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A new report from eMarketer forecasts that Facebook and Instagram will control nearly 65 percent—the equivalent of roughly $16.3 billion—of brands' social-media budgets this year, while Twitter's share will fall.
The research firm said today it expects overall social ad spending to hit $25.1 billion in 2015, up from a $23.7 billion projection in April. EMarketer's estimates are largely driven by Facebook and Instagram's ad business, which is expected to grow 42 percent from 2014.
After opening its promos to all advertisers a few months ago, Instagram will bring in $600 million this year, or about 5 percent of Facebook's total ad revenue, according to eMarketer.
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