"But the facts are here: Wall Street darlings Netflix and Snap saw their valuations drop by about 80% in a few weeks, Meta has seen a 34% decline in its overall reputation since its inception (sorry Mark, the Hawaiian honeymoon is over) and Sundar Pichay seems to be spending most of his time talking about his spoiled Googlers needing to come back down to Earth."
"Sadly, this new phase will likely come at a cost to creative ambition and innovation. As with every recession, companies will look for immediate results and we are certain to see the tried and tested performance marketing take the lion's share of the impressions. Funky formats and executions will (again) take a backseat, while words like profitability and scalability will be on every ad tech sales executive's mind."
Global uncertainty from a pandemic and renewed geopolitical threats is prompting a shift toward safe, familiar strategies and away from risk and innovation. C-suite leaders are prioritizing ways to navigate volatility while capturing immediate business results. Big tech experienced sharp valuation and reputation declines in 2022, with Netflix and Snap losing roughly 80% and Meta seeing a 34% reputation drop, increasing pressure on ad-driven revenues. Heavy advertiser reliance on tech platforms will generate aftershocks across advertising. Marketers are likely to favor proven performance marketing, prioritize profitability and scalability, and deprioritize experimental formats and creative risk.
Read at The Drum
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