Facebook has a new rival: Amazon
This year the two companies have occupied the tech industrys top ranks, and they have increasingly intruded on each others turf But on Thursday, Facebook found Amazons fastgrowing online advertising officially risky
This year the two companies have occupied the tech industry's top ranks, and they have increasingly intruded on each other's turf. But on Thursday, Facebook found Amazon's fast-growing online advertising officially risky.
On Thursday, Facebook said in its annual 10K filing with the Securities and Exchange Commission, "We compete with Apple in messaging, Google and YouTube in advertising and video, Tencent in messaging and social media, and Amazon in advertising,”
Amazon name has appeared in one of Facebook's regulatory filings for the first time, and it emphasizes the growing importance of Amazon in an online ad market long dominated by Google and Facebook.
Though Amazon does not directly report its online ad sales, the firm's "other" revenue, which mostly includes of ad sales, surged 95% year-over-year ka8in the fourth quarter, to $3.4 billion.
According to eMarketer, in 2019, Amazon's share of the online digital ad market is anticipated to grow to 2.8% up from 2.1% last year. This year Google is expected to assert 31.3% of the global digital ad market, whereas Facebook is expected to stay in the second position with 20.5% share o the market.
The advertising business is supposed to be the most instant clash between Facebook and Amazon, but it's unlikely to be the last. Facebook's video streaming service Watch is one of the firm's most important initiatives, pitting Facebook against other intruded video streaming players like YouTube, Netflix and Amazon Prime.
Earlier this week during the Facebook earnings call, CEO Mark Zuckerberg mentioned a new effort to turn the Instagram app into a platform for e-commerce. If Zuckerberg has his way, soon Facebook's name will appear on Amazon's retail rivals list.