Meta and Google continue to monopolize the US digital advertising market, but their share has been diminishing since 2015.
According to eMarketer, in 2015, Google dominated the digital ad market share with nearly 40% and Facebook had just over 10%.
The reach of Facebook and Google ads fell from 54.7% of the US digital market in 2017 and is projected to be 43.9% by 2024. The projection for 2023 shows them losing market share to Amazon which has grown as well as smaller growth by TikTok.
Google and Facebook’s parent Meta are predicted to fall to 48.4% this year, the first time they failed to have over half of the US digital ad market share.
Both of their global market share dropped by 1% this year.
Jerry Dischler, head of ads at Google, told the Financial Times that competition reflects an “extremely dynamic ad market”.
Ariel Ben Solomon is the Growth and Strategy manager at Ecomhunt. He is the host of the Ecomhunt Podcast. Can be followed on Twitter at @ArielBenSolomon