Digital Advertising

Reddit Q4 2025 earnings: 75% ad revenue growth, SMB revenue doubles

Reddit reported its Q4 2025 earnings last night: Total revenue increased by 70% year-over-year to $726MM. Ad revenue increased 75% to $690…

February 6, 2026

Podcast: Ads in ChatGPT (with Rishabh Jain)

https://open.spotify.com/episode/7a1DtNqSncQLyknOMP8stb?si=02dddf9c6e99452f My guest on this week's episode of the podcast is Rishabh Jain, the CEO and co-founder of FERMÀT Commerce, an…

February 3, 2026

Amazon-OpenAI: advertising, not agentic commerce

Amazon CEO Andy Jassy participated in an interview with The Information's Jessica Lessin at Davos two weeks ago in which…

February 3, 2026

Meta Q4 2025 earnings: 18% engagement-led impression growth, focus on AI-driven advertising efficiency

Meta released its Q4 2025 earnings results yesterday: Advertising revenue increased by 24.3% on a year-over-year basis, to $58.1BN; Impressions served across the…

January 29, 2026

OpenAI should know better

The Information reports that OpenAI is launching its advertising product without advanced targeting or measurement tools, with CPM billing, and…

January 28, 2026

Can Meta recover leadership in mobile games advertising?

One of my predictions for mobile gaming in 2026, published earlier this month, is that "Meta aggressively pursues growth in…

January 27, 2026

Humanity scale

Back in October 2023, in an interview on Ben Thompson's Stratechery podcast, I made a point about the distinction between…

January 21, 2026

OpenAI embraces the inevitable: ads come to ChatGPT

Fata viam invenient. -Virgil OpenAI announced today that it will soon ("in the coming weeks") begin testing advertising in its…

January 16, 2026

Reddit launches its answer to Advantage+ and PMax

Reddit has launched Max Campaigns, its answer to Meta's Advantage+ and Google's Performance Max, into beta. From the company's press…

January 7, 2026

Podcast: GenAI in CTV advertising (with Jonathan Moffie)

https://open.spotify.com/episode/0qzCFZPY2NVorIQmMvadkZ?si=29c9f4cc9e554b6e My guest on this episode of the podcast is Jonathan Moffie, the Head of Agentic Product at Magnite, the…

January 6, 2026