While Facebook and Google are continuing their dominance in digital ad market, the trio of Snap, Pinterest and Amazon have shown potential to finish the dominance. The third quarter revenues show that Pinterest, Snap and Amazon have shown better growth rate than the industry giants, which gives brands of all sizes more choices and diverse options for their marketing campaigns.
Facebook has recorded a 28% revenue growth in this quarter and have continued to showcase below 30% growth for the third straight quarter and on the other hand Google got only 17% growth. While researchers believe that these 2 giants will continue to dominate the market, 2019 will be the first year when their combined share in US digital advertising will witness a drop.
Snap showcased a total of 50% growth in the third quarter to a total of $446.2 million. Their shares have also rose to 175% as the investors are now realizing the potential of the image and video sharing platform. The 50% growth of Snap was highest in the whole market segment.
Although Amazon web services reported a weak 3rd quarter and also missed on the estimated revenue and growth, the ‘other’ businesses of Amazon which mainly consist of their ad services reported a 44% growth which is nearly double the growth of its parent company.
Pinterest showcased a better growth rate than Amazon but was significantly behind Snap. Despite the fact that they missed the revenue mark that was estimated by them and their shares dropped down to 17%. They still managed to reach 47% growth rate in terms of sale.
While companies like Pinterest, Snap and Amazon have shown great potential, twitter is still lagging behind in the scene as their third quarter sales increased by a mere 8% at $702 million. This number is significantly lower than their estimate which was at $756 million.