Social media advertising grew over 40% last year, and over $15 billion was spent on it in 2014, according to a new report. Facebook ads are the biggest player in social media advertising, according to the Strategy Analytics report:
“Ad spend on social networks grew a robust 41 percent globally in 2014 totaling over $15.3 billion, accounting for 11 percent of global digital ad spend. Facebook accounted for three-quarters of global social network ad spend in 2014, while Twitter accounted for 8 percent. In 2015, ad spend on social networks is expected to grow by 29 percent, totaling $19.8 billion.”
Social media and social media advertising will continue to grow, says Leika Kawasaki, author of the report:
“Overall, the social network market continues to show strong growth across all regions as the major social network platforms drive usage and engagement via improved integration of digital media content. While Facebook currently dominates the global social network market, its absence in China allows local social networks such as QZone and Tencent Weibo to gain traction in the rapidly expanding Chinese digital advertising market. Overall, global social network advertising spending accounted for 11% of global digital advertising spend in 2014 (to learn more about the advertising market please see the Digital Media Strategies (DMS) Global Advertising Forecast. We estimate social network advertising spending will grow by 29% in 2015, totaling $24.2 billion. “
Here are some some more interesting findings from the reports:
- Nearly half (46%) of social network users reside in the Asia Pacific region.
- China accounts for almost 25% of global social network users with 495 million users in 2014.
- North America had the highest ratio of social network users to its population (64%) in 2014, followed by Western Europe at 55%.
- The US accounts for the largest share of global social network ad spend (41%), totaling $6.2 billion in 2014, up 35% YoY.
- The UK. is the second largest market for social network ad spend, accounting for 8.2% of global social network ad spend in 2014, just edging out China (8%).
- The US had the highest social network ad spend per social network user at $31.37 in 2014. This is expected to grow 27% to $39.84 in 2015.
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