5 companies have captured an insanely large share of the U.S. ad market over the last decade

America’s advertising market has transformed so dramatically over the last decade that almost two-thirds of it is now in the hands of just five tech companies.

This week, MoffettNathanson released a report called “U.S. Advertising: Are We Near the AI Tipping Point?” which highlights, among other things, how generative AI is disrupting TV advertising as interest in traditional media continues to shift away.

The report suggests that the effects of AI have been prominent among some of the largest Big Tech companies, which have taken up incremental market share through improved targeting, engagement, and performant creative.

For instance, the findings point to how five major online companies—Meta Platforms, Amazon, Microsoft, Google owner Alphabet, and ByteDance-owned TikTok—have grown thei