The traditional dominance of Google and Facebook in digital advertising is facing a growing challenge from Amazon.com Inc., TikTok and streaming services, new research says.

In 2022, Alphabet's Google, Meta's Facebook and their respective subsidiaries accounted for a combined 48.4% of U.S. digital-ad spending, according to estimates from Insider Intelligence. This is the first time that their combined market share has fallen below 50% since 2014, the Wall Street Journal reports. Insider Intelligence predicts that the combined market share of the two companies will fall to 44.9% in 2023 and 43.9% in 2024.

Meta declined to comment on the research, but, during the conference call to discuss the company’s third-quarter earnings, CEO Mark Zuckerberg described ads as a top investment priority. Meta is also scaling monetization of its Reels video format across both Instagram and Facebook, with the combined run rate across both apps now $3 billion, according to Zuckerberg. He also described the company’s click-to-message ads as one of Meta’s fastest-growing ad products, with a $9 billion annual run rate.

Additionally, Meta recently started testing three new advertising types for Instagram, along with two new advertising types on Facebook focused on the Reels format.