Amazon is the latest threat to Facebook as ad targeting suffers
Publishing timestamp: 2023-02-10 12:37:52
Summary
Brands are shifting their ad budgets away from Facebook and towards Amazon due to Facebook's diminished targeting capabilities and Amazon's increased advertising offerings. Amazon's ad business has grown 19% in the fourth quarter, while Facebook parent Meta reported its third straight drop in revenue. Brands are finding more value in Amazon and Google due to their ability to target customers who are showing intent by searching for particular items. Amazon has become the third largest digital ad company, and is expected to take more share from Google and Facebook in 2023.
Sentiment: POSITIVE
Tickers: META, AMZN, GOOGL, AAPL,
Keywords: meta platforms inc, technology, alphabet class a, business news, social media, internet, amazon.com inc, mobile, retail industry, apple inc, advertising,
Source: https://www.cnbc.com/2023/02/10/amazon-is-the-latest-threat-to-facebook-as-ad-targeting-suffers.html