The news: Despite the shift toward programmatic advertising, a study from the Association of National Advertisers (ANA) identified a lingering issue with the trend: The growth of wasted ad spending. The amount of wasted ad spend in programmatic advertising has risen 34% in two years, up to $26.8 billion from $20 billion in June 2023. Our take: The efficiency and growing relevance of programmatic comes with brand safety trade-offs, making transparency and stronger verification a prerequisite for sustained investment.

The news: A recent YouGov study highlighted shifting media consumption habits—and Gen Z is leading the way. Half of Gen Zers make purchases based on social media ads compared with 41% of overall consumers. Gen Z is one of the leaders in time spent with social media, with 28% spending at least 5 hours on social platforms on the average weekday. Our take: As Gen Z proves itself as one of the most valuable demographics for advertisers, brands must tailor strategies to channels and formats that are most likely to connect with these growth drivers.

The news: Netflix is proving its power as the dominant subscription streaming platform with several recent ad wins. The streamer announced that it’s sold all of its available commercial time in preparation for its two Christmas day NFL games, also noting sponsorship deals with partners like Google and FanDuel. Our take: With its strong lead in ad revenue growth, position as the most-used subscription video service in the US, consistently low subscriber churn rate, and content strategy tailored to unique markets, Netflix is likely to continue dominating advertiser investment in connected TV.

This report compares our 2025 US ad spending and time spent with media forecasts. It identifies incongruities between how marketers are spending ad dollars and where consumers are spending their time.

Some high-engagement platforms are still undermonetized—creating opportunities for advertisers to connect with audiences in less-saturated environments.

The news: Paramount struck a $7.7 billion, 7-year agreement with UFC in its first big move after closing its merger with Skydance. The deal will see all 43 live annual UFC events streamed exclusively in the US on Paramount+, while select UFC events will be simultaneously aired on CBS. Our take: With its UFC deal, Paramount is taking the first step toward regaining audience share and ad spend post-Skydance merger, banking on live sports’ steady draw for viewers and marketers.

The news: Podcast ads are the most effective way to drive action through advertising across media types, per a new study from Sounds Profitable and Signal Hill Insights. 22% of monthly podcast listeners have made an immediate purchase after hearing an ad on a podcast in the past six months, per the study. Podcasts outperformed users of premium TV streaming services like Peacock and Netflix (13%), Instagram (13%), YouTube (12%), and TikTok (5%). Our take: As audiences shift to digital, podcasts demand advertiser investment. Brands that pay attention to the format and take steps to innovate will succeed long-term.

LiveRamp kicked off its fiscal year with strong double-digit revenue growth and a 30% YoY earnings increase, driven by momentum across clean rooms, commerce media, and AI-driven infrastructure. CEO Scott Howe spotlighted Cross Media Insights’ early traction, growing adoption in non-retail verticals, and LiveRamp’s strategic shift to usage-based pricing to reach more SMBs. Netflix integrations continue scaling, despite technical complexity, while ROI remains a top sales focus—highlighted by new case studies and a Forrester-backed 300% return benchmark. With 75% of growth still coming from existing clients, LiveRamp is pushing hard to scale new business in a post-cookie, AI-fueled future.

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.

On today’s podcast episode, we discuss how YouTube is ahead in the video streaming wars, if Netflix’s next wave of content can keep audiences’ attention, and how much these new Netflix House locations might move the needle. Join our conversation with Senior Director of Podcasts and host, Marcus Johnson, Analyst, Marisa Jones, and Vice President of Content, Paul Verna. Listen everywhere you find podcasts and watch on YouTube and Spotify.

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: Despite strong subscriptions growth, Spotify’s ad business remains stuck in neutral amid macroeconomic pressures and the slow ramp-up of its ad stack. The streamer’s stock dropped over 11% after Q2 earnings missed expectations on both revenues and profit and the company issued weak guidance for the current quarter. Our take: Efforts around Spotify’s Ad Exchange are promising, but lagging adoption means early testing and partnerships may have resulted in disproportionate insights. With lower consumer spending and economic uncertainties, B2B planners should model more conservative ad results and balance new ad initiatives with more predictable, proven customer-acquisition channels.

The news: TikTok renewed its Lionel Messi-focused live broadcast deal with Major League Soccer (MLS) after a successful 2024 livestream, per a blog post. TikTok will partner with Apple TV to broadcast four select matches in the current MLS season, with a dedicated camera angle focused on Messi during each match. Our take: TikTok and Apple TV’s newest move is another bid to capitalize on a well-known athlete in a profitable genre, where advertising opportunities are plentiful and success is essentially guaranteed. Sports are one of the most reliable ad environments, offering scale, loyalty, and global reach.

Our midyear report revisits the top trends we named in early 2025 to see what’s shaping the market, evolving fast, or fading in the rearview mirror.

The news: Netflix and Fox are closing Upfronts on a high note, with ad success driven by live sports and original programming. Netflix anticipates that it will “roughly double” its ad revenues in 2025 from 2024 after a strong second quarter. Our take: Netflix’s and Fox’s success underscores that high-quality, tentpole programming still commands advertiser trust even as broader ad growth slows. Live sports remains a critical touchpoint for advertisers, delivering consistent audience growth and high engagement and attention. Channels that invest in sports—whether streaming or linear—will attract interest.

YouTube is the No. 1 US media platform when it comes to time spent by US adult users, reaching 11.4 billion minutes per day in 2025.

Netflix's Q2 2025 earnings results came in at $11.1 billion in total revenues. The company’s shift away from reporting net subscriber growth now places investor focus squarely on margins, ad performance, and global monetization. While churn remains low and its brand strong, Netflix faces growing competition from YouTube and TikTok for user screen time. With hit content, live sports, and gaming on deck, the streaming giant’s next act will test its ability to monetize an already massive user base while retaining cultural dominance. For Netflix, growth now means doing more with what it already has.

The news: Roblox debuted a licensing platform in collaboration with companies like Netflix and Lionsgate to give IP rights holders the ability to partner with Roblox creators. Launched on Tuesday, the platform allows brands to connect with Roblox creators and set parameters for use of their IP. Launch partners include Netflix, LionsGate, and Sega, offering access to IP like “Squid Game,” “Stranger Things,” “Saw,” “Twilight,” “Divergent,” and more. Our take: Roblox’s move could give the platform a better chance of achieving its 10% goal—but success hinges on whether the licensing platform can enhance, rather than interrupt, the gamer experience.

The news: Streaming’s share of television usage skyrocketed to 46% in June, while time spent with streaming increased 5.4% versus May, per Nielsen’s Total TV/Streaming Snapshot. Streaming was far above cable (23.4%) and broadcast (18.5%), growing nearly 6% YoY compared with June 2024. Our take: Advertisers are navigating a challenging landscape where connecting with broad audiences necessitates investment in a format that has yet to prove its ability to drive action. A diversified approach is key. While attention and dollars are shifting toward CTV, advertisers can’t discount the effectiveness of traditional formats.

The news: The battle for streaming dominance is heating up between Netflix and YouTube, as both look to assert themselves in an increasingly crowded field. The platforms accounted for 20% of all TV viewing time in May, per Nielsen data. Our take: YouTube’s appeal as a (mostly) free platform means it’ll likely continue its dominance—but all hope isn’t lost for Netflix, which continues to lead in paid streaming offerings. YouTube’s ad-supported free model reinforces its lead against Netflix—but Netflix can compete better if it can justify its premium price with exclusive content and an improved user experience.