New Delhi: Hit by pandemic-related cuts in ad spend, Googles digital media revenues fell by 7 per cent in Q2 2020 to $38.3 billion, causing its market share to fall from 29 per cent in Q1 2020 to 26.3 per cent in Q2 — its lowest share of the global digital media market in the past six years.
According to a report by market research firm Strategy Analytics, the major factor was the decline in travel and leisure advertising, in which Google is particularly strong, as a result of behavioral changes brought about by the Covid-19 pandemic.
Facebook remained the world’s number two player, with a 12.8 per cent share in Q2, while Apple remained in third place, in spite of a decline in market share to 9 per cent.
Alibaba, the world’s fourth largest digital media company, was helped by a resurgent Chinese economy and saw its share rise to 8.4 per cent in Q2.
The overall global digital media…