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Tech giants expect higher advertising growth in 2022

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Alphabet, Meta and Amazon account for more than half of all advertising spending outside China, says ad agency GroupM

Alphabet, Meta and Amazon account for more than half of all advertising spending outside China, says GroupMThe global advertising industry will notch higher growth this year than previously expected as brands are relying more heavily on search engine and social media companies such as Alphabet’s Google and Meta Platforms to reach customers during the pandemic, according to two ad industry forecasts released on Monday.

New businesses formed during the pandemic needed to advertise to find customers, while others likely maintained ad spending to stay in front of consumers’ minds, said Brian Wieser, global president of business intelligence at ad agency GroupM. It also comes as Alphabet and Meta, the company formerly known as Facebook, both face antitrust investigations in the US and Europe.

 

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