According to analysts, online travel giant Booking spent more than $1 billion in advertising on Google in the third quarter.
Booking has Booking.com in Europe, and Priceline and Kayak in the US. The company said yesterday that it spent $1.3 billion on performance marketing in the third quarter, up from $1.2 billion in the same period last year.
According to Booking, the so-called "performance marketing" mainly refers to spending on Web search engines, especially Google. It's not hard to understand that Booking spends most of its "performance marketing" expenditure on the Google platform, because too many tourists use Google to search for travel information, such as "Fly to New York" and "London Hotel".
Mark Mahaney, an analyst at RBC Capital Markets, predicts that more than 80% of Booking's "performance marketing" spending will go to Google's search engine. That means more than $1 billion in investment, equivalent to 3.6% of Google's advertising revenue in the third quarter.
Mahaney said that Booking should be one of Google's five largest direct customers in the world. To this end, Mahaney gave Booking stock "buy" rating. (Li Ming)
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