Meta Reports Record Q1 Revenue, But Its Plan For The AI Long Game Has Investors Spooked
CEO Mark Zuckerberg cautioned that it will likely take years before Meta’s generative AI products, including Meta AI, are ready for monetization.
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Will The Pretender PMaxes Play Out?; Google Fined For Nonconsensual Web Scrapes
In today’s newsletter: Performance Max has many imitators, but Google’s still ahead of the pack; France’s competition authority fines Google for using news content to train its Bard AI model without their knowledge of consent; and Apollo Global Management offers to acquire Paramount Global for $11 billion.
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Citing Ad Revenue Woes, Meta Will Be ‘Same Size Or Slightly Smaller’ By End Of 2023
Meta reported $27.2 billion in ad revenue in its Q3 earnings report on Wednesday. That represents a 4% drop year-over-year (YoY). Net income for Q3 was $4.4 billion, down 52% YoY. And Meta is projecting another revenue dip for Q4. As a result, the company will implement layoffs and hiring freezes throughout 2023.
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The Advantage Plus Advantage; How Disney’s Kingdom Becomes A Fortress
Here’s today’s AdExchanger.com news round-up… Want it by email? Sign up here. The Blackest Box The name “Meta Advantage+” might confuse you into thinking Facebook has a streaming service. But the company is just following in Google’s footsteps. Google launched Performance Max, a black box within a walled garden, late last year to replace Google Smart […]