Oracle Corporation has announced its decision to exit the advertising business, citing a significant decline in revenue. CEO Safra Catz disclosed during an investor call that advertising revenue dropped to approximately $300 million in fiscal 2024, down sharply from $2 billion reported two years ago.

Key Details:

• Revenue Decline: Oracle's advertising segment saw a drastic revenue decline from $2 billion to $300 million in fiscal 2024.
• Wind Down Plans: Catz did not elaborate on the specific plans for winding down the advertising business.

Expert Opinion: According to Adam Schenkel, EVP of global platform strategy and operations at GumGum, Oracle's exit presents a "significant opportunity" for other players in the advertising industry amidst ongoing innovations and shifts away from traditional data practices.

Oracle's decision to withdraw from advertising marks a notable shift in strategy following challenges such as regulatory pressures and evolving data privacy concerns. The company's exit opens doors for competitors while prompting industry-wide reflections on the future of digital advertising.