LiveRamp (RAMP) Morgan Stanley Technology, Media & Telecom Conference summary

Key themes and market positioning

• Nearly 3,000 clients and partners attended the recent conference, including many Fortune 100 companies, signaling strong market presence and validation of data collaboration as a major trend.

• Well positioned in connected TV (CTV) and retail media networks, working with all major CTV providers and over 100 commerce media networks.

• Building a network effect where large clients introduce the platform to others, fueling growth and data signal collection for AI applications.

• Technology initially focused on marketing is now being extended to other industries, with significant growth potential beyond the Fortune 1000.

• Addressing a $13B TAM today, with a path to $35B by expanding into new channels and verticals.

Competitive advantages and growth strategy

• Core advantage is the scale and network effect, enabling access to a broad ecosystem and driving further adoption.

• Neutral, interoperable platform works across cloud infrastructures, preserving data governance and privacy.

• Focused on mainstreaming the product, simplifying user interfaces, and introducing variable pricing to attract smaller clients.

• Expansion into new industries will be driven by hiring specialized sales reps and forming channel partnerships.

Pricing model and customer segmentation

• Redesigning pricing to be more flexible and usage-based, aiming to shorten sales cycles and lower entry points for mid-market customers.

• New pricing expected to drive internal efficiency and encourage broader product adoption.

• No single customer represents more than 10% of revenue; top 10 customers account for less than 30%, with high retention among large clients.

• Significant white space remains, with only 25% of branded customers adopting Clean Room solutions, but Clean Room ARR is four times higher than average.