Big Tech pulls back on ad investment as revenues soar

Analysis of advertising investment trends among large digital media companies.

Big Tech ad investment appears to be decelerating, with a cluster of technology giants spending less on advertising in 2023, analysis by WARC Media has found.

In 2022, investment by just eight technology platforms – Alibaba, Alphabet, Amazon, Baidu, Meta, Microsoft, Netflix and Tencent – totalled $52.5bn, accounting for 5.7% of all ad spend globally that year.

The spike in investment by companies – among the prime beneficiaries of rising digital advertising budgets – was documented in a Global Ad Trendsreport in 2022. The report found that investment by Big Tech brands was growing faster (+49.4%) than almost all...

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