Google and Facebook are locking up nearly all of America’s internet advertising growth and will become even more dominant this year, as advertisers move away from TV and onto the web.
Those are the conclusions of famed tech forecaster Mary Meeker, former Morgan Stanley managing director and currently a partner at venture capital firm Kleiner Perkins Caufield & Byers in Menlo Park.
And Facebook’s ad-revenue growth is accelerating even faster than Google’s, Meeker said in her hotly anticipated 2017 Internet Trends report, released Wednesday morning from the Code 2017 conference in Rancho Palos Verdes in southern California.
The Menlo Park social media firm’s ad revenue skyrocketed 62 percent in 2016 from 2015, compared to Google’s more modest 20 percent growth, while other companies collectively saw only a 9 percent increase, according to Meeker’s report, which ran to a whopping 355 pages.
The revenue domination by Silicon Valley’s two digital-ad giants comes as advertisers around the world move from TV to the internet — Meeker’s report included a graph showing global TV-ad spending rising less than $50 billion from 2010 through last year, while internet-ad spending shot up more than $110 billion.
This year, Meeker projected, internet advertising world-wide will outstrip TV advertising for the first time.
Check back on this developing story.
Published at Wed, 31 May 2017 17:28:26 +0000