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Amazon surges ahead while YouTube stumbles as WARC’s Q4 2025 big tech revenue analysis reveals divergence in revenue momentum

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Amazon
  • YouTube delivered the most significant underperformance versus WARC’s Q4 2025 benchmark, missing forecasts by 9.3 percentage points.
  • Though still just behind forecast (-1.4pp), Meta delivered a more robust quarter, supported by an accelerating use of AI across ad targeting and measurement.
  • Amazon was the standout performer during the quarter, surpassing expectations by 5.5pp.

WARC releases Earnings Debrief – a new quarterly summary comparing Big Tech’s ad revenue performance against WARC Media’s global ad spend forecast data

10 February 2026 – The final quarter of the year revealed a divergence in performance across Big Tech platforms, with Amazon emerging as the clear outperformer against expectations while YouTube fell notably short. This is according to new analysis by WARC Media.

WARC Media’s Earnings Debrief, is a new quarterly series that reviews the financial releases of Big Tech and compares their ad revenue performance against WARC Media’s quarterly global ad spend forecast data, to provide a current round-up of their ad spend.

James McDonald, Director of Data, Intelligence & Forecasts, WARC, said: “WARC Media’s Earnings Debrief cuts through the headline numbers to show what’s really driving performance across the major ad platforms.

“By refreshing forecasts quarterly, WARC’s benchmarks give clients a timely read on where growth is accelerating, where it’s stalling, and why — from Amazon’s retail media momentum and full-funnel scaling, to YouTube’s Shorts monetisation gap and Google’s AI pivot. In a fast-moving market, this recency and context is essential for understanding trajectory and informing confident investment decisions.”

YouTube misses forecast by 9.3pp

YouTube delivered the most significant underperformance versus WARC’s Q4 2025 benchmark, missing forecasts by 9.3 percentage points (pp). While the result appears disappointing on the surface, there were several compounding factors at play.

Political advertising spend during the US Presidential Election had driven CPMs higher than average, though the degree to which the cooling off occurred in Q4 2025 was notably more marked.

Engagement with YouTube remains strong overall, but conventional in-stream advertising may not provide the future growth engine.

Shorts – a format developed to counter consumption on TikTok and Instagram – now average more than 200 billion daily views, and in several major markets, including the US, revenue per watch hour has overtaken that of traditional in-stream formats. However, despite rising consumption, Shorts contribute a relatively small share of overall ad revenue due to evolving monetisation frameworks.

Further, new data show that approximately a third of YouTube’s total revenue – some $20bn – now comes from subscriptions to its ad-free YouTube Premium service, which may act as a headwind for future ad revenue growth.

Mixed fortunes for Google as AI disrupts discovery

Google’s advertising performance was more mixed. The Google Display Network declined by 1.6% in Q425 and 1.9% during 2025 as a whole, in both cases roughly one point behind forecast. This reflected softer pricing and a shift in advertiser budgets towards higher-value formats, including YouTube and Google-owned inventory accessed via Performance Max and Demand Gen campaigns.

As spend migrates away from the open web, display’s relative contribution to Alphabet’s bottom line continues to stagnate. The company noted that income from AdSense fell, while AdMob (i.e. in-app ads) receipts grew but not enough to stymie overall decline.

Meanwhile, Google Search remains structurally resilient, coming in ahead of forecast during the quarter but roughly par (+0.8pp) for the full year. Despite intensifying competition from generative AI alternatives, Google’s integration of AI into search experiences appears to be sustaining engagement and query volumes, reinforcing its monetisation advantage. That said, the price is a near doubling of capital expenditure.

Meta falls just short of forecast

Though still just behind forecast (-1.4pp), Meta delivered a more robust fourth quarter, supported by an accelerating use of AI across its ad targeting and measurement suite, which has driven both higher ad impression volumes (+18%) and increased pricing (+6%). The scale of Meta’s AI infrastructure investment could place pressure on margins if returns take longer to materialise.

Strong growth in video engagement – particularly across Reels on Instagram and Facebook – has reinforced advertiser appetite for video placements, which typically command higher CPMs.

Meta reported that Reels watch time in the US – its largest market – rose by more than 30% in Q4. The format is a core part of Meta’s strategy to retain share of wallet against competitors, however, the monetisation rate for Reels remains lower than that for traditional in-feed ads.

Amazon flexes growing full-funnel muscle

Amazon was the standout performer during the quarter, surpassing expectations by 5.5pp. Although advertising still represents less than 10% of Amazon’s total revenues, it now ranks as the world’s third-largest digital advertising platform globally. Further, Madison & Wall estimates that advertising contributed essentially all of the operating income generated by the company’s retail sector last year.

Retail media’s ability to link ads directly to purchases, supports premium pricing across Sponsored Products, Brands and Display. New WARC Media ad spend data – derived from monitoring by Walrus Intelligence – shows that some 81.5% of Amazon’s ad income (almost four fifths of growth) is derived onsite, though this is down slightly from the previous year.

The rollout of advertising across Prime Video has further strengthened Amazon’s full funnel proposition, adding high value, scaled and targeted inventory. Prime Video now reaches an estimated 315 million monthly ad-supported viewers globally (compared to Netflix’s 190 million), significantly expanding

Amazon’s video CPM opportunity.

Amazon’s rapid deployment of AI-driven campaign tools and predictive targeting further strengthens its ability to tie ad spend to measurable conversion across its ecosystem.

Overall, Q4 2025 highlighted a market increasingly rewarding platforms that combine scale, data and demonstrable outcomes – a dynamic that continues to favour Amazon, even as others recalibrate their growth stories.

Business

KoçSistem Leads Türkiye’s Information Technology (IT) System Integrator for the Eighth Consecutive Year as KoçDigital Wins Top Artificial Intelligence (AI) Award

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KoçSistem ranked first in ICT 500’s main system integrator category for an eighth consecutive year, while KoçSistem and KoçDigital recorded 10 category wins as KoçSistem expands its MENA operations through Dubai and Riyadh

ISTANBUL, Türkiye, August 9, 2026/APO Group/ –KoçSistem (www.KocSistem.com.tr), a Türkiye-based technology company, ranked first in the main Information Technology Systems Integrator and Business Partner category of the 27th ICT 500, the country’s most comprehensive ICT (information and communication technology) sector research.

 

The company announced that the eighth consecutive category lead, as well as 10 combined category wins for KoçSistem and KoçDigital, support its MENA growth through offices in Dubai and Riyadh.

“Securing this leadership for an eighth consecutive year in ICT 500 is a strong reference for our leadership position in Türkiye,” said Mehmet Ali Akarca, General Manager of KoçSistem. “It also supports our objective of growing in international markets. We are pleased to take the technology expertise and operational capabilities we developed over many years in Türkiye to the MENA region.”

Ten category wins across two companies

KoçSistem’s eight first-place results covered the main system integrator category and areas including consulting, cloud, hosting management, cybersecurity, managed services and data backup and storage hardware.

With over 80 years of experience, we aim to create long-term value for the region’s digital ecosystem

KoçDigital added two first-place results in data warehousing and business intelligence software, and artificial intelligence under the “Contribution to Türkiye’s Economy” category.

ICT 500 ranks Türkiyes largest ICT companies

ICT 500 is BThaber’s annual ranking of Türkiye’s 500 largest ICT companies by revenue, with additional tables covering operating categories. The latest edition assessed 2025 data and marked the study’s 27th year.

The research reported that the combined 2025 revenue of the 500 ranked companies reached TRY 1.6 trillion, up 40 per cent from 2024.

MENA growth through Dubai and Riyadh

KoçSistem opened offices in Dubai and Riyadh in 2024 and continues to develop its MENA business in AI, cloud, cybersecurity, data analytics and managed services.

The offices extend a regional initiative outlined at GITEX Dubai 2024, when KoçSistem described Dubai as a base for developing customer and partner relationships across the Gulf and wider MENA markets.

“With over 80 years of experience, we aim to create long-term value for the region’s digital ecosystem,” Akarca concluded.

Distributed by APO Group on behalf of KoçSistem.

 

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Data Centre Summit Connects Africa’s Digital Growth with the Power Systems Needed to Sustain it

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Data Centre Summit

The programme will examine why data centres are emerging as a new industrial powerhouse and what coordinated action is required from operators, hyperscalers, utilities, independent power producers and investors to capture Africa’s share of global demand

JOHANNESBURG, South Africa, August 13, 2026/APO Group/ –The Data Centre Summit returns for its second edition on 29 October 2026, co-located with the C&I Energy + Storage Summit at The Maslow Hotel in Johannesburg.

 

Following its debut alongside Enlit Africa in Cape Town, the Summit responds to a clear industry need: a platform that connects the growth of artificial intelligence and digital infrastructure with the power, cooling, financing and sustainability challenges shaping data centre development across Africa.

The programme will examine why data centres are emerging as a new industrial powerhouse and what coordinated action is required from operators, hyperscalers, utilities, independent power producers and investors to capture Africa’s share of global demand.

Cooling will be a central focus, with sessions exploring the shift from air to liquid cooling as rack densities increase. Discussions will consider deployment at scale, high-performance infrastructure, water availability, waste-heat reuse and the pressure that freshwater scarcity places on cooling decisions.

A South Africa country spotlight will assess the wheeling landscape, grid congestion, regulatory developments and investor sentiment influencing near-term project delivery. The programme will also explore the operational realities of maintaining 24/7 power supply through renewable blending, co-location and evolving generation technologies.

A dedicated case study will unpack how Cape Town, the first African city to launch a formal data strategy, is balancing spatial planning, resource constraints and public transparency against the rapid site approvals demanded by hyperscale growth. This will be paired with a cross-sector conversation on how surging digital workloads are drawing municipal grid capacity and independent power producers into closer alignment, and what coordinated, energy-led siting means for the next wave of facilities coming online across the continent.

Parallel masterclasses will focus on implementation, practical data centre design for African conditions and the barriers limiting clean energy investment. These sessions will address project bankability, power availability, execution risk, grid instability, contractor capacity and blended-finance solutions, giving delegates concrete tools to move projects from concept to bankable reality.

Co-location with the C&I Energy + Storage Summit, created by VUKA Group, places data centre operators in direct conversation with the customers, energy providers, financiers and technical partners responsible for powering Africa’s digital backbone.

For more information and to download the Data Centres Summit Johannesburg programme, visit https://apo-opa.co/3TXHxJ5  

Distributed by APO Group on behalf of VUKA Group.

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Business

Taara and Liquid use light-beam technology to expand data center capacity to large enterprises in Lagos, Nigeria

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Taara

Over the last two years, Liquid has deployed nearly a dozen Taara links across Lagos to quickly serve high-speed connectivity to large local enterprises and improve network resilience across key commercial areas for local internet service providers, banks, hotels, and a utility company

SUNNYVALE, United States of America, August 5, 2026/APO Group/ –Taara, a graduate of X, Google’s Moonshot Factory and a leader in high-speed, high-capacity wireless optical communication, today announced its continued collaboration with Liquid Intelligent Technologies (https://Liquid.Tech), a business of Cassava Technologies, a global technology company.

Taara has helped Liquid to quickly distribute high-capacity bandwidth from its points of presence at Africa Data Centres and other leading data centers in Nigeria to large enterprises within and beyond the reach of fiber, where traditional deployments can be costly, time-consuming, or operationally challenging, especially in areas where network outages caused by fiber cuts can take days to restore.

Over the last two years, Liquid has deployed nearly a dozen Taara links across Lagos to quickly serve high-speed connectivity to large local enterprises and improve network resilience across key commercial areas for local internet service providers, banks, hotels, and a utility company.

Nigeria is one of the largest economies in Africa, with some analysts reporting that the country’s economy is growing faster (https://apo-opa.co/4fX49AN) in 2026 than it has done in the previous five years. Lagos is the country’s largest and fastest-growing commercial hub, but expanding network infrastructure in dense urban environments can be challenging.

Wireless optical communication gives operators another tool to extend capacity, reach customers faster, and build more resilient networks without compromising performance

To meet growing enterprise demand, operators increasingly rely on a mix of technologies to extend coverage and increase redundancy. Liquid is using Taara’s technology to ensure improved proliferation of connectivity across the most difficult terrains in the country.

By using highly focused beams of light to transmit data through the air, Taara enables operators to establish links within days rather than weeks, helping accelerate customer deployments while complementing existing fiber infrastructure. Liquid is now exploring opportunities to expand the use of wireless optical communication into regions across Nigeria, including Abuja, Ibadan, and Kano.

“For Liquid, deployment speed has been one of the most significant advantages. Traditional fiber deployments aren’t always a possibility, especially across difficult terrains. Taara links can often be installed and activated within hours, allowing Liquid to ensure it is remaining true to its mission to create a digitally connected future that leaves no African behind,” said Eugene Uka, Acting Chief Executive Officer at Liquid Intelligent Technologies Nigeria.

“As demand for connectivity continues to grow, operators need more flexibility in how they expand and reinforce their networks,” said Bhavesh Mistry, Regional Lead for Taara in Africa. “Fiber remains an essential part of modern communications infrastructure, and will for some time, but there are many situations where deploying fiber quickly or cost-effectively can be difficult. Wireless optical communication gives operators another tool to extend capacity, reach customers faster, and build more resilient networks without compromising performance.”

Taara Lightbridge occupies a unique position between fiber and traditional radio-frequency solutions, delivering up to 20 Gbps of capacity across distances of up to 20 kilometers using narrow, invisible beams of light. The platform enables operators to rapidly deploy high-capacity links without trenching, spectrum licensing, or extensive civil works, helping bridge connectivity gaps that might otherwise remain unserved. Taara Lightbridge is currently deployed in more than 20 countries with operators including T-Mobile, Airtel, Digicel, Liquid, and SoftBank, helping extend and reinforce network capacity across urban, rural, remote, and hard-to-reach environments.

Read more in the case study (https://apo-opa.co/4fGlpLK). For more information about Taara, visit https://apo-opa.co/4gbnzmO.

Distributed by APO Group on behalf of Liquid Intelligent Technologies.

 

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