Advertisers are sticking with safe havens Alphabet and Meta Platforms in an uncertain economy, their quarterly results showed, likely helping the tech giants take market share away from smaller digital ad sellers such as Snap Inc.Following a pandemic-led spending bonanza by advertisers who wanted to reach
Advertisers are sticking with safe havens Alphabet and Meta Platforms in an uncertain economy, their quarterly results showed, likely helping the tech giants take market share away from smaller digital ad sellers such as Snap Inc.
"Advertisers are simply going back to platforms they know, like and trust," said Brian Mulberry, a portfolio manager at Zacks Investment Management. The company on Tuesday played up its work in artificial intelligence , saying that helped it improve the relevance of ads shown to users and even automatically generate text that can be used in a brand's ads.
"There's a lot of inertia to staying put with platforms that you're familiar with and have tools that are well-developed for advertisers," said Insider Intelligence principal analyst Debra Aho Williamson.
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