One of the biggest factors that will shape their social media spending is how much time users spend on each platform. In comparison, in 2015, that figure was at one hour and 51 minutes.Įach US company’s social media ad spend would vary according to their target market, business goals, and social media marketing budget. This translates to higher chances of getting eyes on your social media ads.Īs of Q3 2020, the average internet user spent two hours and 25 minutes a day on social media. Plus, the amount of time US consumers are spending on social media has also been increasing. With 3.96 billion social media users around the world (and growing), it’s no wonder brands are investing more and more into social media advertising. Social Media Ad Spend: Time Spent on Platforms In just a decade years, the total expenditure on social media will have more than quadrupled. In contrast, a 7.71 percent annual increase is projected for 2026.ĭespite the slowdown, the increase in social media ad spending will be nothing short of impressive. However, what makes the Facebook ad program truly special is the opportunity to select the exact audience that will view these ads. As previously mentioned, Facebook is used by people and companies that belong to a vast array of trades, industries, sectors and categories. In the four-year period from 2023 until then, however, average annual growth rates are forecast to slow to 8.8 percent.įrom 2017 to 2026, the biggest year-over-year growth rate came in 2018, where social media ad spend increased by a whopping 40.23 percent. Facebook ad campaigns let you target a specific audience. Expenditure is expected to breach the $70 billion mark in 2024 before further rising to $82 billion by 2025. US social media spending has been increasing over the past few years, recording a 24.6 percent average annual growth from 2017 to 2022.Īll signs are pointing to further-albeit slower-growth in social media ad spend in the coming years. This represents an 11.15 percent increase from 2021 and a slight deceleration in its growth rate from the previous year. In 2022, the total social media advertising spending by US companies is expected at just under $63 billion.
When we look at the hard numbers, the social media ad spend in the US says it all. There’s no question about the influence of social media and its power to grow a business.
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