The dominance of Meta and Google in the U.S.

The dominance of Meta and Google in the U.S. digital advertising market, valued at $270 billion, is increasingly under threat as major players like JPMorgan Chase enter the arena with their “First Party” data. JPMorgan, a leading U.S. bank with over $2.4 trillion in deposits, is the latest newcomer challenging this dominance, as Facebook and Google currently control about 47% of the market.

This shift is largely due to the gradual decline of third-party cookies, spurred by Apple and, to some extent, Google itself. This has diminished the value of their data compared to that of companies like Amazon, Walmart, Uber, and now JPMorgan, which offer more precise data to advertisers seeking certainty. JPMorgan boasts 80 million customers in the U.S.

Chase cardholders can now see offers when they log into their app and choose to activate those they find appealing. However, advertisers and media agencies will not have direct access to Chase customer data.

JPMorgan is a financial giant, generating $50 billion in net income on $158 billion in revenue last year—a remarkable profit margin. Jamie Dimon, JPMorgan’s CEO, earned $36 million in salary in 2023, reflecting the bank’s strong financial performance.

The rise of what was once called retail media, led by pioneers like Amazon and Walmart, now poses the most significant challenge yet to Meta and Google. In particular, Google may come to regret the impending end of cookies.