This report provides insights into the Digital Services sector, including trends and valuations across the transaction spectrum. The report highlights the high demand for data-driven programmatic specialists and the potential of Digital Out Of Home as the "last great broadcast medium." Adtech companies have outperformed key global markets, and the explosion in social platforms is changing the game. Specialist social expertise is becoming necessary to keep pace, and influencers offer vast, efficient pools of high-quality creative talent. The report also notes that historically, the approach to digital transformation has been inconsistent, but the COVID-19 pandemic has permanently accelerated the demand. Finally, the report notes an increase in consolidator activity for public sector specialists.