Roundup: Wil Anderson, social media ads, 3PM Pick Up axed – Mediaweek
Meta, Twitter trolls, ABC wage negotiations, Michael Miller, Seven, The Jeffrey Dahmer Story
Business of Media
Who killed the social media ad boom?
As the blame game began in Silicon Valley, Meta founder Mark Zuckerberg and Alphabet chief executive Sundar Pichai used earnings calls last week to point to the unmistakable storm clouds gathering over the global economy, report The Financial Times’ Alex Barker, Alistair Gray, and Tim Bradshaw.
But the most striking signs of weakness have concentrated on social media platforms.
US advertisers are on track to spend $US65.3 billion ($101.8 billion) on networks such as Facebook, Snap and Twitter this year, a year-on-year increase of just 3.6 per cent. That is about 10 times slower than last year, according to estimates from market researcher eMarketer.
The social media slowdown is such that its forecast growth rate for this year is almost the same as traditional media such as television and radio, whose audiences have been shrinking for…
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