It is predicted to account 13% of global ad spend in 2019, to reach $640 billion.
This article cites Zenith’s Advertising Expenditure Forecast report stating that, for the first time, social media ad spend has overtaken press. Where social media ad spend is predicted to jump 20% to $84 billion, press could decline by 6% to reach $69 billion by the end of 2019.
Social media will account for 13% of global ad spend. TV will attract 29% of global ad spend and paid search is expected to be 17%. However, agencies are unlikely to reap benefits of the social media ad spend growth.
North America’s growth is a result of mushrooming small and medium-sized companies that advertise on Facebook and Google. Additionally, the report predicts paid search advertising to exceed $100 billion for the first time.
[2 minute read]