Google Q3 Ad Spend Rose 11%, Led By Gains In Search, YouTube
Google’s parent company Alphabet reported third-quarter revenue has risen 15% to $88.27 billion for Q3 2024 compared with the year-ago quarter.
The company reported $84.7 billion in revenue and $23.62 billion in net income in the second quarter of 2024.
Google Advertising rose 10.6% to $65.9 billion versus $59.6 billion in the year-ago quarter, but search remains the largest service contributing to revenue growth, the company said.
Revenue from Google’s search engine rose 12% to $49.4 billion in the third quarter -- slightly higher than analysts’ estimate of $49 billion.
AI supercharges search, the company says, especially with younger users.
The Circle to Search feature is seeing higher engagement from people ages 18 to 34 and expands the ability to identify intent and connect users with advertisers.
Google’s Q3 ad revenue spike, led by search and YouTube gains, spotlights critical trends in digital marketing and campaign strategy. For political agencies, leveraging Google’s reach through AI-optimized search ads and engaging video formats offers unmatched potential to target key demographics. However, this concentration also underscores the need for diverse ad strategies across platforms to maintain competitive fairness. As digital marketing rapidly evolves, agencies must adopt best practices that balance innovation with market diversity to optimize campaign impact and guard against over-reliance on dominant players like Google.
~Political Media