Advertisers are declining to join the backlash against Facebook, according to Sir Martin Sorrell, despite a year of scandal at the social networking giant. Facebook still enjoys a near-duopoly over digital advertising alongside Google, even though investors have wiped nearly a third off the company’s value this year. Instagram’s ad revenues grew at 110% this year, to $9bn, according to research company eMarketer. By 2020, it will still be growing at an annual rate of 44%, more than double the rate of Facebook, with ad revenues forecast at $21bn. “To some extent you are driven by circumstances or serendipity, structural changes in the traditional ad business that gives you significant opportunity.

Source: The Guardian December 26, 2018 13:32 UTC