THE WHAT? Alphabet Inc’s Google and Facebook parent company Meta are no longer ranking in the majority of US digital advertising dollars for the first time in a decade, according to estimates from research firm Insider Intelligence Inc.
THE DETAILS The two largest players are expected to continue to decline for years to come, according to industry insiders.
The companies accounted for 48.4 percent of U.S. digital ad-spend in 2022, the first time their dual U.S. market share has dropped under 50 percent since 2014. This is expected to fall to 44.9 percent in 2023.
While the ad businesses of both companies are continuing to grow, according to Insider data it is at a slower rate than the rest of the U.S digital-ad market.
Both Google and Meta reportedly faced hurdles in 2022 as people spent less time online than when the pandemic first hit.
THE WHY? While Google and Meta falter, Amazon, ByteDance’s TikTok and streaming service such as Netflix are continuing to increase their foothold.
According to Insider, TikTok’s hold on the digital ad market more than doubled in 2022, while Amazon gained market share due to its ad business being able to target users by their purchase and browsing history.
The post Google and Meta lose advertising prowess as TikTok, Netflix and Amazon continue to dominate appeared first on Global Cosmetics News.