and growth in streaming, but saw advertising revenues fall short of analyst estimates. Our take: Disney’s future success depends on whether merging its core streaming offerings boosts advertiser appeal and a successful sports push that can compete on a similar level as rivals with access to tentpole live events like the Super Bowl.

The news: Google faces another anticompetitive accusation as ad tech company OpenX becomes the latest player to challenge Google’s grip on the digital advertising ecosystem. OpenX filed a lawsuit accusing Google of anticompetitive conduct in the digital ad space, claiming the company’s actions “crippled competitors like OpenX at every turn,” preventing fair competition. Our take: Google’s dominance means advertisers won’t completely cut spending—but OpenX’s lawsuit is building on advertisers’ growing concerns over Google’s control of the ad ecosystem and curiosity about viable alternatives.

Snap posted 9% YoY revenue growth in Q2 2025, reaching $1.35 billion, but fell short of expectations due to a technical ad platform error that temporarily underpriced inventory. DAUs rose 9% to 469 million and Spotlight engagement surged, yet global ARPU remained flat and margins tightened. Snap’s performance contrasted sharply with stronger ad results from Meta, Google, and Reddit, raising concerns about its ability to monetize growing usage—especially in fast-expanding but low-yield regions. Snap did see promising gains in subscription revenue and AI-driven commerce ads, but must execute better on monetization to remain competitive in a rebounding ad market.

The news: Advertisers are increasing investment in up-and-coming digital advertising channels as the shift away from traditional continues, per a DoubleVerify study. Social media maintains the highest level of investment among North American marketers. Seventy-nine percent are already investing, while 19% have plans to. Our take: High-performing traditional ad formats are being overlooked because they’re harder to measure—but optimizing for attribution over outcomes could come at a cost.

The news: Disney and the NFL struck a landmark deal late last week that gives the entertainment giant access to a suite of high-profile NFL content in exchange for an undisclosed equity stake in ESPN that is “potentially worth billions,” per The Athletic. Our take: It won’t be long before the lines of power in the sports streaming world are reexamined once more, and the Disney-NFL deal foreshadows that ESPN may get marquee NFL rights next time around. YouTube’s Sunday Ticket contract with the NFL expires in 2030, with Amazon’s Thursday Night Football agreement ending three years later.

The news: Google is gearing up for a wide release of ads in AI Mode search as advertisers grapple with concerns over brand safety and performance erosion in AI-curated environments. Our take: Even as concerns over Google’s ad dominance linger and advertisers consider competitors, cutting spend on Google entirely remains highly unlikely—but the dominoes are stacking up against Google. Ads in AI mode shows the search giant is taking steps to protect itself in an increasingly competitive ecosystem.

In an EMARKETER interview, Reddit COO Jen Wong shared optimism following the platform’s strong Q2, highlighting its focus on delivering ad outcomes over increasing ad load. Despite capturing just over 1% of US social ad spend, Reddit is growing ARPU through investments in machine learning, creative tools like Memorable AI, and advertiser infrastructure. Wong emphasized Reddit’s auction model supports full-funnel goals, while global expansion is underway through localized insights and self-serve adoption. She spotlighted Reddit Community Intelligence as a milestone, enabling brands to tap into decades of authentic discussion data. The company’s long-term bet: authenticity will outperform algorithms.

The news: Instagram added new limitations to its livestream feature, now requiring creators to have a public account with over 1,000 followers to go live, per TechCrunch. Our take: While it could benefit Meta’s competitive position in the livestream space, Instagram’s latest restrictions will harm creators looking to break into the influencer space—necessitating rapid adaptation. Smaller creators could shift attention to other platforms with less restrictive livestream requirements—think YouTube, which only requires 50 subscribers to go live, and Twitch, which has no livestream minimum.

Xbox hits 500M MAUs and $5 billion Game Pass run rate: Franchise power and console loyalty fuel Microsoft’s gaming momentum.

The news: Amazon reported strong Q2 results for its advertising business, with advertising revenues reaching $15.6 billion—up a significant 23% YoY. Net sales increased 13% YoY to $167.7 billion, well above Q2 guidance that warned of “tariffs and trade policies” and “recessionary fears.” Our take: Moving forward, Amazon will need to innovate what it’s already offering by pioneering a retail media strategy that extends Amazon’s data and ad tech beyond its own storefront, AI-driven tools that simplify creative production and optimization at scale while prioritizing privacy, and more immersive and shoppable ad formats in its streaming offering.

LinkedIn posted 9% YoY revenue growth in its June-ending quarter, fueled by rising engagement, B2B ad demand, and AI-powered tools. Despite soft hiring trends, sessions rose 11% YoY as more creators and professionals use LinkedIn for content, networking, and branding. Microsoft CEO Satya Nadella emphasized the platform’s evolution from a resume archive to a dynamic business hub. AI continues to drive efficiency and creativity across features, benefiting both users and advertisers. With strong identity data and a trusted audience, LinkedIn is carving out a stable, differentiated space in social media—positioning itself for long-term relevance beyond recruitment cycles.

The news: Netflix is dialing up its global ad game, with its latest UK hire signaling what’s to come next for the streaming giant. The company hired Ed Couchman, who previously served as the head of advertising sales for Spotify’s UK and Northern Europe business, to spearhead UK ad sales, per Business Insider. Couchman has served in ad sales roles at Meta, Snap, and Channel 4 in the past. Our take: Hiring Couchman is a critical step in shifting Netflix’s ad focus from the US market to reach foreign advertisers who haven’t taken advantage of its broad reach.

The news: Paramount reported mixed quarterly earnings and upfront results, underscoring the limitations of a content portfolio lacking major sports rights to drive engagement. The company’s biggest blow came from streaming service Paramount+, which lost 1.3 million subscribers in Q2—something the company attributed to “the expiration of an international hard bundle deal.” Our take: Paramount’s results depict a company capable of staying afloat, but struggling to build offerings that drive increased viewership and advertiser investment—necessitating that the company build its sports offerings to grow as competitors dive head-first into sports programming.

Reddit posted a standout Q2 2025, with revenues jumping 78% year-over-year to $500 million—including $465 million in ad revenue, up 84%. Net income reached $89 million with strong EBITDA and free cash flow. Global DAUs grew 21% to 110.4 million, and US ARPU climbed 59% to $7.87, signaling improved monetization. Reddit is now a billion-dollar US ad business a year ahead of forecasts, driven by growth in AI ad tools. Yet challenges remain: Reddit still holds only 1.1% of US social ad spend and relies heavily on Google Search traffic. Sustaining growth means reshaping advertiser perception and boosting direct engagement.

The news: American Eagle’s latest ad with Sydney Sweeney is sparking debate across the political spectrum, with opinions ranging from those who believe the “good jeans” pun promotes eugenics and white supremacy to those who praise the ad for its “anti-woke” message. But regardless of where you land on the campaign, American Eagle is giving advertisers key lessons in toeing the line between bold branding and cultural missteps. Our take: Even campaigns that generate buzz can backfire if they ignore cultural sensitivities—meaning advertisers must adopt cultural intelligence as a core competency in creative strategy.

Meta’s Q2 2025 earnings showed the company thriving despite softening engagement in mature markets. Revenue surged 22% YoY to $47.52 billion, largely driven by better ad pricing, AI-optimized performance tools, and growing monetization via WhatsApp. Although user growth was modest, Meta demonstrated strong pricing power—especially in North America and Europe—and continues to see big potential in Asia-Pacific. Operating margins remained healthy at 43%, even with record AI investments. As Meta extracts more value per user and expands monetization across platforms, its performance proves that engagement isn’t the only growth lever—it’s how well each session gets monetized.

Microsoft reported $76.4 billion in Q2 revenue, up 18% YoY, as cloud infrastructure, productivity software, and embedded AI drove strong performance. Microsoft Cloud grew 27% to $46.7 billion, and Azure's annual run rate surpassed $75 billion, overtaking Google Cloud. Enterprise adoption of tools like Dynamics 365 continues to rise, reinforcing Microsoft’s role in AI-powered operations. Following the report, Microsoft’s market cap crossed $4 trillion. The company plans to spend $80 billion in fiscal 2025 to expand its AI infrastructure, while showing capital discipline. Microsoft is positioning itself as the foundational enterprise platform for the AI era.

The news: Edison Research’s Q2 2025 “Share of Ear” report revealed key trends in ad-supported audio and what channels are winning. The conclusion? Radio is still dominating in time spent across age groups—and while podcasts are gaining ground, the shift is slow. Our take: Strategies that focus solely on podcasts at the expense of radio will fail to capitalize on the full potential of ad-supported audio. Brands that combine radio’s enduring reach while accounting for podcasts’ ability to engage and drive action will unlock the best outcomes.

The news: Despite a surge in sports advertising and streaming, Walt Disney Co. failed to surpass last year’s upfront volume, citing a result that was “consistent with last year,” per a press release. Streaming accounted for over 40% of the company’s total upfront volume, on par with 2024, while sports advertising commitments across digital and linear were worth around $4 billion. Our take: As live sports viewers remain consistent and audiences increasingly turn to digital, Disney’s future growth depends on how well it can transform its streaming offerings into hubs for live sports.