Q1 2022 Digital Media sector update Qualitative insights into broader Digital Media trends and public and private valuations across the transaction spectrum, and interviews with today’s leaders transforming the sector. Important disclosures appear at the end of this report GP Bullhound Corporate Finance Ltd and GP Bullhound Asset Management Limited are authorised and regulated by the Financial Conduct Authority GP Bullhound Inc is a member of FINRA GP Bullhound Hong Kong Limited is authorised and regulated by the Securities & Futures CommissionTakeaways ? ? ? Media companies have the potential to capture audience data and rival the advertising prowess of Big Tech MEDIA THREATENS BIG TECH The tech industry has historically had the advantage, as its scale and data pool has enabled targeted ad strategies As media giants reach scale, they’re implementing strategies to unify their digital ad stacks and leverage their audience size ? ? ? Readers have become more interested in non-news related content such as culture and lifestyle NON-NEWS CONTENT DRIVING GROWTH FOR NEWS PUBLISHERS News publishers have taken note and are actively strategising to capture this audience as su