Advertising
Global Mergers, Local Ripples: Consolidations reshape India's ad land as clients seek 'single-window' partners
LinkedIn Ads: Revenue up by 10.1 percent; valuation at 12.5 billion USD
Meanwhile, since Elon Musk took over X (Twitter) in 2022, several advertisers exited X which brought down the valuation of the platform by 71 percent.
Even global advertising groups like WPP’s GroupM, Omnicom and Interpublic Group advised the brands they handle to follow suit. (Representative image by Souvik Banerjee via Unsplash)
LinkedIn, a professional networking site, saw its LinkedIn Ads revenue go up by 10.1 percent year-on-year in 2023, with earnings touching 4 billion USD. Today, LinkedIn is being valued at 12.5 billion USD.
Since the time Elon Musk took over the reins of X in 2022, a host of advertisers exited the platform which brought down the valuation of the platform by 71 percent.
As per Media Radar, the average number of advertisers dropped from 3,900 in May 2022 to 2,900 in September 2022.
Global brands like Audi, General Motors, United Airlines Holdings, General Mills, Mondelez International, Allianz, Pfizer and Balenciaga too took a step back.
Even global advertising groups like WPP’s GroupM, Omnicom and Interpublic Group advised the brands they handle to follow suit.
As per a media report, X's internal revenue projections for the final quarter of 2022 stood at $1.1 billion which decreased from $1.4 billion.
SPOTLIGHT
As India eyes global leadership in media, entertainment and gaming, Storyboard18's Digital Entertainment Summit, set to take place on June 27 in the capital, will spotlight the bold strategies, policy pathways and creative innovations shaping the future of the industry.
Read MoreIN PHOTOS: At Global Pioneers Summit, visionaries chart the future of business and creativity
From the chiefs of Nestle, Diageo, Colgate, PepsiCo, Zetwerk and CRED to AI visionaries, marketing mavens, top creators, ad legends and leading global agencies' CEOs, the brightest minds converged at the Storyboard18 Global Pioneers Summit for an action-packed day of meaningful dialogues on creativity, commerce and culture.