Q1 2024 Media, Marketing, & Online Industry Trends

Media, Marketing, & Online transaction volume improved 4 percent on a quarterly basis, from 313 to 324. Aggregate value declined from $14.7 billion to $11.9 billion.

M&A activity in the Entertainment segment increased 40 percent from Q4 2023 to Q1 2024. Three of the four top highest value deals year-to-date occurred in the entertainment sector. These three transactions included RedBird IMI’s $1.5 billion announced acquisition of leading independent television production and distribution company All3Media, CVC Capital Partners and Haveli’s $1.1 billion acquisition of video games developer and publisher, Jagex, and Take-Two Interactive Software’s $460 million announced acquisition of Gearbox Software, a creator and distributor of transmedia entertainment.

Transaction volume in the Marketing segment decreased 10 percent in Q1 2024 over Q4 2023. The segment’s largest deal year-to-date was the acquisition of Let It Fly Media by Two Circles Limited for $320 million. Let It Fly Media is an award-winning creative agency known for its innovative work in sports video production and storytelling.

The E-Commerce segment saw a 2 percent volume decline on a quarter-to-quarter basis. DraftKings’ $750 million acquisition of Jackpocket, America’s #1 lottery app, was the segment’s largest transaction in Q1 2024.