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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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2 months ago

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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.

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Leah Nakazwe Kooma appointed as Chief Executive Officer (CEO) of Liquid Intelligent Technologies Zambia

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6 hours ago

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March 31, 2026

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With over two decades of experience across the telecommunications, financial services, and media sectors, Leah’s appointment underscores Liquid’s strategic growth and dedication to expanding its leadership in digital infrastructure in Zambia and beyond

LUSAKA, Zambia, March 31, 2026/APO Group/ –Liquid Intelligent Technologies (http://Liquid.Tech/), a business of Cassava Technologies, a global technology leader of African heritage, is pleased to announce the appointment of Leah Nakazwe Kooma as Chief Executive Officer of Liquid Intelligent Technologies Zambia, effective 1 April 2026.

With over two decades of experience across the telecommunications, financial services, and media sectors, Leah’s appointment underscores Liquid’s strategic growth and dedication to expanding its leadership in digital infrastructure in Zambia and beyond. This move reflects our ongoing commitment to innovation and regional development.

Leah’s leadership is pivotal at this stage for our Zambia business and the broader region

“Leah’s leadership is pivotal at this stage for our Zambia business and the broader region. Her proven ability to deliver results will drive Liquid Zambia’s next phase of growth,” said Wellington Makamure, CEO of Sub-Saharan Africa, Cassava Technologies.

Leah began her career at Barclays Bank before joining Celtel, where she worked across multiple African markets. She joined the founding team of Vodafone Zambia in 2016, playing a key role in launching the country’s first 4G LTE network as Chief Sales and Distribution Officer. In 2017, she joined MultiChoice Zambia as the GOtv Commercial General Manager and was later appointed Chief Customer Officer, then Managing Director.

“I am very excited about joining the Liquid team. I have watched from the terraces as the business has evolved over the years, and I believe that, together with my team, we can take it to the next level. Having started my career in sales, marketing, and customer service has helped me understand what customers want and how to treat them. Over the years, I have had the privilege of working with people from different backgrounds and cultures, which has enabled me to collaborate seamlessly across diverse business environments. This experience also helped me grow into an effective communicator, whether with customers, clients, or co-workers,” explains Leah.

Leah holds a Bachelor of Arts Degree in Economics and Development Studies from the University of Zambia and a Master of Business Administration from the University of South Wales. She currently serves on several boards, including as Board Chair for the Mulungushi International Conference Centre, and is a member of the Institute of Directors and Business Professional Women International.

Distributed by APO Group on behalf of Liquid Intelligent Technologies.

 

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Kaspersky and African Union Mechanism for Police Cooperation (AFRIPOL) conduct joint cybersecurity training for African law enforcement

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4 days ago

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March 27, 2026

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Kaspersky Expert Training is used by numerous organisations and academic institutions to advance their skills in battling against cybercrime

JOHANNESBURG, South Africa, March 24, 2026/APO Group/ –As part of a joint initiative with AFRIPOL, Kaspersky (www.Kaspersky.co.za) provided cybersecurity training courses for law enforcement representatives from 23 African countries, unfolding the fundamentals of Security Operations Center (SOC) activities and advanced threat hunting techniques.

 

As cyberthreats continue to grow in scale and complexity, strengthening the technical capabilities of law enforcement agencies has become an important priority worldwide. Through knowledge-sharing programmes, technology companies can contribute practical expertise gained from real-world cyber investigations and threat analysis. Such collaboration helps equip law enforcement professionals with the skills and tools needed to investigate digital crimes more effectively and strengthen cybersecurity capabilities.

From November 2025 to March 2026, around 40 African officers from 23 countries* received “Security Operations and Threat Hunting” training, provided as part of the cooperation agreement between Kaspersky and AFRIPOL signed in 2024. During the training, African officers gained practical knowledge of Security Operations Center (SOC) activities and modern cyber-defence practices. The programme covered key aspects of threat detection and incident investigation, including how to identify malicious activity in Windows and Linux environments, analyse attacker tactics, techniques and procedures (TTPs) and use threat intelligence to uncover advanced threats.

As part of the training, a series of online Q&A sessions were organised, providing participants with the opportunity to engage directly with experts and course authors from Kaspersky’s Security Services team. These sessions allowed attendees to clarify complex topics, discuss practical cases and receive additional insights, reinforcing the learning experience and ensuring a deeper understanding of key cybersecurity concepts.

We highly value this collaboration and the opportunity it creates to further develop the cybercrime response capabilities of AFRIPOL member countries

“Cybercrime today is highly sophisticated, borderless and constantly evolving, which means no single organisation can tackle it alone. This is why cooperation and knowledge sharing between the private cybersecurity sector and law enforcement agencies are so critical. Our long-standing collaboration with AFRIPOL demonstrates the value of this approach. Over the years, Kaspersky and AFRIPOL have worked together to better understand the cyberthreat landscape across Africa and to support international efforts aimed at disrupting cybercrime. By continuing to invest in training and capacity building, we aim to support law enforcement professionals with the expertise they need to investigate digital crimes effectively and contribute to building a safer and more trusted digital environment for everyone,” says Yuliya Shlychkova, Vice President, Public Affairs, at Kaspersky.

“Strengthening the capabilities of law enforcement agencies is essential to effectively address the growing complexity of cybercrime across the African continent. Initiatives such as this training programme play an important role in equipping officers with the practical skills needed to investigate cyber incidents, analyse digital evidence and respond to emerging threats. Cooperation with partners from the private cybersecurity sector, such as Kaspersky, helps law enforcement agencies stay informed about the latest threat trends and investigative approaches. We highly value this collaboration and the opportunity it creates to further develop the cybercrime response capabilities of AFRIPOL member countries,” says Dr Mohammed Benaired, Head, Training and Capacity Building Division at AFRIPOL.

In 2024, to further enhance global efforts to combat cyber offenses, Kaspersky and AFRIPOL signed (http://apo-opa.co/4taXNTz) a cooperation agreement in preventing and fighting cybercrime. Covering a period of five years, the document formalises and facilitates cooperation between the company and the law enforcement agency in sharing threat intelligence data on the latest cybercriminal activities and entails the provision of assistance and know-how in information security analysis.

Kaspersky Expert Training is used by numerous organisations and academic institutions to advance their skills in battling against cybercrime. Since the inception of this online training programme, Kaspersky experts have trained more than 3,000 specialists from 50 countries around the world. Providing their expertise with 12 educational courses, they share their insights on advanced tactics and strategies in Reverse Engineering, Threat Hunting, Incident Response and more – each divided by the level of students’ experience. Learn more here https://apo-opa.co/4bugdIL.

*Algeria, Benin, Cameroon, Comoros, Eswatini, Ethiopia, Gabon, Gambia, Ghana, Kenya, Liberia, Libya, Malawi, Mali, Mozambique, Namibia, Nigeria, Rwanda, South Africa, South Sudan, Uganda, Zambia, and Zimbabwe.

 

Distributed by APO Group on behalf of Kaspersky.

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Tech-Driven Restoration: Saving the World’s Critically Endangered White-headed Langur

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4 days ago

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March 27, 2026

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Through decades of careful conservation efforts, the white-headed langur population has increased from just over 300 in the 1980s to more than 1,400 across 130 groups today.
An AI-powered system covers more than 20 monitoring stations in the Guangxi Chongzuo White-headed Langur National Nature Reserve. It has logged 37,200 detections of langur activity, which provide critical data for research and conservation.
To date, 77.6 hectares of habitat has been restored, 2 drinking water sources and 18 water drinking points for the langurs have been built, and 2 ecological corridors have been constructed.

CHONGZUO, CHINA – Media OutReach Newswire – 27 March 2026 – In the rugged karst mountains of Guangxi in Southern China, a primate species once on the brink of extinction – the white-headed langur – is steadily recovering in population thanks to a range of measures that bring together technology, law enforcement, and ecological restoration.

Found exclusively in Chongzuo, Guangxi, the white-headed langur is listed as Critically Endangered by the IUCN Red List of Threatened Species and the Red List of China’s Vertebrates. New monitoring data reveals that the “stone mountain elf”, which is even rarer than the giant panda, is no longer on the brink of extinction. Through the combined efforts of the local government, the nature reserve, academia, and the tech sector, the survival crisis triggered by habitat fragmentation has been significantly reversed for this species.

 

To address the challenges posed by the rugged karst terrain and the difficulties of traditional patrol and monitoring, the nature reserve teamed up with Huawei and the China-ASEAN Artificial Intelligence Application Cooperation Center to develop an intelligent monitoring platform powered by AI computing. Thanks to the video-based animal monitoring devices deployed along the cliffs, the system can collect real-time data on the langurs’ distribution, surroundings, and patterns of activity. Using AI-driven automated labeling and data analytics, the reserve has developed a complete dashboard for visualized management. This has significantly enhanced the efficiency of data retrieval and analysis. To date, the system has recorded over 37,200 instances of langur activity.

In addition to technical support, innovation in ecological protection and restoration mechanisms is also critical. The Chongzuo White-Headed Langur Habitat Protection Regulations, the first regulation of its kind in China, forms the legal framework for the reserve’s protection efforts. Under this framework, a range of measures has been implemented. To date, 77.6 hectares of habitat has been restored, 2 drinking water sources and 18 water drinking points for the langurs have been built, and 2 ecological corridors have been constructed. The white-headed langur population has increased to more than 1,400 across 130 groups. As the langur is an umbrella species of the local karst ecosystem, the growth of its population is critical to the region’s biodiversity. Wild duck lettuce, a level-II protected species in China, was recently found in the reserve for the first time, a sign of recovery in the fragile local ecosystem.

Nong Dengpan, Director of the Guangxi Chongzuo White-headed Langur National Nature Reserve Management Center, said: “The growth of the white-headed langur population can be attributed to a combination of technology, legislation, and ecological restoration efforts. Digital technology enables more precise observation of these limestone langurs and more informed management of their living environment. This integrated conservation model can serve as a reference for the protection and population recovery of other endangered primate species, such as the eastern black crested gibbon in Southeast Asia.”

Tian Yongsheng, Deputy General Manager of Huawei Guangxi, noted: “Huawei is committed to conserving nature with technology. We work with global partners to support ecosystem conservation using digital technologies like 5G, cloud, and AI. The success of the white-headed langur project demonstrates AI’s immense value in processing complex geographical data and massive volumes of species data. We will continue using innovative technologies to protect biodiversity and enable the harmonious coexistence of humanity and nature.”

By the end of 2025, our digital inclusion projects for environmental protection had been implemented in 65 protected areas around the world. These projects have significantly improved the efficiency of biodiversity conservation and the sustainable use and management of natural resources.

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