For the first time since 2014, Meta and Google are on track to represent less than half of US digital advertising spend, grabbing 48.4% of the market this year, per Axios.
The space has grown especially crowded, partly out of necessity, as Apple’s privacy changes have made it harder for companies to track activity across apps and target ads.
- Though billed as a push for privacy, Apple has seemingly used the move as an opportunity to build out its own ad network across its apps.
Other platforms and retailers with reliable first-party data have also launched their own ad services, including Uber, 7-11, Walmart, CVS, Chewy, Home Depot, Dollar Tree, Marriott, and more, further crowding the market.
There’s also TikTok, expected to earn $8.6B in ad revenue in 2024 — and Amazon, which has done what Amazon does best, building a $30B+ advertising business on top of its retail and media offerings.
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