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SENSOR TOWER · SEEMA SHAH · SEPTEMBER 2023
MMM: LinkedIn Advertising Trends in August 2023
LinkedIn's revenue reached over $15 billion in Microsoft's 2023 fiscal year, but fell short of the 2Q forecast due to declines in marketing solutions and lower ad spend. This may be because LinkedIn's campaigns are more expensive than other social networks. Paris became the first European city to ban e-scooters, which faced challenges such as regulatory restrictions, high temperatures, and competition from other transportation options, leading to a decline in downloads and monthly active users.
Key Takeaways:
Over the past 4 months, May’23-Aug’23, the top categories of advertisers on LinkedIn by US ad spend were Software, Business & Industrials, Financial Services, Jobs & Education, and Health & Wellness, per Pathmatics by Sensor Tower data
From May’23 to Aug’23, Amazon, IBM, American Express, Google, and Chevron were the top 5 largest individual advertisers on LinkedIn, by US ad spend, accounting for ~9% of total spend on the network
Paris officially became the first European city to ban e-scooters, though other cities have placed greater restrictions on the use of e-scooters within city limits to curb usage. Per ST data, downloads and MAUs of apps in the e-scooter cohort were down a collective average of 31% and 13% YoY, in Aug’23, respectively, as increased restrictions, record-high heat, and alternative transportation methods weighed on growth
E-scooter apps typically rely on seasonal boosts to drive increased adoption and usage but this may be under threat with the growing number of restrictions put in place: Between May’23-Aug’23, download totals and MAUs for the e-scooter cohort increased a collective average of 79% and 22%, respectively, compared to the prior four month period (Jan’23-Apr’23)
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