Meta and TikTok vie over ad dollars at NewFronts with new formats … – Insider Intelligence

Category: Internet Marketing

The news: At the IAB NewFronts, Meta and TikTok went head to head in competing for ad dollars.

Why it matters: Both rivals are at a major inflection point, with a potential TikTok ban looming, while Meta faces concerns over lagging innovation after slow Q1 growth.

Metas newness:

TikToks pitch:

Our take: TikToks announcements are partner-heavy. Clearly, prospective advertisers are not being scared by the prospect of a US TikTok banperhaps because nearly half of US voters oppose such a move, partners view it as unlikely to come to fruition, despite TikTok bans spreading worldwide.

The final word: We expect digital ad spending to increase 9.5% this year (globally) and social media ad spending to grow 3.4% (US only). Given the restricted growth potential, Meta and TikTok are fiercely competing to capture a larger market share.

See the original post here:
Meta and TikTok vie over ad dollars at NewFronts with new formats ... - Insider Intelligence

Related Posts
May 8th, 2023
No comments yet

Comments are closed.