Advertisers boost spending at retailers like Walmart and Amazon as TV shrinks

Advertisers are increasingly spending more on retail media networks — the platforms run by companies like Amazon and Walmart, which show ads in stores, on apps and websites.The next frontier for the ad market isn't on TV — it's in stores and on your phone.-owned platforms like Facebook began to gobble up market share. While ad dollars are rapidly shifting from traditional TV to streaming, retail and consumer product companies are now taking up a significant part of the mix.

"It's the new TV for mass reach advertising," said Mark Boidman, head of media and entertainment investment banking at Solomon Partners. "If you want to reach someone fast, it's best to get them in a store or on your app. ... It's a 360-degree approach."Walmart is turning the approximately 170,000 digital screens across its U.S. stores into advertising opportunities.

Advertising and media executives note that retail media networks now dominate conversations at conferences and other gatherings, such as the Cannes Lions advertising festival. It's often a highlight on earnings calls, too.

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