Advertising on social media continues to gain more and more power and advertisers seem to be investing more and more money into it.
According to a eMarketer research, by 2017, social network ad spending will reach $35.98 billion, representing 16.0% of all digital ad spending globally.
The spending also increased in 2015, compared to 2014 by 33.5% ($23.68 billion).
The report also said that North American advertisers spent about $50 per user in 2015, and this will increase to $71.37 in two years – a reflection of growing spending against a maturing user base.
eMarketer’s report also says that the US and China will be the leading individual countries in social network ad spending for the foreseeable future, collectively commanding more than half the worldwide market through 2017.
At a company level, Facebook is dominating the paid social advertising landscape globally. According to the report, Facebook’s ad revenues grew in 2015, compared to 2014. In 2014, Facebook owned 64.5% of the social ad market.
eMarketer bases all of its forecasts on a multipronged approach that focuses on both worldwide and local trends in the economy, technology and population, along with company-, product-, country- and demographic-specific trends, and trends in specific consumer behaviors.