Meta Platforms Shares Rise Following Growth Forecast
Shares of Meta Platforms (NASDAQ: FB) increased by 3.6% on Monday after GroupM announced a significant growth forecast for the global digital advertising market.
Key Market Insights
According to GroupM, global ad spending, excluding political ads, is projected to soar 22.5% in 2021, reaching $766 billion, up from a previous estimate of 19.2%. The firm anticipates a 9.7% growth in 2022 and a $1 trillion market by 2025. Furthermore, digital ad spending is expected to rise by 30.5% this year and comprise nearly two-thirds of total ad spend, with Meta, along with Alphabet and Amazon, potentially capturing 90% of this segment.
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