Digital ads show signs of rebound as Meta, Amazon point to growth

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A year ago, Meta finance chief Susan Li offered chilling commentary about the state of the digital ad market, telling analysts that the struggling industry would remain in a slump.

Speaking to analysts on the company’s fourth-quarter earnings call, Li said at the time that Facebook’s revenue “remained under pressure from weak advertising demand” and that sales would continue “to be impacted by the uncertain and volatile macroeconomic landscape.”

During that period Meta’s ad revenue fell 4%, and Google’s ad business suffered a similar drop. Inflation, supply chain issues and global conflict were all depressing spending.

The narrative is very different now.

With results in from Alphabet, Meta and Amazon — the three U.S. leaders in digital advertising — it’s clear that the market has rebounded, at least for the time being.

Meta’s fourth-quarter ad sales jumped 24% from a year earlier to $38.7 billion, while Amazon’s booming ad unit rose 27% to $14.7 billion. Meanwhile Alphabet, still the market leader, saw its Google ad business rise 11% to $65.5 billion, boosted by 16% growth at YouTube.

Debra Aho Williamson, an independent analyst told CNBC that big advertiser events like the Summer Olympics in Paris and the upcoming presidential elections will contribute to higher spending. Insider Intelligence said in a recent report that global ad spending will jump 10% in 2024, up from growth of 6.3% in 2023 and the same level of expansion the prior year.

“After two years of relative malaise, the outlook is very positive on a global scale and in every major region,” the report said.

Analysts at William Blair expressed similar sentiment. They said businesses appear less concerned with the Russia-Ukraine conflict than in the past and are

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Annual Point In Time survey is conducted to look at homelessness in the area

COLORADO SPRINGS — The simple question ‘Where did you sleep last night?’ can have many varied and complicated answers for some in the community.

But it’s an important question and the answer could help resource providers better understand homelessness.

On Monday morning, volunteers began the annual Point In Time survey, or PIT count, as it’s sometimes called.

“Every year we are required to be compliant with the funds we receive, and also to get a sense of how many people experience homelessness, is to count how many people are experiencing homelessness on one night out of the year,” said Evan Caster, the Senior Manager for Homeless Initiatives at Community Health Partnership.

The US Department of Housing and Urban Development requires communities to conduct a Point In Time Survey every other year. Community Health Partnership manages the Pikes Peak Continuum of Care.

To increase the accuracy of the survey this year, some groups enlisted the help of some of the homeless neighbors they regularly see. These members have deep ties to the community that someone who isn’t homeless may not be able to have.

Caster says one of the goals of learning this information is to figure out what solutions are working, and which ones are not.

“Homeless prevention, homeless diversion, working on ways that we can really prevent people inflow into the system. So we see fewer first-time homeless, fewer returns to homelessness, and that when someone is housed that’s a permanent solution,” said Caster.

The surge in the omicron variant of COVID-19 caused the 2021 Point In Time survey to be canceled. Caster said the 2022 survey showed emergency shelter use in Colorado Springs grew compared to 2020.

However, there was a noticeable drop in the number of people considered “unsheltered” under the survey. HUD considers anyone sleeping in

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