The Great Unbundling of Media Through Intelligent Technology

For the last two decades, the media and advertising ecosystem has been defined by concentration: a handful of holding companies, a few walled-garden platforms, a small club of “must-buy” media channels.

Entering 2026, that picture will look radically different.

Three forces are converging:

• Holding companies under structural pressure (consolidation, shrinking margins, looming pitch waves)
• AI and deep tech becoming truly accessible to independents and in-house teams
• The old pillars – classic search, Meta, linear TV – losing their unquestioned dominance

The net effect? Democratisation of the media ecosystem. The big still matters, but the moat is leaking – and fast.

Global agencies are heading into a period of intense introspection.

Analysts expect another wave of large-scale consolidation among holding companies – including scenarios where some of the biggest groups are restructured with a sale to private equity or consulting firms in mind. In parallel, Forrester predicts that 85% of U.S. B2C marketing executives will review their media agencies in 2026 – a clear signal of a potential wave of agency reviews and pitch activity. That is not a normal review cycle – that is an industry-wide “are we still getting value?” moment.

Historically, holdings could justify their scale through:

• Proprietary tools (“you can’t get this tech anywhere else”)
• Shared overheads (spreading expensive, senior talent across a huge client base)
• Access and leverage (buying power with big media owners)

All three advantages are now being eroded and this will cause a seismic change.

The biggest shift is technological.

For years, unique tools were a core part of the holdco pitch: “data platforms”, proprietary optimisation engines, shiny visualisation layers. But AI infrastructure, cloud computing and high-performance algorithms are no longer reserved for the few. Any serious advertiser – or independent agency – can now access top-tier capabilities at a fraction of the historical cost.

At Adlook we see this every day.

Independent agencies come to us precisely because they know they can now sit at the same table as the global groups on technology:

• Adlook’s Deep Learning bidding engine consistently outperforms standard setups of well-known buying platforms and “manual human optimisation” in head-to-head tests we run for clients.
• Access to this level of tech no longer requires a holding-company stack and a global deal. It’s available to mid-sized independents, specialist boutiques and even in-house teams.

When a 40-person independent agency can walk into a pitch and say, “We have access to the same – or better – optimisation technology as the holdco incumbent,” the conversation changes.

This is the first pillar of democratisation: advanced tech is no longer a privilege of the Big Six.

For decades, the logic was simple:

“Big groups can afford top talent, because they can spread the cost across a big client portfolio.”

That advantage is fading.

The rise of generative AI and large language models means that many tasks once handled only by big central teams – research, planning support, creative ideation, reporting – can now be significantly accelerated or augmented by smart tools.

Behind that behavioural shift sits the same fundamental truth: AI can take care of much of the complexity, allowing even small teams to excel in areas that were previously out of reach.

Using Adlook as an example, in planning and buying, that means:

• Predictive models that outperform manual rules for bidding and pacing
• Automated budget reallocation across channels and audiences
• Creative and messaging variants generated and tested at a speed no human team can match

A small, sharp team armed with robust AI tools can now do work that previously required an army of planners, traders and analysts.

In other words, the gap between “we have 3,000 media people globally” and “we are a 30-person shop” matters less than ever – if the technology layer is strong. That is a profound democratising force.

Finally, the buying-power advantage is eroding fast. In the most advanced markets – where the big HoldCos generate a large share of their P&L – there simply isn’t that much media left to buy in the traditional way. More and more inventory is moving into automated, programmatic channels. And in that world, scale doesn’t win – a better, smarter algorithm does.

Put those pressures together, and client behaviour becomes easier to predict.

When:

• Margins are under pressure
• Contract reviews are looming
• Tech is no longer exclusive to the big networks
• AI reduces the “talent scale” advantage

…then rational marketers will diversify their options.

We already see three clear moves:

1. In-housing selected capabilities
   
   Many brands have learned during the last five years that they can bring parts of their digital operation inside – data, analytics, creative production, and parts of planning and buying – while still partnering for complex or highly specialised areas.The traditional pitfalls of in-housing are becoming far less relevant in today’s AI-driven media landscape.
2. Working with multiple agencies rather than a single AOR
   
   Instead of one global media AOR doing everything, brands are often building hybrid models:
   
   • holdco or large network for governance and global deals
   • independent specialists for digital, CTV, retail media or creative innovation
   • in-house teams driving strategy and owning data 
3. Actively inviting “smaller” partners into big pitches
   
   The barrier to entry is lower when independents can prove:
   
   • comparable tech (via partners like Adlook)
   • equal or better performance in proof-of-concept tests
   • lower overheads and more senior attention on the day-to-day business

The narrative of “only a global network can handle your complexity” is starting to sound dated. In a democratised ecosystem, clients behave like portfolio managers: they rebalance across in-house, networks and independents to get the best blend of cost, control, innovation and speed.

Democratisation is not only about agencies – it’s also about who controls user intent.

For 20 years, classic search marketing (SEO + SEM) was the most efficient way to capture demand. Today that dominance is under real threat:

• Gartner forecasts that one in four search queries will move away from traditional search engines to AI-powered assistants by 2026.
• Research from Bain and others shows that around 80% of people already rely on “zero-click” answers (direct responses on the results page) for at least 40% of their queries.
• Roughly 60% of searches now end without a click – the user gets what they needed without visiting a brand or publisher site.

This matters for one reason: the gatekeepers of intent are changing.

Brands that built entire growth engines on “owning” specific Google keywords will find that:

• their content is now being summarised and re-packaged by AI models, and
• the user might never see the original website or ad.

That’s another layer of democratisation:

• New entrants – including independent ad tech players – can compete to become the best way to reach people outside of the classic search page: in the open web, in CTV environments, in new AI-driven surfaces.
• “Search-like” intent signals can be inferred from context, behaviour and content, not only from typed keywords.

For companies like Adlook, this shift is actually an advantage. As intent moves from classic search pages into AI assistants like ChatGPT, brands will need new ways to understand and reach users in the moments when those intents are formed. That’s exactly where our investments in deep-learning and large-scale contextual AI matter: we can surface high-intent, high-relevance opportunities across the entire open internet — even when the user journey no longer passes through a traditional search results page controlled by a single platform. Contextual AI becomes the bridge between narrower walled-garden AI-driven discovery and broader, measurable advertising reach.

No discussion about democratisation would be complete without looking at the largest social platforms.

Meta’s position is being challenged on several fronts:

• Regulatory and privacy pressure:
  In Europe, Meta faces strict limits on how it can use personal data for ad targeting. The company has already been hit with a record €1.2B fine and forced to roll out ad-free subscription options in the EU. Users can increasingly opt out of personalised tracking – which directly impacts targeting precision.
• Trust and brand safety concerns:
  Internal documents described in the press suggest that Meta estimated ~10% of ad revenue in 2024 (around $16B) could be linked to scam ads and prohibited offers. The same reporting references estimates of ~15 billion ‘higher‑risk’ ads per day before enforcement catches up. That creates obvious discomfort for brands that care about safety and ethics.
• Values misalignment:
  Big Tech as a whole, and Meta in particular, face growing criticism for a culture perceived as intentionally insufficiently diverse. Whether one agrees or not, this discourse matters.
  
  Marketers increasingly ask not just “does this channel deliver reach?” but “what am I implicitly endorsing by funding this ecosystem?”

Some of the brands already are explicit about reasons to include Adlook in their mix. If a brand can achieve similar reach, relevance and performance in environments that:

• are privacy-first by design,
• rely on context and AI instead of individual tracking, and
• are perceived as more aligned with their values,

then redirecting budgets away from unstable, controversial environments becomes not only a performance decision, but a reputation and governance decision.

Again, this is democratisation in action: the ability to reach the right user in the right moment is no longer owned by one or two walled gardens. Alternative players – including independent ad tech platforms focused on the open web – can now credibly deliver that value.

Linear TV is the last of the old giants – and its position is steadily weakening.

Over the past decade:

• Global linear TV ad spend has fallen by around 27.5% in nominal terms, and by over 50% in real (inflation‑adjusted) terms.
• Its share of total advertising has dropped from over 40% (2013) to nearly 12% (2024), and is forecast to slide further.

At the same time, consumption has already moved:

• In the US, streaming now accounts for roughly 44% of all TV viewing (April 2025, Nielsen The Gauge), and continues to grow.
• Nielsen’s Ad Supported Gauge indicates that 72.4% of total TV viewing in the U.S. (Q1 2025) was ad‑supported. Within ad‑supported viewing, streaming accounted for ~42%, while broadcast + cable accounted for ~58%.

So yes, CTV is eating linear’s lunch. But here’s the important nuance:

A sophisticated CTV strategy is much more than “we run YouTube on TV.”

This is where the market is becoming more educated – and where democratisation kicks in again.

An effective CTV plan in 2026 will:

• Combine multiple publishers and environments – premium broadcasters’ apps, FAST channels, YouTube, and open-exchange CTV inventory.
• Use independent measurement and frequency control across those silos, instead of letting one platform mark its own homework.
• Optimise not only for reach and CPM, but for incremental reach vs. linear TV and – most importantly – business outcomes.

Google understandably argues that “YouTube is the new TV.” And in some ways, it is. In the U.S., YouTube’s 2024 ad revenue was estimated at ~$36B, exceeding the combined ad revenue of the four major U.S. broadcast networks.

But advertisers are increasingly aware that:

• buying only YouTube does not equal “doing CTV properly”, and
• that a more diversified, data-driven, open-web approach can often deliver better incremental reach and more efficient outcome-based buying.

This is fertile ground for independent SSPs, DSPs and measurement providers – again, the tools and inventory access are no longer monopolised by one or two giants.

If the thesis is that the media ecosystem is being democratised, the practical implication is simple:

Stop playing only with the biggest players just because they are big. Start designing your portfolio for resilience, performance and values.

For brands, that means:

• Re-evaluating the mix of in-house, network and independent partners
• Testing open-web, AI-driven solutions alongside walled gardens
• Holding all partners – including Big Tech – to the same standards on performance, transparency and ethics

For holding companies, this shift demands a fundamental strategic reset, moving away from scale-led advantage toward real differentiation built on transparency, agility and measurable value for the clients.

For independent agencies, it’s a once-in-a-generation opportunity:

• You no longer need to apologise for not owning a proprietary stack.
• With the right tech partners, you can walk into any pitch and say:

“We offer senior attention, lower overhead, and access to best-in-class AI – without the bureaucracy.”

At Adlook, we’re obviously not neutral observers – we’re building exactly the kind of technology that makes this shift possible. But regardless of which platform or partner you choose, the structural trend is clear:

Scale alone is no longer a moat.

In 2026 and beyond, curiosity, courage and smart use of AI will matter more than sheer size.

And that’s very good news for anyone who wasn’t born big.

Sources:

1: Forrester blog analysis, Predictions 2026: Marketing Agencies Resign Their Agency, outlining expected agency reviews and consolidation trends, 2025
https://www.forrester.com/blogs/predictions-2026-marketing-agencies-resign-their-agency/

2: Forrester report landing page, Predictions 2026: Marketing Agencies, market outlook and strategic forecasts for agency models, 2025
https://www.forrester.com/report/predictions-2026-marketing-agencies/RES185012

3: Gartner press release, Search Engine Volume Will Drop 25% by 2026 Due to AI Chatbots and Virtual Agents, February 19, 2024
https://www.gartner.com/en/newsroom/press-releases/2024-02-19-gartner-predicts-search-engine-volume-will-drop-25-percent-by-2026-due-to-ai-chatbots-and-other-virtual-agents

4: Bain & Company research, Goodbye Clicks, Hello AI: Zero‑Click Search Redefines Marketing, consumer reliance on AI and zero‑click behaviour, 2024
https://www.bain.com/insights/goodbye-clicks-hello-ai-zero-click-search-redefines-marketing/

5: European Data Protection Board (EDPB) decision, record €1.2B fine against Meta related to EU–US data transfers, May 22, 2023
https://www.edpb.europa.eu/news/news/2023/12-billion-euro-fine-facebook-result-edpb-binding-decision_en

6: Irish Data Protection Commission (DPC) press release, conclusion of Meta Ireland inquiry following EDPB decision, May 22, 2023
https://www.dataprotection.ie/en/news-media/press-releases/data-protection-commission-announces-conclusion-of-inquiry-into-meta-ireland

7: Meta corporate announcement, Facebook and Instagram to Offer Subscription for No Ads in Europe, updated November 12, 2024
https://about.fb.com/news/2024/11/facebook-and-instagram-to-offer-subscription-for-no-ads-in-europe/

8: European Commission press release IP/24/3582, preliminary findings on Meta’s “Pay or Consent” model under the Digital Markets Act, July 1, 2024
https://ec.europa.eu/commission/presscorner/api/files/document/print/en/ip_24_3582/IP_24_3582_EN.pdf

9: U.S. Senate press release (Office of Sen. Richard Blumenthal), call for federal investigation into Meta’s profiting from scam and fraud ads, November 24, 2025
https://www.blumenthal.senate.gov/newsroom/press/release/blumenthal-and-hawley-call-for-federal-investigation-of-metas-profiting-from-scams_fraud

10: ABC News (Australia) investigation, Internal documents show Meta is earning billions of dollars from fraudulent ads, November 7, 2025
https://www.abc.net.au/news/2025-11-07/meta-making-billions-from-scam-ads/105983808

11: Advanced Television industry analysis, Linear TV ad spend drops as streaming shift continues, September 4, 2025
https://www.advanced-television.com/2025/09/04/report-linear-tv-ad-spend-drops-as-streaming-shift-continues/

12: Research Live (MRS) industry report, Linear TV ad spending drops globally, September 5, 2025
https://www.research-live.com/article/news/linear-tv-ad-spending-drops-globally/id/5142556

13: Nielsen audience measurement report, The Gauge™: Streaming Peaks Again, U.S. TV viewing data for April 2025, published May 20, 2025
https://www.nielsen.com/news-center/2025/the-gauge-streaming-peaks-again-drawing-from-successful-multiplatform-strategies/

14: Nielsen measurement methodology update, The Ad Supported Gauge: A New Look at the Ad‑Supported TV Landscape, May 1, 2025
https://www.nielsen.com/news-center/2025/nielsen-launches-the-ad-supported-gauge-a-new-look-at-the-ad-supported-tv-landscape/