YouTube is the top trusted social platform for finding and purchasing products

230.6 M 

As per the survey, in the U.S, about two-thirds of the population say YouTube is the top trusted social platform for finding and purchasing products. Then followed by Facebook with 51% then by Instagram at 45%. eMarketer predicts that YouTube will have 230.6 million monthly US users by end of 2022, Facebook with 178.3 million and Instagram with 128.3 million. 

18% 

In Q2, Amazon’s advertising services revenue ramp up by 18% YOY to $8.76 billion. Amazon's net sales increased 7% YoY to $121.2 billion exceeding the predictions, though its e-commerce business remained at risk. As per new Standard Media Index (SMI) data, Amazon accounted for 50% of all retail media ad spending this year. Ad spending on the category in total grew 31% YoY to reach its highest levels in the five years. 

30% 

As per the new update, Walmart has added API partners to its Walmart Connect retail media network. Partnerships are already yielding value for advertisers on Walmart Connect and seen a return on ad spend (ROAS) 11% higher than its target and an 83% increase in sales quarter-over-quarter. Walmart in May revealed that it's global advertising business increased 30% YOY in its Q1 2023 earning period. 

1 B 

Spotify has seen a growth in advertising of 31% from YOY to 365 million dollars as the audio-streaming company broadened its reach. Its total monthly active users increased by 19% to 433 million. Spotify ended the quarter with 4.4 million podcasts, which is up from 4 million in the prior three-month period. Spotify's aim is to hit 1 billion users by 2030. 

9% 

Pinterest has reported the lowest revenue growth in two years. The new Chief Executive Bill Ready said he was going to emphasize profitability as he puts his imprint on the company and has taken 9% of the company. The company has seen a revenue growth of 9% to $666 million for the quarter that ended in June, all of its revenue still comes from digital advertising.