World Business: Facebook’s ad revenue will continue to increase this year. Although the number of brands pulling ad campaigns is increasing amid the coronavirus pandemic.
Increase by 4.9%
Net US digital ad revenues at Facebook will increase by 4.9% this year to $31.43 billion. This is about $4.82 billion, which is less than eMarketer’s predict.
Additionally, more brands are pulling ad spend from Facebook for the month of July in support of #StopHateForProfit.
Failure to make a dent
However, these moves cannot cause in Facebook’s ad business. In fact, the campaign’s potentially could lead to more pressure from consumers in the future. Which is about companies’ ad spending practices.
The value of ad dollars
Many marketers just want to find the best value for their ad dollars. Thus, Facebook’s targeting and broad reach make it a necessary part of their ad buy
Even during a pandemic, the marketers expect the company’s ad revenues to grow almost 5%.
Brands promoting action
Earlier this month, Facebook cover consumers’ growing desire. They making the brands by taking action during the Black Lives Matter protests. For example, making donations or commitments to more diverse hiring practices.
However, Facebook’s controversial stance on US President Donald Trump’s comments about the protests. It has brought ad spending into the conversation for some brands, too.
A massive shift from eMarketer
Meanwhile, its competitors Amazon and Google are also seeing a shift in ad revenue.
Besides, Google will see its U.S. digital ad revenue falls more than 5% this year An estimation that its ad revenue would increase by 13% in 2020.
While Amazon’s ad revenue will continue to increase, its growth is significantly lower than earlier estimates. Amazon’s net US digital ad revenues are forecasted to grow 23.5% to $12.75 billion.
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