META ADVERTISING RESELLER REVENUE
Threads turns one with 175 million users. What’s driving the growth?
Meta’s Threads, launched July 5, 2023, by Mark Zuckerberg, hits 175 million monthly users, challenging Elon Musk’s X. Despite X's growth, Threads steadily climbs. It tested the ActivityPub protocol, launched an API, started a fact-checking program, posts appear on Mastodon. Instagram promotion boosts users amid political content policy criticism.
EU accuses Meta of breaking digital rules with paid ad-free option
Meta introduced a no-ads subscription service for Facebook and Instagram in Europe last November. The company stated that users who agree to tracking receive a free service supported by advertising revenue, while those who opt out can choose to pay to keep their data private.
Meta says it may block news from Facebook in Australia
Meta is considering blocking news content in Australia over licensing fees. The company awaits government decisions on fee regulations for tech giants, following similar actions in Canada. Agreements with Australian media may not be renewed, potentially impacting job cuts. Concerns arise over fraudulent ads and content moderation challenges within Meta.
Govt, digital news publishers discuss revenue sharing with big tech companies
The DNPA had petitioned the government to evolve a revenue sharing mechanism with big technology companies such as Google and Meta that aggregate and distribute content created by others and monetise the internet traffic generated in the process.
New York lawmakers pass measure to protect youths on social media
New York state lawmakers passed legislation to protect children online by restricting social media platforms from exposing 'addictive' content to users under 18 without parental consent.
Meta's WhatsApp launches new AI tools for businesses
Meta launches first AI-driven ad targeting program on WhatsApp to boost revenue. CEO Mark Zuckerberg unveils tools for businesses at a Brazil conference, shifting WhatsApp's stance on targeted advertising and enhancing customer engagement.
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Australia should force Meta to pay for news, News Corp executive says
Meta could block news reposting if Australia enforces the 2021 law, similar to actions taken in Canada. Academics note increased misinformation spread in Canada since 2023 due to similar laws and reduced news promotion by Meta.
TV broadcasters hope ad revenues to bounce back in FY25, expect flat or degrowth in FY24
Top broadcasters like Star India, Sony Pictures Networks India, Zee Entertainment, and Sun TV Network saw ad revenue remaining flat or shrunk in FY24 due to the exit of new-age advertising and the shift of ad dollars to digital due to free cricket streaming by JioCinema and Disney+ Hotstar.
The great internet ad scam: Trusting the efficacy of online ad spend is irrational — it’s a bubble waiting to pop
What if all this spending is based on misconceptions about personal behaviour and the illusion of precision that these platforms offer? From an advertiser's perspective, the more funds that go into creating compelling content and targeting the right potential buyers, the better. Everything else is a waste. But reality is different.
Rumble sues Google over digital advertising practices
The suit alleges Google has monopolized the ad stack "by buying companies up and down the chain, concurrently representing both ad buyers and sellers, while also running the exchange that connects those parties."
Tech platforms make pitch for ad deals as TikTok is roiled by politics
TikTok is expected to generate $8.66 billion in U.S. ad revenue this year according to an estimate from research firm Emarketer. While it is a fraction of the size of Google and Meta, TikTok kicked off the short-form video craze and prompted rivals to build similar features.
Google trial wraps up as judge weighs landmark US antitrust claims
US District Judge Amit Mehta in Washington for hours grilled both sides with questions, probing whether competitive platforms such as ByteDance's TikTok and Meta's Facebook and Instagram are competitive substitutes for search advertising dollars.
Snap beats first-quarter expectations, shares jump 25%
Snap exceeded revenue and user growth expectations, with shares spiking 25%. Improved ad system and user interaction drove Q1 revenue to $1.2 billion. Daily Snapchat users increased to 422 million, and Snap introduced a TikTok-like feature, preparing for potential TikTok ban.
Meta reports surge in profit but company's increased spends spook investors
Meta's Q1 profit surged, beating estimates, yet stock slumped post higher expense forecast. Zuckerberg emphasizes long-term investments and positive Meta AI feedback.
Meta shares sink on higher AI spending, light revenue forecast
Shares of the Facebook and Instagram parent dropped about 15% in extended trade following the report, its market capitalization plunging to about $1 trillion.
Meta Platforms must face advertisers' class action, US appeals court says
Advertisers said the metric used measured the number social media accounts, not the lower number of actual people, and inflated the number of potential viewers by as much as 400%. The court also decertified a separate class seeking injunctive relief, meaning the advertisers cannot sue as a group, because it wasn't clear that the main plaintiff had legal standing to sue.
Snap Camera India revenue grows 20% to Rs 79 cr in FY23
Snap Camera India, the local unit of social networking and messaging platform Snapchat's US-based parent company Snap Inc, has reported a 20% increase in revenue to ₹79 crore for 2022-23, compared to ₹65.7 crore in the previous fiscal.
Snap to invest more to continue conversation with young India: Snap India MD Pulkit Trivedi
In a letter to its shareholders, Snap had said it would shift more of its focus during the year to expanding Snapchat’s user base and investing in markets where it makes the most money, including North America and Europe. However, as per Trivedi, the Evan Spiegel-led company remains bullish on the India market.
Pinterest's weak forecast signals intense competition for ad dollars
Global monthly active users (MAUs) on Pinterest, which lets users create online pinboards, rose by 11% to 498 million in the fourth quarter compared with estimates of 484.5 million.
Snap misses revenue estimate, shares plunge 30%
Meta's advertising sales surged 25% in the December quarter. Google's ad business grew 11% as ad sales from YouTube increased 16% in the same period.
Facebook parent Meta declares first dividend, shares soar
The social media giant is the first of its generation of internet juggernauts to issue a dividend, a milestone for a tech sector that has been dominated by the same handful of companies for well over a decade.
Meta posts sharp profit, revenue increase in Q4 thanks to cost cuts and advertising rebound
Meta Platforms Inc. tripled its profit to $14 billion, or $5.33 per share, in Q4 2023, up from $4.65 billion, or $1.76 per share, a year earlier. Revenue grew 25% to $40.11 billion from $32.17 billion. Monthly active users on Meta's apps reached 3.98 billion, up 6% from 2022. Meta is forecasting Q1 2024 revenue of $34.5 billion to $37 billion, above expectations. It had 67,317 employees as of Dec. 31, 2023, a decrease of 22% year-over-year.
Alphabet's search revenue disappoints in fourth quarter
Alphabet, Google's parent company, on Tuesday reported search revenue and a profit margin for its latest quarter that fell short of Wall Street's expectations, in a sign that growth in its flagship business and recent layoffs, intended to cut costs, were not enough to offset its growing investment in artificial intelligence.
KKR’s big bet on BookMyShow; Free Fire Max tops esports sweepstakes
Private equity fund KKR is in advanced talks to pick up a significant minority stake in online ticket-booking platform BookMyShow. This and more in today’s ETtech Morning Dispatch.
Tech giants' digital ad revenue surges 16% to Rs 55,000 crore in FY23
Google and Meta, the top two platforms, reported combined ad revenues of Rs 46,348 crore in FY23, marking a 13% rise from Rs 41,115 crore in FY22. The figure topped ad revenues of the entire Indian TV broadcasting industry.
Amazon, Flipkart generate Rs 8,705 crore ad revenue in FY23
In FY23, Amazon Seller Services, the marketplace arm of Amazon, recorded 29% growth in ad revenue at Rs 5,380 crore, according to the RoC filings sourced from business intelligence platform Tofler. For Flipkart Internet, the marketplace arm of Flipkart, revenue from this segment rose 60% to Rs 3,325 crore.
Meta India’s gross ad revenue swells 13% to Rs 18,300 crore in FY23
Meta's India arm earns ad revenue by selling ad inventory on Facebook, Instagram, and Messenger. Along with Google, Meta has been one of the biggest beneficiaries of the shift in ad spending from traditional platforms to digital.
Meta India's gross ad revenue swells 13% to ₹18.3k cr in FY23
Facebook India Online Services, the Indian arm of Meta, reported a 13% growth in gross ad revenue to ₹18,308 crore for the fiscal year ending March 2023. The company changed its operating model from being a reseller to a reseller and operating license model. Under the new arrangement, the company compensates Meta USA with royalty payments and infrastructure charges. Facebook India's net profit for FY23 increased by 19% to ₹352 crore, while revenue increased by 20% to ₹2,776 crore.
ETtech Explainer: With X aiming to charge a fee from all users, are the days of free social media over?
Tough global macroeconomic conditions and plummeting advertisement revenues are forcing major social media platforms to recalibrate their strategies and put a price on their services.
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