Let’s see what this week’s numbers say about online advertising, shall we?
- On this report by eMarketer on UK’s digital ad spending by industry, retail will be the biggest spender on digital ads this year, laying out £5.92 billion ($8.14 billion).
- More very surprising numbers thrown in a report (again by eMarketer) they have lowered their Meta ad revenue forecast by about $16 billion for this year, from $129.16 billion to $112.68 billion. Through 2024, its ad business will bring in billions of dollars less each year than they previously expected. Shocker.
- Tik Tok continues to top the market as teen’s favorite social media platform, according to the latest edition of Piper Sandler’s semi-annual Taking Stock with Teens survey. Almost 4 in 10 (38% share of) US teens surveyed named TikTok their favorite social media platform, up from 33% in the previous survey conducted during the Spring.
- What’s going on with inflation in global media prices? As we continue to navigate 2022, media prices have also inflated faster than expected. According to the latest report from ECI Media Management, global media prices are set to inflate by an average of 5.2% this year, higher than what was predicted at the beginning of the year.