Washington Monthly - The New Gold Rush in Advertising Is Your Shopping List

Senior reporter Karina Montoya explains why retail media networks are the next big threat by monopolists for the future of privacy and journalism.

Today’s broken media business is brought to you by a revolution in advertising. Starting about two decades ago, Google and Facebook figured out how to siphon off most of the ad revenues that had historically gone to support independent journalism. The duopoly is now the target of numerous antitrust actions by regulators around the globe. But the massive damage done to the news industry cannot be reversed. And now the problem is about to get worse. 

A new revolution in advertising could have even wider implications for journalism, democracy, and our privacy. Not even Google and Facebook are safe. And though insiders are investing hundreds of billions in this next new big thing, hardly anyone in the wider world has yet to take notice.  

It’s called “retail media.” Retailers are becoming media companies by selling your data.  

The best way to understand retail media is in a supermarket. You take your shopping cart to the checkout and pull out your loyalty card. You disclosed your address, phone number, and other personal information to get the card. It seemed like a good deal. The card allows you to save a few bucks on selected items. And you might even earn some cash back for future purchases or points you use to buy gas.  

Read full article here