Beyond the chart: Meta laid off more than 11,000 employees on Wednesday, in the face of its eroding dominance in social media, struggles with Apple’s privacy changes, and other challenges.
This forecast update is part of a broader downgrade for the US social ad market. We now expect 3.6% growth in 2022, down from our previous forecast of 18.2%, and 8.8% growth next year, down from 17.0%.
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