[eMarketer] As it enters its 'year of efficiency,' Meta tries to regain its focus

Given all the talk of the metaverse, there’s a perception among advertisers and investors that the company has lost direction. Meta technology chief Andrew Bosworth even suggested as much in his personal blog over the weekend, saying that the company was more focused in its early years, and challenges arise with being large.

Advertisers have been asking the company to concentrate on its main advertising business, which is facing challenges including slackening spending, increased competition from players like TikTok, and Apple's year-and-a-half-old privacy regime.

The company has been widely criticized for leaning too hard into its metaverse ambitions—which may bear fruit, but its timing and lack of a compelling product make it hard to defend in today’s market.

If Meta executes well, it can bounce back from its 2% ad revenue drop last year and return to growth in 2023, 8.2% according to eMarketer latest forecast.

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