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Key stat: Meta made only two acquisitions in 2023, while Alphabet (parent company of Google and YouTube) made none, per Luma Partners data provided to EMARKETER.

Beyond the chart:

• This slowdown in deals is likely due to increased antitrust scrutiny from the Federal Trade Commission (FTC) and the US Department of Justice (DOJ), according to our Big Tech Antitrust 2024 report.
• Big Tech companies have previously used mergers and acquisitions (M&A) to bolster their ad businesses, like Facebook buying Instagram or Google purchasing YouTube.
• Just this week, the DOJ announced it was suing Apple for its iPhone monopoly, showing the department is serious about taking antitrust action against Big Tech.

Use this chart:

• Illustrate the decline in Big Tech acquisitions.
• Consider potential impact on the digital advertising landscape.

More like this:

• Apple's new ad product pushes it closer to Google
• Big Tech has amassed tremendous influence over the digital ad market
• A US TikTok ban could fuel Meta's advertising dominance—but Google and YouTube stand to benefit as well
• Antitrust Explainer (EMARKETER subscription required)