Major AdTech Developments – June & July 2025

June and July 2025 have been eventful months for the advertising technology (AdTech) industry, marked by significant news, strategic acquisitions, evolving tech trends, and crucial regulatory moves. This report compiles the major developments from this period – including key announcements, market forecasts, trend analyses (from programmatic and CTV to mobile, identity, AI, and privacy), regulatory updates across regions, as well as expert commentary from industry leaders and analysts. The goal is to provide a comprehensive overview of AdTech’s mid-2025 landscape, organized by topic for clarity and ease of reading.

Market Outlook & Ad Spend Forecasts (Mid-2025)

Global advertising spending remains on a growth trajectory in 2025 despite economic headwinds. GroupM (WPP) revised its 2025 global ad revenue growth forecast to ~6% (down from 7.7%), citing uncertainty over U.S. trade policies reuters.com. In absolute terms, GroupM expects ad revenues to reach about $1.08 trillion in 2025 (with 6.1% growth projected for 2026) reuters.com. Digital channels continue to drive this expansion – digital ads are on track to account for over 73% of global ad revenue in 2025 reuters.com. Notably, user-generated content platforms (social media, creator content) are now capturing a greater share of ad spend than professionally-produced media reuters.com, reflecting marketers’ budget shifts toward where audiences spend time.

Another leading forecast, from Magna (IPG), likewise highlights the ad market’s resilience. Magna projects global advertising revenues will hit $979 billion in 2025, up 4.9% over 2024 adexchanger.com. Vincent Létang, EVP of Global Market Intelligence at Magna, noted that newer channels like retail media and search are offsetting declines in legacy media – these formats are forecast to grow about 8% to $359 billion globally, bringing net new dollars into the ecosystem rather than merely cannibalizing other channels adexchanger.com. “Retail media redirects marketing budgets into digital advertising formats,” Létang explained, meaning ad spend is being boosted by dollars that brands previously might not have counted as advertising adexchanger.com. Traditional media (linear TV, print, radio) by contrast is expected to stagnate or shrink (Magna estimates a ~3% drop in 2025 for traditional media owners) adexchanger.com.

Despite macroeconomic uncertainty – including slower GDP growth forecasts and tariff-related pressures – ad investments are proving durable. Economic jitters are actually accelerating adoption of AI tools in advertising as companies seek efficiency in ad production and targeting, according to the WPP/GroupM report reuters.com. For example, Meta has publicly aimed to let brands create and target ads with AI assistance by 2026, and analysts warn that traditional keyword-based search advertising could see revenue declines as AI-driven search interfaces rise (e.g. chat-based search) reuters.com. Brands are responding by prioritizing flexibility in ad buys and “secure data” strategies in case of further economic swings reuters.com. Overall, industry forecasts as of mid-2025 paint a picture of modest but steady growth, heavily fueled by digital (especially retail media, search, and CTV), with an emphasis on agility and new technology to navigate an uncertain environment.

Key forecast highlights (mid-2025):

• Global ad revenue: ~$1.08 trillion in 2025 (GroupM, June 2025) reuters.com; ~$979 billion in 2025 (Magna, June 2025) adexchanger.com.
• Growth rate: +5–6% worldwide in 2025 (vs. 2024), down slightly from earlier predictions due to economic and policy uncertainty reuters.com adexchanger.com.
• Digital dominance: ~73% of ad spend is digital in 2025 reuters.com. Retail media and e-commerce search ads are a major growth engine (+8%), helping offset declines in traditional media adexchanger.com adexchanger.com.
• By channel: Search advertising +7% in 2025; digital video/CTV double-digit growth; print advertising –3% (continuing decline) reuters.com. U.S. ad market (largest globally) expected to grow ~5.6% to $404.7B reuters.com.
• Industry sentiment: Cautiously optimistic. Advertisers are investing in AI and automation to improve effectiveness amid economic pressures reuters.com. Major holding companies see “connectivity and data” as survival imperatives in the age of AI, as Publicis Groupe CEO Arthur Sadoun put it: “In the age of AI, the name of the game is connect or die.” thecurrent.com.

Major News Stories & Announcements (June–July 2025)

Retail Media & E-Commerce Advertising

One of the biggest headlines came from the retail media arena. DoorDash, the food delivery giant, made a splash by acquiring ad-tech startup Symbiosys for $175 million to bolster its burgeoning ads business adexchanger.com. Announced June 11, this deal gives DoorDash a sophisticated retail search ad platform and signals its ambition to expand advertising beyond its app. In fact, DoorDash revealed it had surpassed $1 billion in ad revenue over the past year, and simultaneously rolled out a suite of new AI-powered ad tools for merchants on its platform adweek.com. “DoorDash is broadening its retail media aspirations,” Adweek noted, with the Symbiosys acquisition allowing advertisers to target audiences across search and social channels using retailers’ data adweek.com. By integrating Symbiosys (which had been powering off-site search campaigns for partners like Best Buy and Chewy), DoorDash aims to “arm the rebels” – empowering other retail and restaurant partners with ad tech while building up its own ad network adweek.com. The move, timed ahead of the Cannes Lions festival, underscores how food delivery apps are evolving into significant ad platforms on par with e-commerce marketplaces. “It goes to show that there is a lot of revenue opportunity in the tail [SMBs],” one retail media insider told Adweek, referring to DoorDash’s focus on small and mid-sized advertisers adweek.com.

Other players also doubled down on retail media tech. PayPal, for instance, used Cannes to unveil a new “storefront ads” offering to help merchants on its platform advertise, reimagining retail media in the payments space (PayPal Ads) adexchanger.com. And in the data/analytics segment of retail marketing, Crisp (a retail data platform) announced it acquired Cantactix, an in-store analytics company specializing in optimizing retailers’ shelf layouts. The June 25 deal will unite Crisp’s retail data capabilities with Cantactix’s shelf-planning analytics – a sign of ad tech and analytics converging around retail data to help brands with both media and merchandising decisions adexchanger.com. These moves come as retail media networks proliferate and competition for ad dollars tied to commerce heats up. DoorDash’s and Crisp’s acquisitions reflect a broader trend: companies are racing to build end-to-end retail marketing stacks that cover onsite and offsite ads, backed by rich commerce data.

Programmatic Advertising & CTV (Connected TV)

Programmatic technology continued to expand its reach – especially into television and streaming. At the Cannes Lions festival in late June, many of the “biggest ad tech announcements show how TV is now programmatic,” as Digiday put it. A standout development was the partnership between Amazon and Roku. The two companies announced a landmark integration making Amazon’s DSP (demand-side platform) the exclusive programmatic buying route for Roku’s CTV inventory, creating what they called the largest “authenticated” connected-TV footprint linkedin.com digiday.com. Starting in Q3 2025, advertisers using Amazon DSP will be able to access Roku’s 80 million-plus households (alongside Amazon’s own Fire TV audience) through a unified identifier for ad targeting linkedin.com. This tie-up essentially connects the biggest streaming device/platform (Roku) with a major buying platform (Amazon Ads), streamlining CTV ad buys across both ecosystems. It underscores a convergence in CTV: traditionally siloed players are joining forces to offer advertisers scaled, data-rich targeting on TV screens – treating TV more like the open web. Digiday noted this integration would let marketers target 80 million U.S. CTV households via a shared ID, and industry observers see it as a response to demand for better targeting in streaming media x.com. In a related move, Disney added Amazon Ads as a partner in its DRAX platform (Disney’s clean-room for audience matching), enabling brands to use Amazon’s DSP to buy Disney streaming inventory with first-party data matching by late 2025 digiday.com. All these alliances point to a blurring line between TV and digital – CTV is firmly becoming a programmatically traded, data-driven channel.

Meanwhile, CTV ad spending keeps climbing. Insider Intelligence (eMarketer) estimates U.S. CTV ad spend will reach around $33 billion in 2025, up ~13% year-over-year, even as linear TV ad spend is forecast to drop by over $4 billion digiday.com. Major streaming platforms like Netflix, Disney+ and Warner Bros. Discovery’s Max have all launched ad-supported tiers, expanding premium CTV inventory. And ad-tech firms focused on CTV are gaining investor confidence: MNTN, a CTV ad platform known for its performance-oriented TV buys, went public in May 2025 – one of the first ad-tech IPOs in a while. MNTN’s stock debuted strongly (up ~60% from IPO price within days, valuation ~$1.2B) digiday.com, signaling Wall Street’s appetite for the CTV advertising story. However, analysts cautioned that for new public ad-tech companies, success “demands flawless execution amid macro uncertainty,” with a need to prove profitable growth in a competitive, evolving video ad market digiday.com digiday.com. Overall, programmatic buying is now the norm in video/TV environments – from dynamically inserting ads in streaming content to using automated auctions for linear TV impressions – and the June announcements at Cannes underscored that trajectory.

On the mobile advertising front, developments were more evolutionary. Mobile ad spend remains a huge portion of digital advertising, but the industry continues adapting to privacy changes like Apple’s App Tracking Transparency (ATT) framework. By mid-2025, many mobile advertisers have shifted toward contextual targeting, SDK-based solutions, and Apple’s SKAdNetwork attribution as cookie-less and IDFA-less strategies mature. While no single June/July headline dominated mobile ad tech, the sector is seeing steady innovation in areas like privacy-safe measurement (for example, adoption of aggregate reporting APIs) and in-app programmatic. One notable trend is the growth of in-app mobile video and gaming ads – with gaming and streaming usage up, brands are investing more in those formats (some ad tech firms reported mobile gaming and CTV as twin engines of growth in mid-2025). In summary, mobile advertising continues to be lucrative, but the conversation has shifted to first-party data and privacy compliance, making it a less buzzed-about yet crucial part of the AdTech landscape in 2025.

Data, Identity & Privacy Updates

Data privacy and identity solutions have been front and center this summer, as regulators and browsers reshape the rules of ad targeting. Google made waves in April by effectively backtracking on its plan to phase out third-party cookies in Chrome. In a surprise U-turn, Google announced it “will not be rolling out a new standalone prompt for third-party cookies” in Chrome and will retain support for third-party cookies for the foreseeable future reuters.com. This reversal – announced April 22 but reverberating through June/July – was widely seen as a response to regulatory scrutiny. It came just days after a U.S. federal court found that Google’s ad tech business holds an illegal monopoly in multiple markets (publisher ad servers and ad exchanges) and as the DOJ seeks potential remedies (even a breakup of Google’s ad stack) digiday.com digiday.com. Google’s decision means it paused the deprecation of third-party cookies, citing “divergent perspectives on making changes that could impact the availability of third-party cookies” in the ecosystem reuters.com. Anthony Chavez, Google’s VP of Privacy Sandbox, said users can simply continue to choose cookie settings as they do now, and that Google will keep working on Privacy Sandbox APIs without forcing a disruptive cut-over reuters.com reuters.com.

Regulatory reactions: In the UK, the Competition & Markets Authority (CMA) responded by proposing to release Google from the formal Privacy Sandbox commitments it had imposed in 2022. By mid-June, noting Google’s policy reversal, the CMA stated that those commitments (meant to ensure Google’s cookie alternatives didn’t harm competition) may be “no longer necessary” digiday.com. The CMA opened a consultation (through July 2025) on lifting the undertakings, essentially giving Google a “lifeline” on this front digiday.com digiday.com. However, many in the industry view Google’s cookie U-turn as the effective death of the Privacy Sandbox plan – critics argue Google pulled back primarily to avoid antitrust actions and keep control of tracking on its terms digiday.com. Digiday reported that insiders now consider Privacy Sandbox “unofficially dead,” even if Google won’t say so publicly digiday.com. Google maintains it hasn’t abandoned the initiative entirely, but with Chrome’s prompt for cookie opt-out shelved, any transition away from third-party cookies is delayed indefinitely. Privacy advocates and regulators like the U.S. FTC are keeping a close eye on alternative tracking methods; the FTC warned that tools such as “data clean rooms” shouldn’t be assumed privacy-safe just because of their name – “despite their squeaky-clean name,” such tools “have complicated implications for user privacy,” the FTC cautioned in late 2024 adexchanger.com.

Consumer privacy laws have also advanced. In the United States, five new state privacy laws took effect in 2025 (including Delaware, Iowa, Indiana, Montana, and Tennessee) with several more (e.g. Oregon, Minnesota) slated to kick in later in the year, further expanding the patchwork of regulations governing data use flabizlaw.org didomi.io. Many of these laws include opt-out rights for targeted advertising and sale of data, forcing advertisers to implement mechanisms for consumers to refuse tracking-based ads. For example, the California Privacy Rights Act (CPRA, effective 2023) is now being enforced in mid-2025, and states like Colorado and Connecticut (with laws effective 2023) are in full swing with compliance, including global opt-out signals. By July 2025, states such as Colorado are requiring recognition of universal opt-out mechanisms for targeted ads fisherphillips.com – meaning ad tech firms must honor browser-based “do not sell/do not share” signals. Additionally, Minnesota’s Consumer Data Privacy Act takes effect July 31, 2025 didomi.io, adding another regime that, among other things, lets users opt out of profiling and targeted advertising. This proliferation of state laws is pushing ad tech companies to invest in consent management and first-party data solutions to ensure compliance across jurisdictions.

Globally, privacy regulation continues to tighten. In the EU, enforcement of the GDPR and related laws in advertising has ramped up – there were no major new EU ad privacy laws enacted in June/July 2025, but regulators are actively enforcing existing rules. In early 2025, Meta (Facebook) was ordered by EU authorities to obtain consent for personalized ads and fined for unlawful data use, leading Meta to announce it would stop exploiting some personal data for targeting in Europe certpro.com. The EU’s Digital Services Act (DSA), which took full effect for very large platforms in 2024, is now in mid-2025 requiring greater transparency in online advertising and bans targeting minors with personalized ads – compliance with these provisions is an ongoing effort for big tech companies. Moreover, the EU is finalizing a Political Advertising Regulation to impose strict disclosure and limit microtargeting for political ads by 2025 (a June 2025 European Commission call for evidence sought input on targeting rules for political ads) osborneclarke.com. In APAC, countries like China and India are also enforcing new data protection laws (China’s PIPL, India’s Digital Personal Data Protection Act) that impact ad tech – for instance, India’s forthcoming law will mandate how companies obtain consent for personal data usage, affecting ad targeting practices for global advertisers operating there trustarc.com.

In summary, mid-2025 finds the ad tech industry at a crossroads on identity: third-party cookies got an unexpected lease on life (for now), but privacy regulations are multiplying, steering the industry toward first-party data, contextual targeting, and privacy-preserving tech. Companies are treading carefully – balancing the need for effective targeting with compliance. Expect continued evolution in identity solutions (unified IDs, clean rooms, browser APIs) as the community digests these developments. As one industry insider quipped, “Privacy fatigue may be setting in after Google’s cookie U-turn, but the search for alternatives hasn’t stopped.” (Digiday, April 25, 2025) digiday.com.

Mergers, Acquisitions & Investment Activity

M&A activity in AdTech accelerated through Q2 2025, indicating a consolidation trend as companies seek to build full-stack capabilities. According to LUMA Partners, deal volume in Q1 2025 was up 26% compared to late 2024 digiday.com, and this momentum has continued into mid-year. Key mergers and acquisitions during June–July 2025 include:

• DoorDash acquires Symbiosys (June 2025) – DoorDash’s $175M purchase of Symbiosys, a retail media adtech startup, to expand its advertising solutions (and crossing $1B in ad revenue) adexchanger.com adweek.com. This deal gives DoorDash an off-site ad platform and signals aggressive expansion in retail media.
• Alliant acquires AnalyticsIQ (June 30, 2025) – Data company Alliant bought AnalyticsIQ, a predictive analytics and audience modeling firm, to scale up its consumer audience graph and enhance its data platform adexchanger.com adexchanger.com. Notably, the deal also brought in a new CEO for Alliant (AnalyticsIQ’s chief Scarlett Shipp) to lead the combined company adexchanger.com. The unified Alliant-AnalyticsIQ will merge large pools of transactional data with psychographic and survey data to improve audience targeting for marketers adexchanger.com.
• Crisp acquires Cantactix (June 25, 2025) – Retail data specialist Crisp announced the acquisition of Cantactix, an in-store analytics and shelf optimization company adexchanger.com. This merger reflects the convergence of ad tech with retail analytics: Crisp can now offer brands and retailers insights from shelf placement data alongside its retail media data, aiming to provide a more comprehensive picture of retail performance (from shelf to ad impression).
• Mediaocean stakes & earlier deals (H1 2025) – The agency holding companies have been “on an ad tech shopping spree,” as observed by industry press thecurrent.com. In the first half of 2025, we saw Publicis Groupe acquire Lotame (Mar 2025) and WPP purchase InfoSum (Apr 2025) thecurrent.com – both deals giving agencies control of identity and data management solutions. IPG, WPP, and Omnicom also collectively took minority stakes in Mediaocean in Q1 thecurrent.com, aligning with their strategy to own more advertising technology infrastructure. The rationale, as Publicis CEO Arthur Sadoun summed up, is that in an AI-driven era “connect or die” – agencies need direct access to data and tech to remain competitive thecurrent.com. These moves by holding companies to snap up ad tech vendors (from data onboarding to clean rooms) continued the trend of Madison Avenue meeting Silicon Valley, which remained a theme into June/July.
• Other notable investments – Ad tech startups focused on AI have attracted funding; for example, video ad creation platform VidMob raised new capital (eight-figure round) in May castleplacement.com, and sector-specific funds like FirstPartyCapital launched a £50M fund (June 2025) dedicated to early-stage ad tech ventures, backed by strategic investors such as Index Exchange exchangewire.com. These show that despite some IPO slowdowns, private investment in ad tech innovation (especially AI, privacy, and retail media solutions) is robust.

This uptick in M&A reflects a maturing market: larger players are consolidating to offer end-to-end solutions, and private equity is active in assembling platforms (Alliant’s acquisition was PE-funded adexchanger.com). It also underscores an urgency to prepare for a cookie-less, AI-influenced future – companies want to own the tech and data that will define the next chapter of advertising. As one commentator noted, “With the rise of artificial intelligence, agencies will be looking to gain any advantage they can… snapping up ad tech to claw back control” thecurrent.com thecurrent.com. The real test, however, will be whether these mergers actually drive innovation or simply create walled gardens of their own thecurrent.com thecurrent.com. For now, deal-making in 2025 indicates confidence that scale and integrated data are keys to thriving in AdTech’s evolving landscape.

Industry Trends & Expert Insights

Several cross-cutting technology trends have shaped AdTech in mid-2025:

• Generative AI in Advertising: The conversation around AI has shifted from fear to embrace. At Cannes Lions 2025, advertising leaders were “genuinely excited about the future… and technology’s role” in creativity adexchanger.com. AI is now seen as a “copilot” for creatives, not a replacement adexchanger.com – with tools that auto-generate copy, images, or optimize targeting being integrated into ad platforms. Major ad sellers like Meta and Google are rolling out generative AI features (e.g. AI-driven ad copy generation, responsive ads that build themselves). On the buy side, brands are experimenting with AI for media planning and bid optimization. The consensus by July 2025 is that AI can turbocharge campaign effectiveness – from dynamically tailoring creative for different audience segments to improving conversion predictions – if used responsibly. For example, Meta’s roadmap to let brands fully create ads with AI by 2026 shows the direction of travel reuters.com. That said, the rise of AI also brings challenges, like ensuring transparency (hence new guidelines for labeling AI-generated content in ads digilogy.co) and avoiding bias in algorithmic targeting. Overall, AI integration is a dominant theme: “AI” was perhaps the buzzword of every industry conference this summer, signifying a new era where machine learning underpins much of AdTech’s innovation.
• Data Clean Rooms & Collaboration: With privacy constraints growing, clean rooms and cloud-based data collaboration tools have proliferated. Companies like Google, Amazon, and Disney are all using clean room environments to allow advertisers to match data for insights without raw data exchange (e.g., Disney’s DRAX, Amazon Marketing Cloud). June 2025 saw continued refinement of these tools – for instance, Google proposed a Chrome feature to block attempts to re-identify users in Incognito mode digiday.com, an example of adding privacy guardrails. However, regulators are scrutinizing these solutions: the FTC’s late-2024 warning (resurfacing in discussions mid-2025) that “how a technology is named doesn’t tell you how it’s used” adexchanger.com is essentially a reminder that even privacy-safe havens like clean rooms must be monitored for compliance. The big picture is a trend toward “privacy-preserving” analytics – using cloud infrastructure, differential privacy, and aggregation so advertisers can glean targeting and measurement insights without personal data leakage. Many AdTech firms are marketing their clean room or data collaboration tech heavily this year as a future-proof solution.
• Measurement and Attribution Challenges: A recurring theme in mid-2025 is the “measurement crisis” in a fragmented media landscape adexchanger.com adexchanger.com. Advertisers are struggling to get unified reporting across walled gardens, CTV, and web, especially as identifiers disappear. At Cannes, panelists noted the demise of the old “last-click” and cookie-based attribution models – and the rise of mixed modeling, incrementality testing, and probabilistic attribution. There’s industry momentum toward new standards (like cross-media audience measurement initiatives from the WFA and ANA) and partnerships (e.g., Nielsen teaming up with big platforms on alternate currencies). The key insight: measurement is being re-invented, likely as a combination of panels, consented first-party data, and AI modeling to fill gaps. Marketers in July 2025 are focusing on outcomes (sales lift, ROI) more than granular user-level tracking, a significant mindset shift forced by privacy changes.
• Regulatory & Antitrust Overhang: Finally, expert observers emphasize that regulatory moves now carry major strategic weight in AdTech. The U.S. Department of Justice’s antitrust suit against Google (with a potential break-up on the table) could “reshape the digital advertising landscape” if it forces Google to divest parts of its stack digiday.com. A decision on remedies in the Google search case is expected by August 2025, and the ad tech case remedies phase starts in September digiday.com. Any outcome – from a breakup to behavioral restrictions – would have far-reaching implications for competitors and publishers. Analysts are divided: some say breaking up Google’s ad business could “restore competition”, while others suggest hefty fines or conduct requirements might be more likely digiday.com. In Europe, big tech firms are already adapting to the Digital Markets Act (DMA) mandates (e.g., opening up their platforms to third-party data access in some cases), which could give ad tech intermediaries new opportunities. The consensus among industry experts is that regulatory risks and compliance will remain a top concern through 2025 and 2026 – effectively becoming a part of AdTech strategy rather than an afterthought. As one ad exec mused anonymously, the industry might be heading toward a landscape where only the most adaptable (or well-resourced) survive the legal onslaught: “There’s a lot of competition and change coming… the anti-trust trial is misguided [if] AI and new entrants are changing both search and ad tech” digiday.com – implying the market may self-correct before regulators can.

Final Thoughts

The June–July 2025 period in AdTech has underscored a few overarching narratives. AdTech is resilient – ad spending is growing, not retracting, and new channels (retail media, CTV, short-form video) are infusing life into the market adexchanger.com. Convergence is key – lines are blurring between traditionally separate domains (TV and digital, commerce and advertising, media and creative). We see retail companies acting like ad platforms, and TV platforms embracing programmatic pipes. Data is the prized asset, driving both M&A and strategy, as every player from agencies to walled gardens seeks to secure rich data and identity solutions for the cookie-less future. At the same time, trust and privacy hang in the balance – with regulators increasingly forcing the industry to reinvent targeting in a consumer-friendly way.

Industry leaders voice optimism that technology (especially AI) will help advertising become more relevant and effective, not less. “We now need to engineer relevance into every impression… Technology is a welcome ally,” wrote one executive after Cannes, noting that marketers were upbeat about tech’s role in enhancing creativity adexchanger.com adexchanger.com. That optimism is tempered by realism about challenges: fragmentation, economic pressures, and the need to maintain consumer trust. As we move into the second half of 2025, all eyes are on how these trends play out – whether consolidation truly simplifies the ad tech ecosystem, whether AI lives up to the hype in delivering ROI, and how the push-pull between innovation and regulation resolves. One thing is clear: the AdTech industry of 2025 is in a dynamic phase of transformation, with June and July providing a preview of the new era of advertising being shaped – one that is more automated, more collaborative (yet privacy-conscious), and increasingly intertwined with the broader digital economy.

Sources: AdExchanger (June 2025) adexchanger.com adexchanger.com; Reuters (June 9, 2025) reuters.com reuters.com; Adweek (June 11, 2025) adweek.com adweek.com; AdExchanger (June 11, 2025) adexchanger.com; AdExchanger (June 25, 2025) adexchanger.com; AdExchanger (June 30, 2025) adexchanger.com adexchanger.com; The Current (Trade Desk) (June 2025) thecurrent.com thecurrent.com; Digiday (April 25, 2025 & June 17, 2025) digiday.com digiday.com; Reuters (Apr 23, 2025) reuters.com reuters.com; Digiday+ (June 2025) digiday.com digiday.com; Reuters (June 2025) reuters.com; Digiday (June 16, 2025) linkedin.com; LinkedIn/Digiday (June 2025) digiday.com; AdExchanger (June 15, 2025) adexchanger.com; AdExchanger (June 25, 2025) adexchanger.com; White House Case via Flabizlaw (2025) flabizlaw.org. (All sources accessed June–July 2025)