Subsequent to months of speculation, BuzzFeed is going public via a special purpose acquisition company (SPAC). The company announced last week that it has reached a deal to go public via a SPAC and as part of the deal, it is acquiring Complex Networks, a digital publisher, from Verizon and Hearst Corp. BuzzFeed is striving to scale up to compete effectively against the giants in the digital advertisement industry, including Google, Facebook, and Amazon. The interest in scaling up was imminent given that the digital advertising services market is growing significantly according to latest forecasts by The Business Research Company.

As per data on the Global Market Model, the digital advertising services market is expected to grow from $155.53 billion in 2020 to $179.77 billion in 2021 at a compound annual growth rate (CAGR) of 15.6%. The digital advertising services market size is expected to reach $281.32 billion in 2025 at a CAGR of 11.8%.

BuzzFeed as well as the SPAC it is merging with indicated that they plan to accelerate the acquisition activity and make it an “M&A machine” – in the words of the executive chairman of the SPAC – 890 Fifth Avenue Partners. The SPAC in the current deal also raised $287.5 million in an IPO offering in January this year and has indicated that its investment focus is on the attractive areas of tech, media, and telecommunications – expect quite some action in these areas soon. Another interesting thing to note is that BuzzFeed acquired HuffPost, the online news media business, from Verizon last year. The current IPO/merger deal also includes the acquisition of Complex Networks by BuzzFeed from Hearst Corp. and Verizon for $200 million in cash and $100 million in BuzzFeed equity.

As per TBRC’s research on the digital advertising market, the internet user base expansion along with self-service advertising platforms is driving the global digital advertising market. The growing popularity of self-service advertising platforms is a key contributor to the digital advertising industry. Self-service advertising platforms are providing advertisers more convenience in the placement of their advertisements. The ease of being able to set up and administer their campaigns without the inconvenience of dealing with human intermediaries draws advertisers’ attention towards digital marketing. The tremendous growth in the number of social media users worldwide is also helping drive the demand for online digital advertising services. However, the growing use of ad blockers is expected to affect the business of online advertising service providers. Globally, more than 40% of internet users have reported using an ad blocker due to various reasons, including irrelevancy of advertisement, interruption, and deceptive promotions.

The Digital Advertising Services Global Market Report is one of a series of new reports from The Business Research Company that provides digital advertising services market overviews, analyzes and forecasts digital advertising services market size, share, digital advertising services market players, digital advertising services market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.

About The Author 

Moïn has over a decade of experience in market research, analysis, and consulting. He has worked with some prominent market intelligence firms in India including Progressive Digital Media, Ovum, and GlobalData. At TBRC, he is involved in reporting insights on technology and media sectors, along with market data and trend analysis, and understanding competition dynamics. His project experience includes a market strategy study for an AI-based marketing software for telecom companies. He has worked for several clients including Amazon, Sony, Flytxt, Fujitsu, and several tech companies. He has a bachelor’s degree in Biotechnology and a postgraduate degree in management from IMI Belgium.

About The Global Market Model

The Global Market Model is the world’s most comprehensive database of integrated market information available. The ten-year forecasts in the Global Market Model are updated in real time to reflect the latest market realities, which is a huge advantage over static, report-based platforms.

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