I=4, March 18, 2023
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Wells Fargo Securities analyst Ken Gawrelski said Meta is now more of a content recommendation engine than a social network.
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He pointed out that its share of e-commerce ad spent rose from 25% in 2022 to 31% in 2023 and that it has gained back the share of engagement that it lost to TikTok in 2021 and 2022.
“What we’ve seen over the last couple years, and this really manifests itself in the back half of 23’ and continuing to 24’, is Meta has rebuilt its Signals,” said Gawrelski