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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.

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Liquid C2 partners with KnowBe4 to bring workforce risk management to African businesses

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KnowBe4 is an addition to Liquid C2’s Secure360 portfolio with ongoing security awareness, phishing simulations, and risk management capabilities

JOHANNESBURG, South Africa, October 13, 2026/APO Group/ –Liquid C2, a business of Cassava Technologies, a global technology leader, today announced a new reseller partnership agreement with KnowBe4, a global leader in digital workforce security, securing both humans and AI agents. Through this partnership, Liquid C2 will bring KnowBe4’s training and risk management solutions to enterprise customers across Africa.

 




  

“At Liquid C2, we understand that employees are the first and best line of defence from cybersecurity attacks for any organisation. They are the foundation of a digitally resilient organisation. Employees need the skills and awareness to spot threats early, and by working with KnowBe4, we are strengthening the human side of our cybersecurity services. Cybersecurity is no longer just a compliance exercise, it is a business continuity imperative. Our partnership will ensure our customers have access to global cybersecurity training and an experience customised for staff at all levels of client organisations” said Vinay Hiralall, Chief Commercial Officer at Liquid C2.

We look forward to working with Liquid C2 to deliver KnowBe4’s platform to even more organisations across Africa

KnowBe4 is an addition to Liquid C2’s Secure360 portfolio with ongoing security awareness, phishing simulations, and risk management capabilities. Secure360’s unified framework covers governance, protection, detection and response, while the partnership adds capabilities that help organisations address employee-related security risks.

Additionally, the KnowBe4 platform includes attack simulation and training, email and collaboration security, and agent security powered by its Artificial Intelligence Defence Agents (AIDA). KnowBe4 maintains a robust partner programme that helps organisations worldwide strengthen their      workforce security capabilities.

“We look forward to working with Liquid C2 to deliver KnowBe4’s platform to even more organisations across Africa,” said Kurt Mills, SVP of global channel at KnowBe4. “By integrating KnowBe4’s high-quality, world-class platform with our existing security services, we can now deliver comprehensive protection that combines technological safeguards with digital workforce security. This partnership represents our commitment to providing customers with the most effective methods to build a security-conscious culture and significantly reduce their human and agentic AI-related security risks.”

This offering will be available to small, mid-sized, and large enterprises across Africa, with tailored benefits for regulated sectors like finance, telecoms, and government, where strong cyber security measures are critical to protecting people, systems, and data. Customers will have access to local billing, regional support, onboarding, and compliance assistance specific to their industry needs.

KnowBe4 will be bundled with other Liquid C2 services, including managed cybersecurity which is also available as part of Liquid C2’s Governance, Risk and Compliance offering. This gives organisations greater flexibility to integrate the solution into their existing cybersecurity environments.

Distributed by APO Group on behalf of Liquid Intelligent Technologies.

 

 




 

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OPPO Partners with Manus to Bring Agentic AI Experiences to Smartphones

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SHENZHEN, CHINA – Media OutReach Newswire – 13 October 2026 – Global smart device brand OPPO today announced a collaboration with Manus, a leading AI agent platform, to bring next-generation agentic AI experiences to smartphones. By integrating Manus’ agentic capabilities to OPPO AI Mind Pilot, the collaboration will help users turn complex, multi-step tasks into ready-to-use results—advancing OPPO’s vision for Personalized Proactive Intelligence, where AI understands users and proactively helps them get things done.
 




 
“Agentic AI marks an important shift from answering questions to helping users get things done.” said Kai Tang, President of Software Engineering at OPPO. “Together with Manus, we are bringing more proactive and capable experiences to AI Mind Pilot, enabling AI to better understand users’ intentions, take actions and complete tasks. Our goal is to make personal AI a natural part of everyday life and work.”

“Smartphones are central to people’s daily lives and support many of the tasks they handle every day, making them a natural platform for personal AI agents,” said Tao Zhang, Co-Founder & CPO of Manus. “By bringing together Manus’ agentic capabilities and OPPO’s system-level integration, we can make advanced AI agents more accessible and help users complete multi-step tasks through simple, natural interactions.”

Manus Capabilities Debut in AI Mind Pilot’s New Agent Mode

The collaboration will debut through the integration of Manus’ agentic capabilities into AI Mind Pilot’s new Agent Mode on the upcoming OPPO Find X10 Series with ColorOS 17.

Designed to move beyond simple question-and-answer interactions, AI Mind Pilot can understand a user’s end goal, break it down into multiple steps, identify relevant information, select the appropriate tools, and deliver a finished result, including by working directly with files and photos stored on the device.

For example, a user planning a trip could simply ask AI Mind Pilot to organize their travel plans. It can find flight tickets, hotel bookings, restaurant reservations, and attraction tickets scattered across different apps on the smartphone, organize them, and combine them with relevant online information to create a personalized, day-by-day itinerary—without requiring users to manually gather and upload the information.

The same capabilities can support everyday creative and professional tasks. Users can ask AI Mind Pilot to find and organize photos from a trip, locate specific images, or bring together existing files and online information to create a presentation, proposal, portfolio, or other ready-to-use content, all with just one single prompt.

Powerful Agentic AI Built Around User Control and Privacy

As AI moves from providing information to working with personal context and completing tasks, privacy, security, and user control become increasingly important. AI Mind Pilot is designed with these priorities at its core.

ColorOS 17 uses on-device models to understand and organize relevant information locally. For local tasks such as finding, organizing, or renaming files and photos, the original content remains on the device and is not shared with Manus. When a task requires external processing, AI Mind Pilot will ask for the user’s explicit confirmation before relevant content is uploaded or shared.

Users remain in control of what information is accessed, which actions are taken and whether external processing is allowed. Through on-device processing and transparent authorization, OPPO and Manus aim to make agentic AI more capable while maintaining a clear fucus on users’ choice and control.

Launching on OPPO Find X10 Series

The Manus-powered capabilities in AI Mind Pilot will debut on the OPPO Find X10 Series with ColorOS 17. Further details on availability, supported markets, and user benefits will be announced at launch.
 




 

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OPPO Unveils ColorOS 17 Globally: Silky Smooth. Flow with AI

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SHENZHEN, CHINA – Media OutReach Newswire – 13 October 2026 – OPPO today unveiled ColorOS 17, the latest generation of its mobile operating system, delivering a new level of smoothness alongside more intelligent, system-level AI capabilities. Debuting on the upcoming Find X10 Series and rolling out progressively to more OPPO devices, ColorOS 17 will bring these new experiences to users worldwide.

 




  

Flow Everywhere

From Parallel Animation in ColorOS 15 to Seamless Animation in ColorOS 16, smoothness has long been a defining quality of ColorOS. With ColorOS 17, OPPO takes this further, introducing the all-new Living Flow Design to make every interaction feel even more natural, continuous and responsive.

Living Flow Design is built around three core ideas: Luminous Effect, Fluid Motion and Flexible Feedback. Luminous Effect introduces softer, more translucent visuals, creating a refined sense of depth and hierarchy, while subtle lighting naturally guides attention and responds to touch. Fluid Motion enables interface elements to move, merge and transform seamlessly from one state to the next, with this sense of continuity carried throughout the system. Flexible Feedback brings the same sense of responsiveness to touch. Buttons, toolbars and other interactive elements visibly compress, stretch and rebound in response to taps, giving each interaction a more immediate and tactile feel rather than a mechanical response. Together, these elements create a more fluid and cohesive experience across the system, making everything from app transitions and Fluid Cloud to everyday interactions feel more immediate and intuitive.

To make this experience consistent across the system, ColorOS 17 introduces a Unified Rendering Architecture built on the refreshed Luminous Rendering Engine. By bringing previously separate rendering processes into a unified pipeline, the new architecture not only enables richer visual effects and more continuous transitions, but also reduces redundant rendering operations for greater efficiency. In key scenarios, it cuts rendering loads by up to 30% and RAM usage for rendering by up to 25% compared with the previous generation, helping interactions remain smooth even under heavy load.

Beyond visual rendering, ColorOS 17 also improves system-level responsiveness with the upgraded Laminar Flow Engine, an intelligent resource scheduling system built to handle increasingly complex mobile workloads. Built on OPPO’s Adaptive Scheduling Architecture, it coordinates foreground and background workloads as part of a unified flow, delivering consistently smooth performance across both everyday use and demanding scenarios.

With the Laminar Flow Engine, app launch stability improves by 55%, while Gallery thumbnails load up to 50% faster on first launch compared with ColorOS 16. During multitasking, ColorOS 17 can also keep over 25% more apps running in the background, helping users switch between apps more smoothly. 1

And smoothness is not only about how a phone performs today, but how well that experience holds up over time. In tests simulating six years of use, ColorOS 17 retains over 90% of its initial smoothness, even with storage at 90% capacity. 1

OPPO AI, Flow with Your Mind

ColorOS 17 expands OPPO AI with system-level agentic capabilities designed not only to answer questions, but also to help users complete complex tasks.

With ColorOS 17, AI Mind Pilot introduces a new Agent Mode that can work directly with photos and files stored on the device, search across multiple sources, use the appropriate tools and coordinate multiple steps to complete tasks based on the user’s request. It can find and organize scattered files, rename them based on their content and date, and use the information within them to create new outputs such as travel itineraries or webpages. It can also find photos from a specific trip, sort them into albums, and even turn a selected photo into a vlog cover or adapt it for different creative needs.

ColorOS 17 also introduces AI Photo Agent, making photo editing more intuitive while staying true to the natural look and authentic character of the original scene. With Style Match, users can simply provide a reference image, and AI Photo Agent can understand its color palette, tone and overall mood before applying a similar look to their own photo. Users can also describe the edits they want in natural language, or let AI Photo Agent analyze the image and recommend suitable adjustments based on the scene and subject.

AI Mind Space, OPPO’s personal information hub, receives a major upgrade in ColorOS 17. Users can now save documents and video links, with AI recognizing their content and turning it into structured, searchable personal memories. As saved information grows, the new Memory Collections automatically organize related memories into useful collections and summaries. For travel, it can combine remembered content with destination maps to create personalized trip plans based on the places, ideas and information users have saved.

The new AI Mind Suggest brings useful information and services to users at just the right moment. From a morning brief and timely travel reminders to flight and train cards that surface key journey information, AI Mind Suggest proactively helps users stay on top of what matters throughout the day. It can also recommend music when headphones are connected, making useful services available when they are most relevant.

Meanwhile, OSee brings OPPO’s visual AI capabilities together into one integrated experience. With a single press of the camera shutter, OSee can intelligently understand objects and scenes in view and connect users to services such as object recognition, knowledge lookup, nutrition analysis, high-definition scanning and translation. Instead of choosing between multiple separate tools, users can go directly from what they see to the service they need.

Security, Always On

ColorOS continues to place user privacy and data protection at the core of its AI experiences. OPPO’s Private Computing Cloud protects data used for cloud-based AI processing with end-to-end encryption and processes it within a secure environment designed to prevent access by third parties, including OPPO. ColorOS 17 further strengthens data transmission security with new post-quantum security capabilities in PCC. When data is transmitted between the device and the cloud, a dual-encryption mechanism helps protect information against emerging threats posed by quantum computing.

A new Transparency Report in ColorOS 17 gives users greater visibility into how their data is processed. The report provides information including which AI services have been used, when they were accessed and what operations were performed. Users can view the report directly on their device and export it whenever needed.

Proactive protection is also strengthened with the new AI Call Guard. Powered by on-device AI detection, AI Call Guard monitors calls in real time for emerging fraud risks such as synthetic voices and AI face swaps, alerting users when suspicious activity is detected to help protect both their communications and personal information.

Availability

ColorOS 17 will debut on the upcoming OPPO Find X10 Series, with additional OPPO devices receiving the update progressively.

For detailed rollout information, please refer to the official ColorOS website.

[1] Data from OPPO Lab.

2 AI Photo Agent will roll out gradually across multiple countries, with availability in Europe to follow at a later date. Monthly usage limits apply and vary by country or region. This feature supports static images only.

3 Long-doc Capture and Link Capture are not available in Europe.

4 Certain features, like MakeMyTrip Train Card, flight information reminders and Spotify music recommendations are only available in certain countries and regions.

5 Available in Indonesia, India and Thailand.

  




 

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