#market-fragmentation

#market-fragmentation

In the December 2025 Brewbound Quarterly On-Premise Report, NIQ data reveals a market where growth is increasingly concentrated in specific outlets, formats, and styles, while once-reliable channels quietly lose ground. Neighborhood and sports bars are emerging as rare pockets of stability, even as premium venues contract and overall beer share continues to cede space to spirits and RTDs. Beneath the topline declines, however, are clear signals of where momentum still exists.

In a letter to the Securities and Exchange Commission, Citadel Securities complained that crypto interests are poised to damage the U.S. stock market and harm consumer protections with a pell-mell rush into decentralized finance (DeFi). The firm didn't directly say who it regards as responsible for this state of affairs-but it's enough to guess from the footnotes, which refer to the venture giant Andreessen Horowitz more than 10 times.

Advertising tech publishers are striving to maximise their revenue, as the economic climate continues on a precarious trajectory. A large portion of advertisers are tightening their belts, seeking to activate campaigns with reduced budgets, and as a result, directing less spend to publishers. Smaller advertisers particularly are likely to feel the financial pressure, as they attempt to make budgets go as far as possible.