Pundit
Terry Kawaja
3 receipts • Tracked since Apr 2026
LUMA Partners CEO; iconic LUMAscapes and M&A perspective on adtech/martech.
Affiliations
No firm affiliations on record.
— Filed —
3 receipts
2024
1 prediction- Nov 14, 2024Called it.“2025 is going to be an excellent year for digital advertising. ... All of these things are leading to a much stronger 2025.”
The prediction came true as digital ad spending surged past $750 billion worldwide in 2025, confirmed by multiple reports (eMarketer, Oberlo, Dentsu), indicating significant growth. M&A activity also showed a rebound, as noted by IAB's outlook.
2014
2 predictions- May 19, 2014Called it.“The recent flurry of media M&A activities, including the AT&T DirecTV deal, means that the big players are lining up their assets in advance of the inevitable convergence of TV and digital video.”
AT&T-DirecTV closed 2015; Disney-Fox 2019; WarnerMedia-Discovery 2022; converged TV/CTV is now the dominant ad-buying narrative. Kawaja called the structural arc a decade early.
- Jun 23, 2014Called it.“Paraphrase: Fragmentation happens, so get used to it.”
Fragmentation continued exactly as Kawaja predicted: the LUMAscapes kept growing (martech alone hit 14,106 logos in 2024), and the consolidation buyers were told to stop waiting for never arrived at the long-tail level.