August 04, 2022
Good morning, Media Deals readers!
🍿 Situational awareness: Paramount Global reported $7.78 billion in Q2 revenue, attributing some of the 19% growth to the box office success of "Top Gun: Maverick." But its quarterly profit dropped by 33%.
1 big thing: Apple's ad biz growth
Apple's in-house ad business continues to impact other tech giants' revenues, and there are signs that will increase, Kerry writes.
Why it matters: Apple's growth and success with advertising affects not only giants such as Facebook but also smaller ad networks, possibly prompting more consolidation in the market.
Driving the news: Recent job listings point to Apple's plans on building a demand-side platform, Digiday reported yesterday.
- "No company builds ad tech like this unless they're serious about making a bigger move on media dollars," Ronan Shields writes.
By the numbers: Apple's in-house search ads were responsible for 58% of iPhone app downloads resulting from ad clicks last September, according to a study by mobile analytics company Branch.
- Apple's share has remained around 50% for the first half of this year, a Branch spokesperson tells Axios' Sara Fischer.
- Apple's share was about 20% prior to April 2021, per Branch.