2022 was not Meta’s year. 2023 won’t be either. The company formerly known as Facebook spent billions of dollars building out its metaverse dreams this year, only to face online ridicule and massive layoffs.
Meta’s revenue loss is a reflection of social media advertising struggles everywhere. As privacy and data collection face an uncertain future, advertisers are wary of social platforms.
Chart to heart: The next few months will be challenging for advertising, but not all areas will be affected the same way. CTV and retail media are in great shape. Social media is less so. And across the board, challenges related to privacy and the economy linger.
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