For the first time, advertising spend on social media this year will overtake print media worldwide, according to Publicic-owned media agency Zenith. The agency estimates that spending on social media will jump 20% to $84 billion this year, while magazines and newspapers spending will drop 6% to $69 billion. Social media platforms have many advantages over traditional media, such as first-party data about the users for targeted ads, user experience data and many other tools to create geo-targeted campaigns.
The growth of social media will expand the social media’s share of global ad spend to 13%. This makes social media the third biggest ad channel behind TV and paid search this year. The main source of this growth are the digital brands and small businesses whose ad budgets have been focused on localisation capabilities of online platforms. Meanwhile, companies like Facebook and Google have seen double-digit growth in ad spending and that is predicted to continue. With various companies, the younger platforms have been showing the fastest increases in ad revenue such as Pinterest 62%, Snapchat 48% or Twitter 21%.
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