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Advertising Industry: Difference between revisions
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'''Social media''' formats (Facebook, Instagram, Tiktok …) will re-accelerate +6% to $66bn after stalling in 2022 (+2%) due to headwinds including audience maturity and the data targeting limitations established in 2021.<ref>https://magnaglobal.com/us-ad-market-update-march-2023/</ref> | '''Social media''' formats (Facebook, Instagram, Tiktok …) will re-accelerate +6% to $66bn after stalling in 2022 (+2%) due to headwinds including audience maturity and the data targeting limitations established in 2021.<ref>https://magnaglobal.com/us-ad-market-update-march-2023/</ref> | ||
==== | ==== Insider Intelligent ==== | ||
After years of social media being one of the most powerful engines of digital ad spending growth, 2022 saw the first meaningful decline in social’s share of digital ad spending since Insider Intelligence began tracking it in 2008. This was, in part, due to the rise of retail media and connected TV (CTV), plus a radical slowdown in growth caused by ATT.<ref>https://www.insiderintelligence.com/insights/social-media-paid-ads/</ref> | |||
Previously expected $33.98 billion in social network video ad spending by 2022, and that figure has now been slashed to $29.82 billion—a difference of more than $4 billion. These staggering reductions are the result of a perfect storm starting in 2021—with Apple’s rollout of its AppTrackingTransparency framework, followed by a downturn in the global economy due to persistent inflation, soaring interest rates, supply chain disruptions, and the Russia-Ukraine war. | |||
==== Public Companies ==== | ==== Public Companies ==== | ||