Once dominating the digital advertising space, Google and Meta Platform’s ad supremacy is slowing down.
- Together Google and Facebook owner Meta Platforms are expected to bring in less than half of U.S. digital advertising sales for the first time since 2014.
- Google will bring in 28.8% and Meta 19.6% bringing the duo at 48.4% of all U.S. digital ad revenue this year.
- Amazon is among the company’s biggest threats, with an annual ad business of $30 billion.
- Amazon is expected to bring 12.7% of all U.S. digital ad dollars by 2024, while Meta will do 17.9%.
Why it’s news
Google and Facebook’s Meta have dominated the ad space for years as the couple together has brought in over half of America’s digital ad revenue.
Now, as digital advertising becomes more accessible and other platforms are rising in popularity, Google and Meta’s ad dominance is slowing down.
The two companies hit a peak in 2017, bringing in 54.7% of all digital ad sales, and today the duo is falling short, bringing in only 48.4%.
With the rise of TikTok and Amazon, more ads are being placed on these platforms, giving Google and Meta competition.
The thing about TikTok is the platform has paid ads, but they are displayed in an interesting video that makes it feel like it’s not an ad, and many people are going to the app to search for products taking away from Google.
Google and Meta are staying on board with the popularity surrounding videos and using related platforms to remain relevant. Google relies on Youtube as Meta does with Instagram to stay in the loop.
While the two companies aren’t dominating the ad space as much as they once did, they are still the top two leaders and aren’t going down without a fight.