Thursday, December 9, 2021

Three Giant Tech Companies Control Half of all Advertisements Outside China

Photo by ThisIsEngineering

The global information and mass media markets have gone through an unforeseen surge during and after the Covid-19 outbreak. Digital marketing grew at an unprecedented scale, and few tech gnats have an astounding share of the market. Outside China, Alphabet, Meta, and Amazon control more than 50% of all advertisements. These companies have also grown tremendously over the past two years. Digital ads are 64.4 percent of all advertising in 2021. The three tech giants mainly dominate in the digital advertisement space. These data come from GroupM, a media buyer's organization. 

At a time when regulators are trying to keep big tech companies in check, these data point towards something else. The global economy is now hugely dependent on tech giants, and they have a monopoly in many segments. Facebook (renamed to Meta) has faced accusations of election manipulation in the past. With such high-scale advertisement capabilities, these tech companies have the power to sway huge sections of the population. The issue was also brought up in a meeting of G7 countries in November. Few tech firms hold extraordinary power in global economics now, and it can become a threat to democracy before people even realize it. 

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