Meta’s ad revenue rose 27% in the first quarter of 2024, a significant improvement over the 4% growth it saw in the same quarter a year ago.
Advertising revenue was $35.6 billion in Q1 2024 compared to $28.1 billion in Q1 2023. This success helped Meta’s total revenue grow 27% year over year from $28.6 billion dollars in the first quarter of 2023 to $46.4 billion in the first quarter of 2024.
“If you look at our two AI-powered end-to-end tools, Advantage+ Shopping and Advantage+ app campaigns, the revenue flowing into them has more than doubled since last year,” said the CEO by Meta, Mark Zuckerberg.
By the numbers. In Meta’s “family of apps” (Facebook, Instagram, Messenger, WhatsApp), year after year:
Average price per ad increased by 6% Ad impressions increased by 20%. Daily active users increased 7% to 3.24 billion.
Meta search advertising. Could Meta AI bring money into search advertising at some point in the future? Zuckerberg was asked this question during the earnings call, given that the Meta AI assistant now includes search results from Google and Microsoft Bing:
“We’re not working on search ads or anything like that. I think that’s going to end up being a pretty different business.” “I think there will be the ability to have ads and paid content in Meta AI interactions over time, as well as people being able to pay, whether it’s bigger models or more computing or some of the premium features and things like that . But all this is too soon to be concrete.”
Investments in AI. Meta is accelerating AI investments, with plans to spend $35 billion to $40 billion this year. Too:
“Tens of millions of people” have tested the Meta AI assistant since it was introduced to the Facebook, Instagram, WhatsApp and Messenger apps last week.
threads With 150 million monthly active users, Threads now has more users than X. That’s probably why Meta is reportedly looking to launch ads on Threads later this year.
Why we care Meta had strong advertising growth, perhaps a good sign for the industry. We’ll find out more as Google and Microsoft are set to report earnings today.
Add Search Engine Land to your Google News feed.
New in Search Engine Land
About the author
Anu Adegbola has been a paid media editor for Search Engine Land since 2024. She covers paid search, paid social media, retail media, video and more.
In 2008, Anu’s career began with
deliver digital marketing campaigns (mainly but not exclusively Paid Search) by creating strategies, maximizing ROI, automating repetitive processes and making all marketing departments efficient through inspiring leadership both on the agency, client and marketing technology side.
Outside of Search Engine Land article editing, she is the founder of the PPC networking event: PPC Live, host of weekly podcast PPCChat Roundup, ibRand Evangelist at ClickTech.
He is also an international speaker with some of the stages he has presented being SMX (USA), SMX (Munich), Friends of Search (Amsterdam), brightonSEO, The Marketing Meetup, HeroConf (PPC Hero), SearchLove, BiddableWorld, SESLondon, PPC Live Chat, AdWorld Experience (Bologna) and more.
