The US’ second-biggest ad market rallied in 2023 thanks to ad buyers in China and investments in automation paying off.
At the beginning of 2023, an unusual swath of clouds hung over the US social advertising market. Today, those clouds have largely dispersed, thanks to significantly higher ad loads, a continued focus on performance advertising, and a huge influx of ad spending from China.
Key Question: What’s behind the upswing in the social ad spending market?
Key Stat: We expect social ad spending to grow 13.5% in 2024.
Key Report Features:
- 2 Exportable files for easy reading, analysis and sharing.
- 6 Charts: Reliable data in simple displays for presentations and quick decision making.
- 2 Expert Perspectives: Insights from industry and company leaders.
Table of Contents
- Executive Summary
- The US social ad spending market has steadied itself
- What this forecast covers
- Meta at a glance
- Facebook: Back to growth
- Instagram: More logs for the fire
- TikTok: Still rolling
- Pinterest: Leaning into the bottom of the funnel
- Snapchat is still making its way out of the wilderness
- X has put a target on its back
- Insider Intelligence Interviews
- Sources
- Media Gallery
Charts
- US Social Network Ad Spending Forecast for 2024 Is Now 10% Higher
- Social Will Just Retain Its Title of Second-Biggest Ad Spending Channel Through 2027
- By 2025, Facebook and Instagram's US Ad Revenues Will Be Nearly Identical
- TikTok Will Account for More Than 10% of US Social Ad Spending in 2024
- TikTok's Average US Ad Revenue Per User Will Be More Than Triple Snapchat's in 2023
- 2024 Estimate for X's US Ad Revenue Is About One-Third What We Estimated in Q4 2022
Interviewed for This Report
- Natasha Blumenkron - Tinuiti, Vice President, Paid Social
- Chris Costello - Skai, Senior Director, Marketing Research
Companies Mentioned
- TikTok
- Instragram
- Snapchat
- Meta
