The world of advertising à la Mad Men is no more. Consumers’ eyes are drifting from newspapers and televisions to computers and smartphones, and the world’s global advertising dollars are following them. But the overwhelming beneficiaries of this monumental shift are Google and Facebook.
The two companies just by themselves already draw in more than half of all online advertising revenue worldwide, as we can see in this chart from Statista. And now, they’re starting to account for a significant chunk of all ad sales – online or off.
Google and Facebook’s dominance has affected not only older, traditional media companies, but also newer digital ones. Even companies with popular services such as Snap and Twitter are struggling to keep hold of their pieces of the advertising pie.
- Mike Nudelman/Business Insider