Global ad spending on social media will total $23.68 billion this year and reach $35.98 billion by 2017, accounting for 16 percent of all digital ad spending worldwide, according to the latest projections from digital consultancy eMarketer.
eMarketer predicted that advertisers in the U.S. and Canada will boost ad spending on social networks by 31 percent in 2015, topping the $10 billion mark.
As for other regions, eMarketer pegged the Asia-Pacific 2015 total at $7.4 billion and Western Europe at $4.74 billion, followed by a steep drop-off, with Latin America tallying $680 million and central Europe, Eastern Europe and the Middle East and Africa far behind.
In terms of amount spent per user, advertisers in the U.S. and Canada will shell out more than $50 in 2015, jumping to $71.37 in 2017, while Asia-Pacific advertisers’ respective per-user totals were projected at $8.04 and $10.54 by eMarketer.
eMarketer sees U.S. advertisers spending $9.59 billion on social ads in 2015, up 2014 from the previous year and more than double the 2013 total. That figure will reach $14.4 billion in 2017, eMarketer projected.
China finished a strong second behind the U.S., with eMarketer pegging its 2015 total at $3.41 billion, leaping to $6.11 billion in 2017, or 12.5 percent of all digital ad spend in the country.
Breaking it down by specific social network, eMarketer wrote:
At a company level, unsurprisingly, Facebook is dominating the paid social advertising landscape globally. eMarketer estimates that the company will make $15.5 billion in ad revenues in 2015, which would account for 65.5 percent of all social network ad spending worldwide. Facebook owned 64.8 percent of the social network ad market in 2014. Twitter is also gaining share, expected to take 8.8 percent of all social network ad spending this year, or $2.09 billion, up from a 7.1 percent share in 2014. LinkedIn, the other major U.S.-based social ad seller for which eMarketer forecasts ad revenues, will make $900 million in advertising this year, but its share of social ad spending worldwide will dip to 3.8 percent, down from 4.2 percent in 2014.
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