Google has faced three EU fines in two years. Facebook is under scrutiny for its data collection practices, in addition to questions about its cryptocurrency, Libra. Yet the tech giants’ combined share of the UK digital advertising market will continue to grow, surpassing even Q1 projections.
According to the latest forecast, Google and Facebook (including Instagram) will net a combined 68.5% of the £14.56 billion ($19.41 billion) UK digital ad market this year. That’s higher than the 63.3% we projected in Q1. Based on the current forecast, the duopoly’s share will surpass 70% by 2021.
“Despite economic uncertainty due to Brexit, Google’s and Facebook’s ad revenues continue to grow at the expense of smaller players,” eMarketer forecasting director Shelleen Shum said. “When budgets are tight, advertisers tend to favor tried-and-true platforms that, on average, provide better measurement statistics and assurances against fraud.”
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