Google Ad Revenue Up 10% - the Biggest Ad Revenue Quarter Ever

19%

Meta Platforms reported a 19% revenue increase YoY in Q3, reaching $40.59 billion, with ad impressions up 7% and average ad prices rising 11%. The company’s AI tools, nearing 500 million monthly active users, are boosting advertising effectiveness, with businesses using the Image Generator seeing a 7% increase in conversions. Looking ahead, Meta anticipates Q4 revenue between $45 billion and $48 billion as it continues to invest in AI and enhance user experiences.

34%

Netflix aims to scale its ad business, which saw a 34% increase in ad membership quarter-over-quarter in Q3 2024. Next month, it will begin testing its in-house ad-tech platform in Canada, with a broader rollout planned for 2025. Additionally, Netflix is expanding programmatic buying capabilities through partnerships with The Trade Desk and Google’s DV 360 in the U.S. and LATAM, setting the stage for a global launch next year.

10%

Google's ad revenue rose 10% YoY to $65.85 billion in Q3, led by search at $49.39 billion, and YouTube growing 12% to $8.92 billion. Cloud services also performed well as Google beat analyst expectations, despite facing major antitrust challenges over its search and ad-tech dominance. Meanwhile, AI investments, including its new generative AI search tool, are gaining traction, with early results showing improved user satisfaction and advertiser success, such as an Audi campaign that saw an 80% website visit increase.

15%

Snap Inc. reported a 15% revenue increase YoY in Q3, reaching $1.37 billion, mainly due to growth in direct-response ads and Snapchat+ subscriptions. Daily active users rose 9% to 443 million, while advertiser count doubled. CEO Evan Spiegel emphasizes the role of AR and AI investments for future growth, with Q4 revenue expected to increase by 11% to 15%.

69%

GroupM's focus on women’s sports has driven impressive ad effectiveness, with Adidas seeing a remarkable 69% increase in ad performance for campaigns featuring women athletes. This boost highlights the strong connection between brand visibility in women’s sports and consumer engagement, making it not only an equitable investment but a highly impactful one for advertisers aiming to reach passionate audiences.

13.8

U.S. e-commerce grocery sales grew 13.8% year-over-year in Q3 2024, hitting $27.4 billion, with Walmart and Target gaining ground. Mass market retailers captured 52.7% of e-commerce grocery sales, up 390 basis points, while Amazon's ship-to-home share dropped slightly to 50.1%

90%

L'Oréal's Gen Z-focused investments on Pinterest are paying off, with Maybelline's engagement rising 90% year-over-year and nearly half of its Pinterest audience from Gen Z. The brand has seen a 32% increase in searches for "Maybelline," with 50% from this younger demographic, as it leverages Pinterest's new Collages Remix feature to drive high engagement and shoppable, user-generated content.