- Amazon.com Inc’s (NASDAQ: AMZN) now seeks to snatch Facebook Inc’s (NASDAQ: FB) advertisers after stealing Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) Google’s share, Bloomberg reports.
- Apple Inc’s (NASDAQ: AAPL) June privacy changes on iPhones have made Facebook advertising less effective. Apple prompted some brands to seek alternatives to advertising on Facebook and its Instagram unit.
- Amazon, with an estimated 153 million U.S. Prime subscribers, has become the obvious alternative.
- Over 40% of New York marketing agency Belardi Wong’s June roster reported a decline in their Facebook ad performance, sending them rushing for other options. Wong saw increased clients branch out to marketplaces like Amazon.
- Vanity Planet, a Belardi Wong client that sells home spa products, is reducing its Facebook ad budget by 22% this year, partly due to the privacy changes and shifting half of that money to Amazon.
- Amazon’s “other” category, mainly advertising revenue, grew 87.5% in Q2 versus Facebook’s 56% growth.
- Lesser tracking preferences by iPhone users makes it more challenging for Facebook and other online companies to tailor their ads to help business find their most promising customers.
- Shinesty.com, a direct-to-consumer brand, is increasing its presence on Amazon this year while keeping its Facebook marketing budget flat.
- Price action: FB shares closed lower by 0.52% at $361.61 on the last check Monday.
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