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Ad-tech companies are under pressure as their stock prices fall across global markets. Investors are reacting sharply to heightened competition, particularly from AI-powered digital giants, following a mixed second-quarter earnings season that has dampened outlooks for industry players like The Trade Desk and PubMatic.
Among the biggest decliners, The Trade Desk tumbled 37.1% in just two weeks (between July 30 and August 13, 2025) followed closely by PubMatic (-30.2%), Teads (-27.4%), and Viant (-26.7%), all reflecting deep investor concerns. Mid-tier players such as LiveRamp (-21.3%), MNTN (-20.9%), and Perion Network (-16.3%) also recorded sharp declines, highlighting the breadth of the sell-off. Even Nexxen (-6.6%) and DoubleVerify (-1.2%), often seen as more resilient, struggled to hold momentum.
There were, however, significant exceptions. Some of them include the likes of AppLovin (+22.9%), Zeta Global (+18.5%), and Integral Ad Science (+11.0%) defied the broader trend, posting double-digit gains, while Criteo (+3.9%), Taboola (+2.5%), and Magnite (+0.1%) eked out modest positives, largely in line with the NASDAQ Composite’s 2.8% rise over the same period.
The sharp divergence goes to show how unevenly the ad-tech sector is absorbing competitive and technological shocks.
Companies with stronger AI capabilities, diversified revenue streams, or exposure to performance-driven advertising appear to be weathering the storm better, while those more dependent on traditional programmatic models are bearing the brunt of investor skepticism.
Big Tech
Analysts suggest this bifurcation could accelerate consolidation in the industry, as under-performers face mounting pressure to adapt or merge in order to stay competitive.
But is this only a global phenomenon? Perhaps not.
For India, these global tremors are not without consequence.
Role in India's marketing
Several of the companies hit hardest — such as The Trade Desk, PubMatic and Magnite have been investing heavily to expand their footprint in the Indian digital advertising ecosystem, which is projected to cross Rs 69,856 crores by the end of 2026 according to the Pitch Madison Advertising Report (PMAR). Hence a slowdown in their global performance could influence the pace of innovation, partnerships, and even pricing strategies in the Indian market, where competition is already intensifying with homegrown ad-tech players and the dominance of Google and Meta.
At the same time, India’s digital ad market continues to expand at a robust 12–14% annual growth rate, outpacing global averages. This makes the country both a growth cushion and a strategic testing ground for global ad-tech firms navigating disruption elsewhere.
Ultimately, while global ad-tech stocks are facing turbulence, India’s fast-growing digital economy offers a rare
bright spot. For global players under pressure, the market here could serve not only as a growth engine but also
as a proving ground for new AI-driven advertising models, making India central to how the next phase of ad-tech
plays out.
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