Core Insights - The 2025 AppsFlyer report highlights a shift in the mobile advertising landscape towards a distributed competition model, driven by privacy regulations and AI technology, moving away from the previous duopoly of Google and Meta [3][9] - The report emphasizes the importance of creative material as a key competitive factor, with different platforms requiring tailored content for optimal performance [4][5][9] - Non-gaming categories have emerged as the primary growth engine in advertising, with sectors like short videos and fintech showing significant potential [6][9] Group 1: Market Dynamics - The advertising budget distribution is becoming more balanced across various channels, with the top platforms now including around ten major players instead of just two [3][9] - The trend of budget concentration towards leading platforms continues, with 60% of the top five media channels experiencing annual growth, and the growth rate for channels ranked 6 to 10 reaching 80% [3][9] - Advertisers are diversifying their spending to mitigate risks associated with traditional platforms, while also prioritizing efficiency through advanced algorithms and data [3][4] Group 2: Creative Material and Adaptation - The introduction of the "creative index" in the report indicates that material quality is now a critical variable in advertising effectiveness, as algorithmic differences among platforms diminish [4][9] - Different platforms exhibit significant variations in material type adaptability, necessitating a shift from a one-size-fits-all approach to a more precise adaptation strategy [4][5] - The production capabilities of creative content are becoming a core competitive advantage for both advertisers and platforms, especially with the rise of AI-generated video technology [5][9] Group 3: Growth Opportunities - Non-gaming sectors are now the main battleground for advertising growth, with short videos and AI tools showing particularly strong performance [6][9] - The gaming sector is also evolving, with a focus on long-term operations rather than short-term volume, as seen in the success of mid-core games [6][7][9] - The adaptation of AI technology across the marketing chain is crucial for achieving a fully automated marketing loop, although organizational structures must align with these new technologies for optimal results [8][9]