The strong showing by Alphabet and Meta in their recent quarterly earnings reports is a signal that the ad market rebound is underway.
Both companies saw strong growth in their advertising revenue, which suggests that businesses are starting to spend more money on advertising again.
Alphabet’s advertising revenue grew by 9.5% in the third quarter of 2023, to $57.3 billion.
This was ahead of analyst expectations and marked Alphabet’s first quarter of double-digit advertising revenue growth since the fourth quarter of 2021.
Meta’s advertising revenue grew by 11% in the third quarter of 2023, to $27.7 billion. This was also ahead of analyst expectations and marked Meta’s strongest quarter of advertising revenue growth since the fourth quarter of 2021.
The strong growth in advertising revenue at Alphabet and Meta is a positive sign for the overall ad market.
It suggests that businesses are starting to spend more money on advertising again, which could boost the economies of many countries.
There are a number of factors that are contributing to the rebound in the ad market. One factor is the reopening of economies around the world. As economies reopen, businesses are starting to spend more money on advertising to reach potential customers.
Another factor that is contributing to the rebound in the ad market is the growth of digital advertising. Digital advertising is becoming increasingly popular, as businesses are shifting their advertising budgets from traditional media such as television and print to digital media such as search engines and social media.
The rebound in the ad market is good news for businesses and consumers alike. For businesses, it means that they can reach more potential customers with their advertising.
For consumers, it means that they will see more relevant advertising and be more likely to find the products and services that they are looking for.