Jan 18, 2024
Projected Trends in Paid Social Spending, 2025.
Social media advertising is poised for significant growth and dominance in the digital advertising landscape:
Global social media ad spend is forecast to reach $247.3 billion in 2024, growing 14.3% year-over-year.
By 2024, social media advertising is projected to capture 59.6% of total global ad spend.
The social media advertising market is expected to show an annual growth rate (CAGR 2024-2028) of 10.96%, resulting in a projected market volume of $333.50 billion by 2028.
Key Drivers:
Meta (Facebook and Instagram) continues to dominate, projected to earn $155.6 billion in ad revenue in 2024, representing a 63% share of global social spend.
TikTok's ad revenue is forecast to reach $23.1 billion in 2024, despite slowing growth.
Pinterest and Snapchat are expected to see strong growth, with ad revenues increasing by 17.3% and 13.7% respectively in 2024.
Mobile Ad Spending
Mobile advertising is set to maintain its upward trajectory:
Global mobile ad spending is projected to surpass $400 billion in 2024, up from about $360 billion in 2023.
In the US, mobile ad spending will cross $200 billion in 2024, representing 51.2% of total media spend and 66% of digital ad spend.
Mobile internet advertising spending worldwide is forecast to increase from $276 billion in 2020 to nearly $495 billion in 2024.
Key Trends:
In-app dominance: Apps are expected to capture 81.9% of mobile ad spending in 2024.
Video growth: In-app video ad spending is projected to increase by 20.4% year-over-year in 2024, reaching $61.11 billion.
Social platforms as search engines: Nearly 50% of internet users aged 16-34 use social networks as a primary source for brand research.
Influencer marketing: 84% of brands plan to work with influencers and creators, with a focus on micro-influencers (1K-100K followers).
AI integration: Marketers are expected to leverage AI tools for personalized content creation and strategy optimization.
Community building: 79% of marketers consider an active social media community integral to their overall strategy.
Short-form video content: This format will continue to gain importance across platforms.
As the digital landscape evolves, advertisers will need to adapt their strategies to capitalize on these trends, focusing on mobile-first approaches, leveraging social platforms for both advertising and search, and creating engaging, personalized content that resonates with their target audiences.
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