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Paid advertising is growing, here's how

meta and Google quarterly figures paint a clear picture of digital advertising: spending is rising and the willingness to click is falling.
© Egypt Business Directory

Meta: 27 percent more

Meta, formerly Facebook, recorded a significant increase in advertising revenue of 27% in the first quarter of 2024. This increase represents a significant improvement on the 4% growth in the same quarter last year. With advertising revenue of $35.6 billion in Q1 2024 compared to $28.1 billion in Q1 2023, this success contributed to a 27% year-on-year increase in Meta's total revenue from $28.6 billion in Q1 2023 to $46.4 billion in Q1 2024.
Google: 14 percent more
The latest report on Google's revenue reveals a pleasing development, particularly in the area of advertising. Google Search recorded an increase of 14% to $46 billion, making a significant contribution to Alphabet's total revenue of $80 billion - a considerable increase of 15% compared to the previous year. Of particular note is the 20% increase in YouTube's advertising revenue to $8bn. These figures underline Google's continued dominance in the digital advertising market.

Cost per click increases

Three insights from Tinuiti's ‘Q1 2024 Digital Ads Benchmark Report’: 1. 13% increase in cost per click (CPC) compared to 9% in Q4 2023 2. 17% increase in Google Search ad spend in Q1 2024 3. slowdown in click growth to 4% compared to 8% in Q4 2023
Create ads with AI

Google has introduced a set of six new AI features for Performance Max campaigns in Google Ads that have the potential to change the marketing game. These features offer advertisers a wide range of ways to optimise their campaigns and achieve their marketing goals more effectively.
Only 20 % accept advertising

The reader survey conducted by Caschy's blog in April 2024 paints a clear picture: interest in video streaming with advertising is declining rapidly. Despite the emergence of ad-financed services such as Amazon Prime Video, the survey results show a clear rejection of this model.