New ad formats on Instagram aim to help the tech titan recoup ad revenue losses amid ongoing troubles. With users leaving Meta-owned platforms in droves and Apple’s privacy-centric iOS updates chipping steadily away at the company’s ability to serve targeted ads – the tech giant is in a bit of a pickle. Or, as CNBC has put it, a “death spiral.” The company posted the first quarterly dip in revenue in its history in the second quarter.A year after the company saw its valuation hit an all-time high of $1tn, the tech giant has now lost about two-thirds of that value. At the tail end of September, the company’s stock tanked to its lowest value since 2019.In an effort to recoup declining returns on advertising, the company today announced it is adding new ad formats to Instagram. Advertisers on the app will soon be able to place ads on users’ Explore home tab as well as within user profile feeds. “Explore home, the grid that people see when they first arrive on the Explore tab, will now feature ads to reach people in the earliest stages of discovering new content they care about,” the company said in a blog post…
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Instagram Debuts Ads In User Profile Feeds As Meta Fights To Reverse Revenue Declines
