Marktlink → Sectors → TMT → Media

  • Updated February 27, 2026

Media bedrijf verkopen

Media companies are no longer valued on creative reputation alone. In the 60+ deals we’ve guided, the pattern is clear: data, retainer revenue, and measurable impact determine your multiple.

Lisa Jansen

Sector Lead Media & Digital • 11 years • 60+ transactions

“The biggest misconception in media M&A: owners think they’re selling a creative business. Buyers think they’re buying a data business. The agencies that bridge this gap — with measurable client impact and retainer-based models — command 2x the multiples of project-driven peers.”

Sector at a Glance

  • Updated March 2, 2026
VALUATION RANGE

0.0x – 0.0x

↑ +0.3x vs 2024

EBITDA Multiple
Deals in 2025

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Active Buyers

0+

Enter your figures → see your position instantly

Valuation Development

Media EBITDA multiples over the past five years. The 2021 digital boom, 2023 budget-cut trough, and current data-driven recovery tell a clear story.

5-Year Multiple Range

2021 PEAK

0.0x avg

Digital-first agencies rode the COVID wave

2023 TROUGH

0.0x avg

Corporate budget cuts squeezed agency margins

2025 NOW

0.0x avg

Data-driven and MarTech companies lead recovery

Subsegment Analysis

Digital agencies, publishers, and MarTech platforms live in the same sector but are valued on fundamentally different criteria.

Digital Agencies & Marketing Services

[XX] deals in 2025

Multiple Range

0.0x  – 0.0x

+0.4x

Service-based agencies without a tech moat trade at 4.5-6x. The moment retainer revenue exceeds 60% and margins cross 20%, multiples jump. In our experience, the differentiator is measurable client ROI — agencies that can prove impact with data get 1-2x premium over creative-only peers.

Buyer Mix
PE 40% • Strategic 45%
Key Valuation Driver
Retainer mix >60% + EBITDA margin >20%
Am I in this segment? →

Content & Publishing

[XX] deals in 2025

Multiple Range

0x  – 0x

+0.1x

Traditional publishing is under pressure, but the shift to digital subscriptions and owned audiences is creating new value. Companies with first-party data assets and direct reader relationships are being revalued — buyers see them as data companies, not content companies.

Buyer Mix
PE 25% • Strategic 55%
Key Valuation Driver
Owned audience & first-party data
Am I in this segment? →

MarTech / AdTech

[XX] deals in 2025

Multiple Range

0x  – 0x

+0.8x

MarTech and AdTech platforms with recurring revenue models are valued more like software companies than media. Proprietary data — especially first-party and contextual — is the new gold. Cookie deprecation has made privacy-first data solutions highly acquisitive.

Buyer Mix
PE 50% • Strategic 40%
Key Valuation Driver
Recurring SaaS revenue + proprietary data
Am I in this segment? →

Buyer Landscape 2025

Overall Buyer Type Distribution

  • What drives premium valuations

Retainer revenue >60%

+0.0x to +0.0x

EBITDA margin >20%

+0.0x to +0.0x

Low client concentration (<10% top client)

+0.0x to +0.0x

Proprietary tech/data platform

+0.0x to +0.0x

Proven, measurable client ROI

+0.0x to +0.0x

Which of these buyers match your firm?

BuyersChecker analyzes your profile against our active buyer database.

Recent Transactions

Four anonymized deals from 2024-2025 with full details on valuations, buyers, and key learnings.

Tech-Enabled Services

Performance Marketing Agency

Data-driven performance agency with proprietary attribution platform, 85% retainer revenue

REVENUE

€0.0M

EBITDA

€0.0M

MARGIN

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RECURRING

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MULTIPLE

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DURATION

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85% retainer
Attribution platform
E-commerce vertical

Key Insight

The proprietary attribution platform transformed this from a “services” valuation to a “services + tech” valuation. Without the platform, we estimated 5.0-5.5x. With it: 7.4x. Technology moats matter.

Audience = Asset

B2B Content Publisher

Specialist B2B publisher with 180K newsletter subscribers and conference business

REVENUE

€0.0M

EBITDA

€0.0M

MARGIN

0%

RECURRING

0%

MULTIPLE

0.0x

DURATION

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180K subscribers
First-party data
Event revenue 30%

Key Insight

The newsletter subscriber base was the hidden gem. The acquiring publisher valued the 180K opted-in first-party audience at a significant premium over the content revenue itself. First-party data is currency.

Privacy Premium

MarTech Platform

Customer data platform (CDP) with 120 enterprise clients and privacy-first architecture

REVENUE

€0.0M

EBITDA

€0.0M

MARGIN

0%

RECURRING

0%

MULTIPLE

0.0x

DURATION

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90% SaaS
Privacy-first CDP
GDPR-native

Key Insight

Privacy-first architecture was the decisive factor. Post-cookie, European CDP solutions with GDPR-native design are seeing exceptional cross-border interest. The US buyer valued EU regulatory expertise as strategic advantage.

Key-Person Discount

Full-Service Creative Agency

Creative agency with strong brand portfolio, 40% retainer, high founder dependency

REVENUE

€0.0M

EBITDA

€0.0M

MARGIN

0%

RECURRING

0%

MULTIPLE

0.0x

DURATION

0 months

Strong portfolio
Founder dependent
40% retainer

Key Insight

Founder dependency was the valuation ceiling. Despite strong creative work and impressive client logos, buyers discounted heavily for key-person risk. A second management layer would have added 1.0-1.5x to the multiple.

Recognize yourself in these cases? Compare your situation.

Market Trends 2025

AI disrupts and creates value simultaneously

AI is a double-edged sword in media M&A. Agencies adopting AI for efficiency and scale see multiple uplift. Those at risk of AI replacement (generic content, basic design) face compression. Buyers now specifically audit AI strategy.

Source: PwC Entertainment & Media Outlook 2025

±0x

valuation impact

First-party data is the new currency

Cookie deprecation and privacy regulation have made owned audience data extremely valuable. Media companies with opted-in, first-party datasets command significant premiums over those relying on third-party data.

Source: IAB Europe, PwC 2025

+0.0x

premium for data owners

Performance > creative in buyer appetite

The shift from creative-led to performance-led agency valuations accelerates. Buyers systematically ask for client ROI data, attribution models, and measurable outcomes before engaging in diligence.

Source: First Page Sage, Capital A 2025

0%

buyers prioritize ROI proof

PE consolidation of specialist agencies

Platform PE buyers are assembling specialist agency groups — combining SEO, performance, content, and tech under one roof. Niche expertise is the entry ticket; scale comes from the platform.

Source: Jahani & Associates, PitchBook 2025

0%

of deals PE-led

What This Means for You

Interactive tools that give you immediate insights—or full reports in your personal portal.

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Marktlink Multiple

Your estimated valuation

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BuyersChecker

How many buyers match you

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Benchmark Tool

Your performance vs sector

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Buyer Appeal Scan

Which buyers want you

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Portal: All buyer types ranked + appeal factors
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1 min

Timing Scan

Market timing analysis

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Portal: Detailed timing report
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2 min

Sale Readiness Test

How prepared are you

Direct: Readiness score

Portal: Full assessment
+ personalized action plan

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Industry Report 2025

Everything on this page, plus: 12 additional deal cases, detailed subsegment analysis, and 2026 outlook.

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