Advertising on social networks to top $23bn this year
The latest survey of advertising trends conducted by eMarketer has indicated that the amount of advertising spent on social networks will top $23bn in 2015, a whopping 33.5 per cent increase on the year before.
What’s more this growth rate is expected to continue through to 2017 when the sector will account for £36bn in sales, accounting for 16 per cent of total global ad spend.
Dominating social media spend are North America, Asia Pacific and Western Europe where spend will hit $10bn, $7.4bn and $4.74bn
More impressive still is the ad spend per user in the US and Canada which now equates to $50, a figure that is expected to increase further to $71 in just two years. This contrasts markedly with Asia pacific where the respective figures are just $8 in 2015 and $10.5 in 2017.
In a statement the digital firm said: “At a company level, unsurprisingly, Facebook is dominating the paid social advertising landscape globally. eMarketer estimates the company will make $15.5bn in ad revenues in 2015, which would account for 65.5 per cent of all social network ad spending worldwide. Facebook owned 64.8 per cenrt of the social network ad market in 2014.
“Twitter is also gaining share, expected to take 8.8 per cent of all social network ad spending this year, or $2.09bn, up from 7.1 per cent share in 2014. LinkedIn, the other major US-based social ad seller for which eMarketer forecasts ad revenues, will make $900m in advertising this year, but its share of social ad spending worldwide will dip to 3.8 per cent, down from 4.2 per cent in 2014.”