Google and Meta’s ad empires are facing challenges

The ad empires of Alphabet’s Google and Meta’s Facebook are being challenged by a growing number of competitors ( archive ). Google and Facebook are expected to make $300 billion in ad revenue this year, but its big four rivals are expected to make nearly a quarter of that. As digital advertising transforms, rivals of the two giants are more likely to benefit from the transformation. One of the most notable rookies is TikTok, whose short-video service ByteDance has siphoned so much advertising dollars from Meta-owned Facebook and Instagram over the past five years that both services are learning from TikTok. Amazon is expected to account for nearly 7% of global ad revenue, up from less than 1% six years ago. The e-commerce giant disclosed in February that advertising sales in 2021 will be $31 billion, with advertising and retail and cloud computing becoming Amazon’s three major revenue sources. Microsoft’s advertising revenue this year is expected to account for more than 2% of the world’s advertising revenue, and search engine Bing and professional social platform LinkedIn have contributed a lot of advertising revenue to the software giant. Apple, which once slammed intrusive ads, is now also selling a lot of ads.

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