Social Media Firms Brace for Slow Global Revenue Growth Amid Competition From Apple, TikTok

Social media firms could see slowing revenue growth in the second quarter, as the sector battles competition from Apple and TikTok. After a blowout in 2021, companies like Meta and Snap have warned that the tide could be turning for the industry as inflation lingers around 40-year-highs and brands are spending less on advertising than before.