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Strong showing by Alphabet, Meta signal ad market rebound underway

26Oct

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Technology

Strong showing by Alphabet, Meta signal ad market rebound underway

[ad_1] A rebound in the advertising businesses of Google, Meta and Snap signaled that the growing adoption of artificial intelligence was drawing marketers to digital platforms even in an uncertain economy.The three companies surpassed quarterly revenue expectations this week and each posted positive metrics for their ad businesses. "AI is helping advertisers find as many people as possible and their ideal audience for the lowest possible price," said Philipp Schindler, chief business officer at Alphabet's Google. The company has been doubling down on the technology with tools such as Performance Max, which uses AI to decide how marketing budgets should be distributed across Google's ad network.Schindler said that the retail segment was particularly strong during the July-September peri...

Meta oversight board urges changes to VIP moderation system

[ad_1] Facebook parent Meta's oversight board said that an internal system that exempted high-profile users from some or all of its content moderation rules needs a major overhaul. Facebook parent Meta's quasi-independent oversight board said Tuesday that an internal system that exempted high-profile users, including former U.S. President Donald Trump, from some or all of its content moderation rules needs a major overhaul. The report by the Oversight Board, which was more than a year in the making, said the system “is flawed in key areas which the company must address." The board opened its review after The Wall Street Journal reported last year that it was being abused by many of its elite users, who posted material that would result in penalties for ordinary people, including ...

Facebook Parent Meta Reduces NYC Hudson Yards Space in Cost-Cutting Pivot

[ad_1] Facebook parent Meta Platforms Inc. is giving up some offices at Manhattan’s Hudson Yards as the company seeks to slash expenses and cull its workforce. Facebook parent Meta Platforms Inc. is giving up some offices at Manhattan's Hudson Yards as the company seeks to slash expenses and cull its workforce. Meta will return its space at 30 and 55 Hudson Yards to landlord Related Cos., according to people with knowledge of the plans, who asked not to be named because the matter is private. Meta, which leases more than 250,000 square feet (23,000 square meters) across the two towers, has declined the option to renew its lease, which runs through 2024, the people said. The social media giant in 2019 agreed to rent more than 1.5 million square feet spread among three towers at th...