Zuckerberg has pointed to how formidable TikTok has been as a foe. TikTok and Reels present a conundrum.įor more than a year, Mr. That’s a huge problem for Meta in the long term, especially if more advertisers switch to Google search ads. That means Google’s search ads tend to appear in more places, taking in more data that can be useful for advertisers. Wehner also pointed to Google’s deal with Apple to be the default search engine for Apple’s Safari browser. Wehner said it was likely that Google had “far more third-party data for measurement and optimization purposes” than Meta’s ad platform. Unlike Meta, Google is not heavily dependent on Apple for user data. That was the very same category that tripped up Meta in the last three months of 2021. In Google’s earnings call this week, the company reported record sales, particularly in its e-commerce search advertising. On Wednesday, David Wehner, Meta’s chief financial officer, noted that as Apple’s changes have given advertisers less visibility into user behaviors, many have started shifting their ad budgets to other platforms. Meta’s troubles have been its competitors’ good fortune. Google is stealing online advertising share. Tough Times Ahead : After years of financial strength, the company is now grappling with upheaval in the global economy, a blow to its advertising business and a Federal Trade Commission lawsuit.2: In June, Sheryl Sandberg, the company’s chief financing officer announced she would step down from Meta, depriving Mr. But the pivot is causing internal disruption and uncertainty. Zuckerberg is setting a relentless pace as he leads the company into the next phase. A New Name: In 2021, Mark Zuckerberg announced that Facebook would change its name to Meta, as part of a wider strategy shift toward the so-called metaverse that aims at introducing people to shared virtual worlds.That means less user data for Facebook, which makes targeting ads - one of the company’s main ways of making money - more difficult.
Now that Facebook and other apps must explicitly ask people for permission to track their behavior, many users have opted out. Those privacy moves have now hurt Meta’s business and are likely to continue doing so.
#META PRIME UPDATE#
Last spring, Apple introduced an “ App Tracking Transparency” update to its mobile operating system, essentially giving iPhone owners the choice as to whether they would let apps like Facebook monitor their online activities. Investors are likely to next scrutinize whether Meta’s other apps, such as Instagram, might begin to hit their top on user growth. Meta’s executives have pointed to other growth opportunities, like turning on the money faucet at WhatsApp, the messaging service that has yet to generate substantial revenue. Meta’s quarterly user growth rate was also the slowest it has been in at least three years. The dip signaled that the core app may have reached its peak. That’s the first such decline for the company in its 18-year history, during which time it had practically been defined by its ability to bring in more new users.
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