Alphabet and Meta report falling Q4 ad revenues as digital ad market remains subdued

Celeste Huang

Ad revenue growth continues to slow across major big tech and media in Q4 2022.

Big tech companies saw advertising revenue fall short in Q4 2022, as Meta and Alphabet both recorded year-on-year decreases while Snapchat remained conspicuously flat (+0.1%). Amazon and Spotify maintained their momentum and continued to see double-digit growth, although the rate has also slowed down. 

Google advertising, which includes Search and YouTube, came in at $59bn in the last quarter of 2022, down from $61bn in 2021. YouTube suffered another year-on-year ad revenue decline, collecting $7.9bn – down 8% from the year prior. Contrary to its growth performance in Q3, Google Searchsaw a 2%...

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