May 8, 2017 by Paul Dughi
Bob Hoffman, The Ad Contrarian, is always a fun read. Recently, he listed off a new set of stats that puts digital advertising into perspective. Along the way, he created a new acronym: Google + Facebook = Goobook.
Look at these stats from Pivotal Research:
- In the third quarter of 2016, 99% of all new online ad revenue went to Goobook
- The US online ad industry grew 22% in 2016.
But because Goobook are the industry — “the average growth rate for every other company in the sector was close to 0” – Bob Hoffman, Ad Contrarian
- Goobook now account for 77% of all online ad spending in the US
“It is beyond mindblowing to think that there are about 1.2 billion websites in the world and 2 of them are raking in 77% of ad revenue. Imagine if Channel 6 in Boise and Channel 9 in Waco were recipients of 77% of all TV revenue in the US. Except there aren’t 1.2 billion TV channels. The Goobook duopoly is thousands of times more concentrated.”– Bob Hoffman, Ad Contrarian