It is no great mystery as to how or why Google’s Ad business is losing share to Amazon and Facebook. People are increasingly conducting product searches on Amazon and are entertaining themselves on Instagram. Thus, advertisers increasingly want to be on Amazon and Facebook. Video game platforms are another competitor Google should be concerned with (Google’s Stadia gaming platform will help mitigate this risk).
How may this evolve over time? Amazon for one is running Ads on certain Prime movies to help grow Ad revenue. Perhaps Apple will scale an Ad business as it scales Apple TV. Video games are the Entertainment destination where advertisers will increasingly place Ad investment dollars, predominantly in the form of product placements.