Facebook and Google dominate the online advertising market.
Online media companies Google and Facebook now dominate global ad spend as they attracted 20% of global advertising revenue in 2016. According to reports by the CNBC these statistics have nearly doubled since 2012.
Data and analysis agency, Zenith, released their top 30 Media Owners report which indicated the shift to online advertising, the report highlights that the increase in ad spend has seen the rise of online advertising, which has now overtaken television to become the worlds largest ad platform.
The report also revealed that Google and Facebook dominate the market with Alphabet, Google’s parent company at number one, taking $79.4 billion, followed by Facebook, which earned $26.9 billion in advertising revenue. Twitter is the fastest-growing media owner, increasing ad revenue by 734% between 2012 and 2016 and is 30th on the list.
According to reports by the Guardian, Internet-only media companies are now taking over the largest sectors of the online advertising market, while traditional news publishers have fallen far behind and been forced to make cutbacks.
Besides Alphabet and Google there are five other pure internet media owners in the ranking: Baidu, Microsoft, Yahoo, Verizon and Twitter. Between them, the seven digital platforms generated $132.8bn of internet ad revenues in 2016.
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