After unprecedented revenue growth last year, digital platforms including Alphabet Inc, Meta Platforms Inc, Snap Inc and Twitter Inc now face a sobering reality as pandemic-driven advertising trends dissipate, according to an analyst report on Thursday.
U.S. digital ad spending surged 38 per cent in 2021 over the previous year. Alphabet, the largest digital advertising platform in the world, posted record revenue of $257 billion that year. "After years of uber-bullishness, we are truly concerned about longer-term growth in digital advertising," wrote Michael Nathanson, an analyst at MoffettNathanson, in the report.
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