Telecommunications giant T-Mobile strengthens advertising sector through acquisition of Vistar Media for approximately $600 million.
T-Mobile Acquires Vistar Media to Revolutionize Digital Out-of-Home Advertising
In a significant move to reshape the digital out-of-home (DOOH) advertising landscape, T-Mobile has announced the acquisition of Vistar Media, a leading provider of technology solutions for DOOH advertisements. The deal, valued at approximately $600 million in cash, subject to closing adjustments, is expected to close in the first quarter of 2025, pending regulatory approvals.
Vistar Media's intelligent marketplace and technology solutions for buying, selling, and managing media campaigns across a global network of over 1.1 million digital screens will be integrated into T-Mobile's existing operations. This acquisition aims to deliver greater efficiency and return on investment (ROI), while enhancing the consumer experience with more meaningful and engaging content.
T-Mobile, a connectivity provider and one of the largest physical in-store retail media network operators, believes in the future of out-of-home advertising. The combination of T-Mobile's customer insights and data, combined with Vistar's end-to-end ad-tech platform, may transform the DOOH business in various ways.
JP Colaco, senior vice president and chief T-Ads officer at T-Mobile, sees a tremendous opportunity to provide more relevant and personalized advertising. Michael Provenzano, CEO and co-founder of Vistar Media, is excited to join T-Mobile, a brand that understands the power and potential of out-of-home advertising.
The acquisition includes all of Vistar's ad tech solutions and capabilities. Global investment bank, Canaccord Genuity, advised Vistar Media on the transaction, with Lowenstein Sandler LLP serving as Vistar Media's legal counsel. Allen & Co. is serving as T-Mobile's financial adviser on the transaction, while Cleary Gottlieb Steen & Hamilton serves as T-Mobile's legal counsel.
The predicted DOOH ad spending in the U.S. in 2025 is projected to continue growing at double-digit rates, with an expected compound annual growth rate (CAGR) of about 17.05% from 2021 through 2025. This growth trend is reflected in DOOH revenues consistently outpacing traditional overall out-of-home (OOH) advertising growth, which itself was around $9.13 billion in 2024 and expected to grow modestly into 2025.
The total OOH advertising industry in the U.S. reached record revenues, with Q1 2025 OOH ad revenue hitting $1.98 billion, a 2% increase year-over-year. The number of digital billboards in the U.S. rose over 40% in 2023 alone, contributing to DOOH's strong market momentum. Despite overall OOH's slower growth relative to total ad spend, DOOH's share and revenue growth are expected to continue outpacing traditional OOH methods, driven by technology adoption and data integration.
The increasing synergy of mobile data, programmatic platforms like Vistar, and DOOH inventory is creating new opportunities for advertisers seeking precise targeting and measurable outcomes. eMarketer forecasts that DOOH ad spending in 2025 will account for over one-third of the nearly $10 billion spent on OOH advertising in the U.S.
Thus, T-Mobile’s acquisition of Vistar Media is a pivotal development supporting the accelerating growth and sophistication of the U.S. DOOH advertising market in 2025. The combination of T-Mobile's customer-centric approach and expertise as one of the nation's most scaled marketers with Vistar's leading out-of-home technology will allow advertisers to easily place their ads where they know their audience will be, improving every step of the customer journey.
- The acquisition of Vistar Media by T-Mobile, a deal valued at around $600 million, is expected to revolutionize the digital out-of-home (DOOH) advertising industry, leveraging technology solutions to deliver greater efficiency and return on investment (ROI).
- As one of the largest physical in-store retail media network operators, T-Mobile believes in the future of out-of-home advertising, and the combination of their customer insights and data with Vistar's end-to-end ad-tech platform may transform the DOOH business.
- JP Colaco, senior vice president and chief T-Ads officer at T-Mobile, sees a tremendous opportunity to provide more relevant and personalized advertising with Vistar's intelligent marketplace and technology solutions.
- In the U.S., the predicted DOOH ad spending in 2025 is projected to continue growing at double-digit rates, driven by technology adoption and data integration, with DOOH revenues consistently outpacing traditional overall out-of-home (OOH) advertising growth.
- The increasing synergy of mobile data, programmatic platforms like Vistar, and DOOH inventory is creating new opportunities for advertisers seeking precise targeting and measurable outcomes, with eMarketer forecasting that DOOH ad spending in 2025 will account for over one-third of the nearly $10 billion spent on OOH advertising in the U.S.
