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WARC Report: Meta to Lead Social Media Ad Market, Surpassing $155.6B by Year's End

Arooj Ahmed2 weeks ago

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warc-report:-meta-to-lead-social-media-ad-market,-surpassing-$155.6b-by-year's-end — WARC Report: Meta to Lead Social Media Ad Market, Surpassing $155.6B by Year's End

The report on Social Media Ad Trends by WARC suggests that Meta is going to overtake in revenue for global social spend. According to the predictions, Meta’s revenue is going to cross $155.6 billion by the end of 2024. This makes up about 63% share in global social spend. Facebook and Instagram have grown a lot in Q1 of 2024 and it’s all thanks to investments from Chinese exporters and Meta incorporating AI tools in the apps. Both Facebook and Instagram have grown 20% YoY in 2024.

The researchers from WARC say that Meta is soon going to take over global linear TV in advertising spend in 2025. The research also revealed that most of the world’s advertising is done through social media, making it the biggest advertising channel in the whole world. It has even overtaken paid search ads. By the end of 2024, the global ad spending for social media is going to reach $247.3 billion which will be 14.3% YoY more than last year.

As Meta is going to take over global linear TV, this means it will dominate over other platforms which will present many challenges for brands and social media platforms will get extremely cluttered. TikTok is close behind Meta, despite facing a potential ban in the USA.