High inflation and fears of a looming recession have caused a slowdown in digital ad spending. The revenue growth of Google’s parent company, Alphabet (NASDAQ:GOOGL) (GOOG), decelerated in the third quarter, while Meta Platforms (NASDAQ:META) reported a decline in its revenue for the second consecutive quarter. This duopoly is not only getting impacted by weak ad spending but also by growing competition from tech, retail, and streaming companies that are gradually eating into their market share.
Meta and Google Facing Intense Competition
As per Axios, which cited Insider Intelligence data, Google and Meta are estimated to capture 28.8% and 19.6% share of the U.S. digital ad revenue market this…
