T-Mobile to Acquire Vistar Media for $600 Million, Expanding Revenue Streams

T-Mobile has agreed to acquire Vistar Media—a leading ad tech firm specializing in digital out-of-home (DOOH) advertising—for $600 million in an all-cash deal. The move combines T-Mobile’s robust customer insights with Vistar’s innovative technology and extensive DOOH network. The acquisition is expected to close in Q1 2025, pending regulatory approvals.

Why This Acquisition Matters

• Beyond Phone Plans
  T-Mobile is seeking new revenue opportunities beyond its core phone and internet services. Acquiring Vistar helps to strengthen T-Mobile’s advertising capabilities and diversifies its income streams.
• DOOH Market Growth
  The DOOH market is expanding rapidly and is projected to comprise 42% of total out-of-home (OOH) revenue by 2025. By tapping into Vistar’s network, T-Mobile gains a significant foothold in this growing market.
• Enhanced Targeting and Measurement
  Integrating T-Mobile’s customer data with Vistar’s technology will help advertisers more precisely target specific consumer segments, using location data and mobile app insights. This collaboration also promises improved measurement of DOOH campaigns.
• Personalized Advertising
  T-Mobile plans to use the acquisition to deliver more relevant and personalized advertising experiences, leveraging customer data for tailored messaging.
• Platform Integration
  T-Mobile will gain access to Vistar’s entire marketplace and suite of technology solutions—covering the buying, selling, and management of media campaigns across Vistar’s 1.1 million digital screens. This creates a streamlined, one-stop platform for advertisers.

Vistar Media’s Role

Vistar Media has been at the forefront of modernizing out-of-home advertising through technology and data, offering a platform that streamlines buying, selling, and managing OOH campaigns. Its network spans 1.1 million digital screens, including iconic locations such as Times Square, concert venues, offices, gyms, and airports. Vistar partners with around 370 OOH media owners and more than 3,000 advertisers.

T-Mobile’s Advertising Investments

T-Mobile has steadily expanded its advertising portfolio:

• 2022: Acquired Octopus Interactive (ad-supported tablets in rideshare vehicles).
• Retail Media Network: Operates a network across 20,000 in-store screens.
• T Life: Sells ads via its loyalty app.

Adding Vistar Media further amplifies T-Mobile’s advertising reach and capabilities.

Industry Impact and Future Outlook

This acquisition highlights T-Mobile’s belief in targeted, data-driven digital marketing and a commitment to innovative ad solutions and diversified revenue streams. By merging T-Mobile’s marketing resources with Vistar’s technology T-Mobile looks to further capitalize on the DOOH market which is expected to reach over $3 billion in advertising spend by 2027.

The deal is expected to be slightly accretive to T-Mobile’s EBITDA and aligns with the company’s 2025 Shareholder Return Program, which projects up to $14 billion in returns.