Alphabet Inc (NASDAQ:GOOGL) and Facebook Inc (NASDAQ:FB) have long enjoyed an extremely dominant position atop the online advertising world, but more companies than ever are hoping that a legitimate third contender emerges.
The Wall Street Journal points out that a lot is riding on those hopes:
Google and Facebook together collect nearly half of global spending. Last year, the U.S. online ad market expanded by nearly $12 billion and the two firms accounted for over 77% of that spending growth, according to eMarketer.
Advertisers are hoping for the emergence of a legitimate third player to provide competition that can give them more leverage and help keep prices in check. For ad agencies, the matter is existential: Google and Facebook have the resources to deploy entire teams to work with marketers directly, cutting out the middleman.
As the two giants get even bigger, the tougher it…