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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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  • 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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Kaspersky shares 5-step safety action plan on what to do when you discover your phone is missing

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Kaspersky experts have released a practical, minute-by-minute action plan for the moment you realise your phone is missing

JOHANNESBURG, South Africa, May 14, 2026/APO Group/ –Misplacing a device, or having one stolen, is a stressful occurrence. Along with the inconvenience of no longer having a smartphone or tablet comes the risk of unauthorised access to banking accounts and the potential for identity theft. With this in mind, Kaspersky experts (www.Kaspersky.co.za) have released a practical, minute-by-minute action plan for the moment you realise your phone is missing.

 

Step 1: Try to locate it via another device

The first step that could help to find your phone is to activate the Find My Device feature for Android or Find My for iOS to locate it. You can enter your Google or Apple ID account from the other device and see the list of devices linked to the account. Kaspersky for Android (https://apo-opa.co/4wM0HRl) users can locate their device using the “Where Is My Device” feature via the My Kaspersky web portal. It is important that in order to use any functionality related to the device location, all those features must be activated in advance.

Step 2: Block your phone and watch for scammers

After logging into the account and finding the missing device in the device list, set it to “Lost” mode. After that, click the Вlock” button. You can set a new password, as well as add a message or a contact number that the person who found the phone will see. If the device is not connected to the Internet, the lock will take effect as soon as it connects.

Along with locating the device, Kaspersky for Android (https://apo-opa.co/4wM0HRl) users can go beyond simple locking:

  • Turn on a loud alarm, even if the phone is on silent. Perfect for finding it under a couch or forcing a thief to abandon it.
  • Take a Mugshot. On devices with a front camera, Kaspersky captures a photo of the person currently using your phone. This evidence can be shared with authorities. Kaspersky’s Mugshot feature works even if the thief ignores native lock commands.

Stay cautious, if the phone falls into the hands of intruders, they may try to contact you and extort personal data to access the phone. It’s highly recommended to warn your friends and relatives about the device loss whilst your mobile phone can be used for calls or messages from your number with requests for money or questions, all of which should be ignored.

At Kaspersky, we think in advance for your safety, going beyond just an antivirus solution

Step 3: Block access – SIM, bank cards, passwords

Promptly contact the mobile operator and block your SIM card, so you will eliminate the risk of using it for unscrupulous purposes. Also contact your bank to block any cards linked to the device or unlink those accounts.

After that, think about resetting passwords for all important services and log out of your accounts wherever possible. If you use a password manager (https://apo-opa.co/4ntbwmI), change its master password to protect all saved credentials.

If you’ve enabled SIM Watch in Kaspersky’s app in advance, the solution automatically blocks the device the moment someone inserts a new SIM card. This stops thieves from using their own SIM to bypass your locks.

Additionally, it’s recommended to protect the Kaspersky app itself from being uninstalled. Thieves often try to remove security apps first. Kaspersky’s anti-uninstall protection (one of the features of Where Is My Device) prevents the app from being removed and blocks changes to system settings – without your screen lock password.

Step 4: Check for the backups

As for other data such as photos, notes or messages stored on the phone, unfortunately, it will be only possible to restore it if you have backups or syncing with the cloud configured. If you had enabled device backups before the loss, you can restore almost everything, from contacts and photos to text messages.

Step 5: Remotely erase your device, if there is no hope of finding it

In parallel with how you perform all the actions described above, it is highly recommended to report the loss to local authorities and follow their guidance. However, if you are certain that the phone cannot be recovered, the final recourse is to completely erase all data from the device. This can be performed via Find My Device feature for Android, Find My for iOS or from the My Kaspersky web portal (for Android).

“In the routine of daily operations, it is easy to overlook how many critical aspects of our digital lives are tied to our mobile devices, and how seldom we consider that losing a phone may lead not only to inconvenience, but also to data loss, compromised access to essential accounts, or even identity theft. At Kaspersky, we think in advance for your safety, going beyond just an antivirus solution. We fully understand the risks and disruptions that a lost or stolen phone can cause. That is why our solutions are designed to mitigate those risks,” comments Dmitry Kalinin, Senior Malware Analyst at Kaspersky.

Step 0: Protect yourself in advance

Here are some additional steps that, if taken in advance, may significantly reduce the negative effects of losing the phone:

  • Enable location tracking. Both Android and iOS have special functionality to track a phone’s location and remotely erase data from it. Kaspersky for Android (https://apo-opa.co/4wM0HRl) provides this functionality with the Where Is My Device feature activated.
  • Allow automatic backups. Due to the regular backups all photos, videos, documents, contacts, and other important data can be recovered if the phone goes missing.
  • Store all sensitive data in the protected format. Use a dedicated security solution like Kaspersky Password Manager (https://apo-opa.co/4ntbwmI), which apart from securely keeping passwords, logins and bank cards, has a special secret vault functionality aimed at storing important documents, for example, scanned Passports/IDs and PDF files, addresses and notes.
  • Set immediate auto-locks. This ensures the phone is always locked when not actively being used, helping to prevent thieves or cybercriminals from accessing stored information.
  • Keep the phone physically secure. While being in a public place, avoid leaving a device unattended or easily accessible such as on tables or in back pockets.

Distributed by APO Group on behalf of Kaspersky.

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Metering experts call for secure bridge between legacy and smart systems

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The on-demand webinar, “Securing the Bridge Between Legacy and Smart Metering”, brings together leading metering specialists to unpack how interoperability, standardisation and secure data exchange are shaping the next phase of smart utility infrastructure

CAPE TOWN, South Africa, May 14, 2026/APO Group/ –Utilities modernising their metering infrastructure must avoid treating legacy prepayment systems and smart metering platforms as competing technologies, industry experts said during a recent webinar hosted by ESI Africa, part of VUKA Group (www.WeAreVUKA.com), in partnership with STS Association and DLMS User Association.

 

The on-demand webinar, “Securing the Bridge Between Legacy and Smart Metering”, brings together leading metering specialists to unpack how interoperability, standardisation and secure data exchange are shaping the next phase of smart utility infrastructure.

The recording is freely available here: https://apo-opa.co/4dHSwOc

The discussion featured Lance Hawkins-Dady, STSA Board Chairman, Sergio Lazzarotto, DLMS UA President and Franco Pucci, STSA Technical Consultant. The session was moderated by Nicolette Pombo-van Zyl, Editor-in-Chief of ESI Africa.

Opening the session, Pombo-van Zyl said the webinar would explore how strategic alignment between STS and DLMS supports secure token transport, interoperability and coordinated roadmaps for smart metering.

Hawkins-Dady said the collaboration reflects the need for utilities to balance trusted legacy systems with modern smart infrastructure.

“STS remains a secure, reliable mechanism for prepaid revenue collection. This strategy supports a practical, structured transition, avoiding disruptive changes,” he said.

He noted that more than 80 million STS-enabled devices remain active worldwide, making backward compatibility and investment protection critical for operators planning future metering strategies.

“There may be a perception in parts of the sector that, as smart metering advances, technologies like STS will naturally become obsolete,” Hawkins-Dady said. “What this liaison accomplishes is that it removes the notion of competition between standards and replaces it with coordination and synergy between different standards.”

Lazzarotto drew parallels between today’s metering transition and the standardisation journey in the personal computer sector, where common technologies such as USB and Bluetooth helped create more interoperable ecosystems.

“We were still miles away from this concept of interoperability,” he said, reflecting on early smart metering deployments. “What I am trying to do is push for standardisation that is at the service of manufacturers.”

He said proprietary systems have created long-term operational risk for utilities, particularly when suppliers exit markets or discontinue support. Standardisation allows utilities to reduce vendor lock-in while enabling manufacturers to scale products more efficiently across regions.

“There is something known in the IT sector called plug-and-play,” Lazzarotto said. “I plug it and it plays. I don’t have to take care about how it works.”

Interoperability takes centre stage

It’s about protecting what already works while enabling what comes next

Much of the discussion focused on interoperability and the technical integration of STS token technology into the DLMS/COSEM framework.

Pucci explained that the STS token itself has not changed. Instead, the token is now encapsulated within a DLMS object for transmission through smart metering networks.

“An STS token is still an STS token,” he said. “The only difference now is that you need to wrap it up in a DLMS COSEM object.”

He added that this approach gives utilities operational flexibility by maintaining both keypad entry and remote token delivery options.

“You now have essentially two paths to take your token to the meter,” Pucci said. “If a network is down, you can still type in your token at your meter and get your credit.”

Cybersecurity also emerged as a priority during the discussion. Lazzarotto warned that the increasing digitalisation of utility infrastructure requires stronger collaboration between standards bodies.

“We are speaking about strategic infrastructure,” he said. “We cannot play with that.”

He added that future work between the two organisations would focus heavily on secure architecture for electricity, water and gas applications.

The panel also highlighted the need for regional flexibility, particularly in Africa, where utilities operate under different regulatory and infrastructure conditions.

Lazzarotto said DLMS is working closely with regional standardisation organisations to accommodate country-specific requirements without fragmenting the broader framework.

“One thing is for sure,” he said. “There will be regional specificities and country specificities.”

The panellists repeatedly returned to the importance of open standards for utilities planning long-term smart metering rollouts.

“Do not get locked into a supplier,” Pucci warned during his closing remarks. “Use a system that you can purchase from as many suppliers as you wish.”

Hawkins-Dady said the collaboration ultimately gives utilities a lower-risk route into modernisation.

“It’s about protecting what already works while enabling what comes next,” he said. “Ultimately bringing a more connected, flexible and future-ready metering ecosystem.”

The on-demand recording is relevant for utilities, municipalities, metering specialists, revenue managers, manufacturers, system integrators and decision-makers responsible for smart metering procurement, infrastructure upgrades and digital transformation strategies.

Watch the webinar recording here: https://apo-opa.co/4dHSwOc

Distributed by APO Group on behalf of VUKA Group.

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Canon Introduces Coalition for Content Provenance and Authenticity (C2PA)-Compliant Authenticity Imaging System for News Organisations

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Canon’s Authenticity Imaging System reliably embeds provenance information into images at the point of capture as the foundation for authenticity, thereby enabling verification of content history throughout the workflow

DUBAI, United Arab Emirates, May 13, 2026/APO Group/ –Canon Inc. (www.Canon-CNA.com) and Canon Europe Ltd. announced today that Canon will roll out its Authenticity Imaging System for supported models in May 2026 initially in Europe, the Middle East, and Africa (EMEA)1. This system is a comprehensive solution based on the C2PA2 (Coalition for Content Provenance and Authenticity) standard to manage image provenance records, issue certificates, apply trusted timestamps and verify content history. Designed for images captured with C2PA-enabled3 cameras, specifically the EOS R1 and EOS R5 Mark II, the system helps support the preservation of provenance information from the point of capture onward, in accordance with each organisation’s editorial and technical workflows.

 

As generative AI technologies continue to advance, image manipulation and the spread of fake images have emerged as significant societal challenges. News organisations are increasingly expected to clearly demonstrate the provenance of the images they publish to ensure their authenticity. Canon joined C2PA and the Content Authenticity Initiative (CAI)4 in 2023 and has since been advancing the research and implementation of provenance management technologies based on international standards. Canon’s Authenticity Imaging System reliably embeds provenance information into images at the point of capture as the foundation for authenticity, thereby enabling verification of content history throughout the workflow, from initial intake through editing, distribution and publication.

The solution uses manifest information5 generated by C2PA-compatible cameras as its starting point, issuing public certificates and applying timestamps from trusted time-stamping authorities to help maintain verifiable provenance records over time. It provides an environment in which provenance information, including records added during editing and distribution processes, can be verified at the time of publication. This is designed to enhance transparency in how images are handled in news operations, accommodating both speed and authenticity in photojournalism.

Ahead of the official launch, Reuters, the global news organisation, collaborated with Canon on initial technical enablement and specific testing of C2PA cameras. Using the EOS R1 and EOS R5 Mark II with the Image Authenticity feature enabled, Reuters found that authenticated provenance data could be generated reliably.

Canon will continue to support the assurance of image authenticity in news organisations through its Authenticity Imaging System while also exploring expansion into a wide range of fields where authenticity is critical, including government, healthcare, and research. In addition, Canon will work toward the broader adoption of international standards such as C2PA by collaborating with related organisations and partners and further advancing provenance management technologies.

For more information, please visit the Authenticity Imaging System website: https://apo-opa.co/42yWNNH


1. Launch dates differ by country and region.

2. C2PA is an organisation which develops technical standards for establishing content provenance and authenticity of digital content.

3. C2PA functionality requires paid activation.

4. CAI is an organisation that promotes the adoption of C2PA, for example by recording content provenance in compliance with C2PA and providing open-source tools to verify that content.

5. Refers to metadata (such as capture date and time, location, equipment used, and camera settings) which is assigned a digital signature to prevent post-capture alteration. The date and time of capture are recorded based on the camera’s internal clock and are therefore not guaranteed to exactly match the actual date and time of capture.

 

Distributed by APO Group on behalf of Canon Central and North Africa (CCNA).

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