Platform & Internet Sector Deep Dive
Global internet platform companies are entering a new growth phase through AI technology integration. Advertising market recovery and subscription economy expansion are driving revenue growth.
Key Trends
Meta and Google's AI Ad Innovation: Meta has significantly improved ROAS through AI-powered ad targeting enhancement, while Google continues ad revenue growth through AI Overview and search ecosystem innovation. Both companies are successfully monetizing short-form content like Reels/Shorts.
Amazon's AWS and E-commerce: Amazon is achieving dual-engine growth through AWS cloud AI service expansion and e-commerce profitability improvement. Prime Video advertising is also emerging as a new revenue stream.
Naver and Kakao's Strategies: Naver is securing growth momentum with HyperCLOVA X AI and global webtoon/commerce businesses. Kakao is focusing on content business restructuring and AI KakaoTalk enhancement.
Netflix's Ad Tier Growth: Netflix has entered a new growth phase as its subscriber base expands following the introduction of ad-supported plans.
Investment Outlook
The platform sector maintains a bullish outlook due to productivity gains from AI integration and advertising market recovery. US Big Tech's solid performance and Korean platforms' turnaround potential are noteworthy.
Risk Factors
Key risks include antitrust regulation tightening, privacy regulations, and AI-related content copyright issues.