With the end of Google’s third-party cookies set to take place in 2023, companies are looking to digitally transform their offering and move to a first-party data revenue strategy, to protect themselves against major financial losses. As Google is the biggest player in the market, this move follows the pattern of other browsers such as Firefox, Edge, and Safari. ADvendio’s customers have stated that they are set to lose up to 40% of advertising revenue due to the deprecation of third-party cookies.
Research by McKinsey & Company suggests that publishers risk losing USD$10bn (£8.2bn) in revenue due to reduced personalisation and audience targeting capabilities. The industry is hesitant about what the future of first-party data holds for their business and more importantly their bottom line. With no official date set for the termination of third-party cookies, companies are trying to get their new strategies and systems in place before it’s too late.
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