Big Tech isn’t just capturing ad budgets — they’re building tools that eliminate the need for agencies entirely. Retail media networks represent the sharpest threat.
The Platform Disintermediation Threat:
- Google and Meta: Rolling out AI-powered tools that help brands design ad campaigns directly, without third-party consultants
- Self-serve platforms: Grown sophisticated enough that brands can manage significant media investments in-house
- Retail media networks: Amazon, Walmart, and others offer “closed-loop” attribution that bypasses traditional agency media buying entirely
Why Closed-Loop Attribution Matters:
Amazon knows exactly:
- What ads you saw
- What you clicked
- What you bought
- When you bought again
This end-to-end visibility makes traditional agency attribution models look primitive. Why pay an agency for media buying when Amazon can prove ROI directly?
The Projection:
Retail media is projected to surpass TV ad revenue — a structural shift that further erodes agency relevance in media planning.
This is part of a comprehensive analysis. Read the full analysis on The Business Engineer.









