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Social Media Ad Boom! Spending Set to Explode to $300 Billion in 2024

Social media is on fire! Ad spend forecast to surge past $300 billion by 2024. Is your brand ready?
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Advertising spending on social media has more than doubled since 2020. What innovations are leading this trend? And which countries are involved in this upheaval? Discover the impact of this exponential growth.


Meteorological rise since 2020

Since the onset of the COVID-19 pandemic, the social media ad spending landscape has undergone a major transformation.

The amount invested by companies has more than doubled since 2020, indicating a significant increase in the reach and influence of these platforms.

In 2022, social networks had 4.7 billion users, consolidating their position as an essential market for advertisers and brands.

Expenditure forecasts

Social media ad spending is on track to surpass $300 billion by 2024, marking 33% growth in just two years.

This upward trend shows no signs of slowing down, with a projection reaching $332 billion by 2025.

Investments continue to increase, particularly with the adoption of new forms of advertising such as live streaming, creating new opportunities for brands.

Overall economic impact

The global economy is seeing a redistribution of advertising spending, with key markets like the United States and China dominating investment.

However, China is expected to overtake the United States as the largest social media advertising market as early as next year, with spending reaching $96 billion in 2023 and nearly $110 billion in 2024.

Leadership of Meta and the Rise of TikTok

Platforms under the Meta umbrella (notably Facebook and Instagram) continue to dominate the market with nearly 45% market share.

However, ByteDance with TikTok is starting to mark its territory by securing 25% of the market share in 2022. Other players like Snapchat, LinkedIn, and Tencent maintain a stable presence with 5% each.

Social Media Ad Spending Skyrocketing: Get Ready for the Boom!

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