AppLovin Corp (NASDAQ:APP) is gaining share of e-commerce advertising budgets as brands increase spending on the platform, according to a Jefferies survey of advertisers using the company’s advertising technology in the second quarter of 2026.
Jefferies surveyed 30 e-commerce and web advertisers using AppLovin in 2Q26 and found that AppLovin’s share of advertiser budgets increased by 169 basis points compared with the fourth quarter of 2025, reaching 11.1% of spend in 2026
The firm noted that AppLovin maintained its position among the top three advertising networks by both budget share and return on ad spend (ROAS), ranking just ahead of TikTok. The survey found that TikTok also gained share during the period, while Meta and Google accounted for most of the budget share losses. Jefferies wrote that the shift was primarily driven by advertisers diversifying incremental ad spend toward platforms including AppLovin and TikTok rather than reducing spending on Meta and Google.
The survey captured a greater proportion of advertisers that had joined AppLovin in the fourth quarter of 2025, with those advertisers representing 23% of respondents compared with 7% in Jefferies’ previous survey. The firm noted that these newer advertisers have continued to scale spending throughout 2026. Jefferies also highlighted improving feedback on AppLovin’s generative artificial intelligence tools.