In graphic detail: Six thousand brands later, ChatGPT ads still have a conversion problem
OpenAI has ambitious ad revenue targets, which depend on advertiser demand, measurement and monetisation.
In recent months, ChatGPT has become responsible for around one-fifth of the search queries Google receives. While its advertising revenue lags considerably behind, it is still a burgeoning sector for OpenAI. The company launched its ad offerings this year, and as such, the format and extent of advertising have yet to fully develop.
OpenAI has been cautious about the amount of advertising they display to users who are specifically seeking out ChatGPT. The lag between usage and advertising is a significant challenge for OpenAI, and the company is keen to address this issue promptly. Advertisers are already testing the limits of how quickly they can adapt to this evolving landscape.
The potential for growth within the markets where OpenAI currently operates is substantial. According to data from Similarweb and Graphite, the United Kingdom has the highest percentage of ad-eligible ChatGPT users seeing ads (45.7%), followed closely by the United States (43.4%) and Australia (43.3%).
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