Facebook reported its first-ever year-over-year decline in advertising revenue in its Q2 2022 and thereafter their ad revenue keeps falling.
Facebook reported a second straight quarterly revenue decline and is forecasting another drop in the fourth quarter.
TikTok’s annual revenue from ads in 2022 increased a whopping 200% from the previous year. TikTok’s annual revenue by the end of this year is expected to be three times higher than its revenue in 2021.
And along the journey, Facebook launched Reels, which is absolutely no match for the success that TikTok is having.
Hence, it clear that Facebook is now no match to TikTok, in terms of advertising strength and Facebook has ran out of any further innovative ideas to have healthy advertising revenues again.
Therefore, it is obvious that Facebook is secretly injecting "steroids" into their ad costs for advertisers and this is why advertisers are seeing higher than usual ad costs. Facebook's top management need to realize that such obnoxious moves, will result in more advertisers leaving Facebook Ads and moving to TikTok (TikTok Ads) and other more innovative platforms. Facebook has dug it's grave AND has already fallen into that grave, it is ALREADY too late for any rescue. Perhaps consider to leave Facebook Ads and move to platforms like TikTok (TikTok Ads).