The article discusses the recent Q3 results from several major tech companies, including Facebook, Google, and Amazon, and the impact on advertising revenues. Facebook, also known as Meta, reported a 3.7% year-on-year drop in ad revenues, while Google reported a drop in YouTube ad revenues, and a slowdown in advertising revenue growth. Amazon, on the other hand, saw a 25% year-on-year increase in ad revenues in Q3. The article also mentions that many of these companies have announced layoffs recently, and performance marketers are questioning whether this will lead to a drop in ad prices.
Our founder and CEO, Gustav Westman comments ‘Google Search, which continues to grow, is a key revenue component for Alphabet and should be taken advantage of as the company’s vast scale in terms of reach still makes it one of the most useful platforms for advertising. If marketers can prove return on their investments here, and consistently show increased awareness and increased engagement of their brand – as they will undoubtedly be under more pressure to do – then they should continue to take advantage of the scale offered by tech giants’.