2025: The Year of Curation
Despite a challenging start to the year marked by economic uncertainty and shifting regulatory pressures, Curation remains one of the most promising areas in the AdTech ecosystem. While we’re naturally passionate about Curation (it’s at the heart of what we do), the data and ongoing market conversations are proving the momentum. To offer an insider's perspective, our co-founders, CEO James Leaver and COO Robin Bootle, discuss the latest market developments, the factors driving investment in Curation, and the exciting goals Multilocal is set to achieve in 2025
WARC downgraded global ad spend forecasts through 2026 by 0.9 percentage points (pp) to 6.7% in 2025 and 0.7pp to 6.3% in 2026, equivalent to a $19.8 billion cut. In this context, how is Curation holding up?
James Leaver (JL): While marketers are being more cautious with their spending, this actually plays to Curation’s strengths. In uncertain times, advertisers are seeking control, transparency, and guaranteed ROI - and Curation provides just that. At a panel I participated in, hosted by First Party Capital, I shared that in the past 24 months, we’ve seen a significant shift in ad spend from the open market to curated deals: +32% in CTV, +233% in Native, +117% in Video, and an astounding +600% in Audio. This isn’t just a temporary shift; it’s a fundamental evolution.
Robin Bootle (RB): It’s also being driven by pragmatism. Curation offers agility and performance without requiring a complete overhaul of your tech stack. With tighter budgets and sharper goals, brands now demand immediate results. That’s why we’ve focused on ready-to-activate Curated Marketplaces paired with campaign optimisation. As James mentioned, our pipeline hasn’t just remained strong - it has actually grown, despite the macroeconomic challenges.
What trends stood out in Q1 that you think will carry into Q2?
JL: AI is a major focus, but it must be implemented correctly, with seamless integration of human expertise. There's also a growing emphasis on first-party data, as the shift towards contextual and cohort-based targeting accelerates. Brand safety is critical, with a need for pre-vetted supply and domain-level control. Additionally, supply path optimisation continues to be a key topic. Transparency is increasingly becoming a non-negotiable in the industry.
RB: There’s a well-placed expectation that you should know exactly where your dollars are going, with accuracy driving reduced wastage. Then there's the need for simplicity - AdTech can be overwhelming. Curation streamlines this by packaging the right supply, data, and targeting into one turnkey solution. Other key trends include the rise of Retail Media beyond walled gardens and a growing demand for large-scale CTV activation, especially in the U.S.
What is Multilocal planning to deliver in 2025?
JL: Growth is happening across the board. We’ll continue expanding our Curated Audience offerings - especially in CTV, Retail, and Social. With AI enhancing how we discover, match, and optimise audiences, we're scaling smarter without losing the quality we’re known for. On this, human insight continues to play a critical role. And we’re set to keep growing globally and into new markets.
RB: We’re also expanding our partnership ecosystem with DSPs, SSPs, and data providers. Our goal is to make Multilocal the default curation layer for both the buy and sell sides. To support this growth, we’re hiring in key markets and investing in automation to scale efficiently without compromising on service.
What excites you most about the future of curation?
JL: What excites me most is that we’re just getting started. Curation has always been our vision; we’ve lived and breathed it, and we’ve always believed it would move from niche to mainstream. It’s incredible to see it become foundational, and I’m excited for us to continue leading that charge - while also helping our clients get more from every campaign through clearer reporting, useful insights, and practical guidance.
RB: For me, it’s all about scale. We’ve built something that can support thousands of curated campaigns without needing thousands of people. That’s really exciting - it opens up new possibilities, from self-serve curation tools to helping publishers better monetise their PMPs. It’s a huge shift, and I’m excited to be solving real-world challenges at scale.
