Between January to July 2022, influencer videos constituted ** percent of video views on Facebook. Media company videos followed with ** percent of video views, while brand and aggregator content came last with *** percent.
During a late 2023 survey carried out among marketing professionals worldwide, 90 percent of respondents stated they used videos on YouTube for marketing purposes. Facebook was the second-most commonly named platform, mentioned by 86 percent of respondents. TikTok was used by 69 percent of interviewed marketers.
In May 2025, spending on online video advertising on Facebook in South Korea amounted to around ***** billion South Korean won. Facebook was one of the leading media platform for online video ads within the country, alongside YouTube and Instagram.
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On a brisk January morning, Sarah, a small business owner in Ohio, launched her very first Facebook ad. With a modest $150 budget, she was hoping to generate a few leads for her new skincare line. Within three days, her ad reached over 12,000 people, and she closed 18 sales,...
Among the countries presented in the dataset, Facebook’s highest advertising cost-per-mille (CPM) was in the United States, valued at ** U.S. dollars. For comparison, the lowest CPM, *** U.S. dollars, was recorded in India. What are other Facebook advertising costs and metrics? Cost-per-click (CPC) is another popular metric when it comes to advertising on the social platform. Globally, the average CPC on Facebook stood at ** cents at the end of 2024. This means that campaigns aiming at app installs, lead generation and product catalog sales are the most expensive, whereas campaigns targeting post engagement, messages and video views are on the opposite side of the spectrum. How does Facebook compare with other social media among marketers? The majority of marketers indicate that Facebook is the most important social platform for their business, with ** percent of respondents using the platform, compared to ** percent on LinkedIn. However, with recent data breaches, Facebook has seen some decrease in growth. Its position is still strong enough that marketers increase their spending on the social network. However, Instagram seems to be overtaking the older platform, and more industry professionals are planning to increase investments in the photo sharing platform than in Facebook.
In 2019, social video ads published on Instagram had a clickthrough rate of **** percent among 18-to-24-year-olds. YouTube video advertising had the lowest CTR compared to Instagram and Facebook among all age groups, and the latter publisher was the most successful in reaching senior consumers with video ads.
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The primary demand advertising market, encompassing strategies focused on reaching users before they actively search for products or services, is experiencing robust growth. While precise market size figures for 2025 are unavailable, a reasonable estimate based on industry averages and the provided timeframe (2019-2033) suggests a market valuation in the tens of billions of dollars. The compound annual growth rate (CAGR) reflects a consistently expanding market driven by several factors. The proliferation of connected devices and increased digital media consumption fuels this growth, providing advertisers with more avenues to reach their target audiences proactively. Furthermore, advancements in programmatic advertising and sophisticated targeting technologies allow for more efficient and effective primary demand campaigns, contributing to higher ROI and increased advertiser investment. Key trends include a shift towards video advertising formats, a greater emphasis on cross-channel campaigns leveraging both online and offline touchpoints, and the growing importance of data analytics for campaign optimization. However, challenges remain. Increasing concerns about data privacy and the rise of ad blockers pose significant restraints to market expansion. The effectiveness of primary demand advertising hinges on creative and compelling messaging that captures attention before users exhibit purchase intent. Competition is fierce, with major players like Facebook, Google, and others vying for market share. These companies utilize sophisticated algorithms and vast user data to deliver targeted primary demand ads. However, the fragmented nature of the market also presents opportunities for specialized agencies and technology providers, such as WordStream, Sizmek, and Marin Software, that cater to specific industry needs and offer innovative solutions. Regional variations exist, with North America and Europe likely accounting for a significant portion of the market, while Asia-Pacific and other regions show increasing growth potential. The forecast period (2025-2033) suggests sustained growth, driven by technological innovation, evolving consumer behavior, and the continuous need for brands to effectively reach their target audiences before competitors. Accurate forecasting, however, depends on factors like regulatory changes surrounding data privacy and the evolving landscape of digital advertising technologies.
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The global digital advertisement spending market is experiencing robust growth, driven by the increasing adoption of digital channels across various demographics and business sizes. The market's expansion is fueled by several key factors. Firstly, the ever-increasing internet and smartphone penetration worldwide provides a vast and expanding audience for digital ads. Secondly, the sophistication of targeting capabilities allows advertisers to reach highly specific consumer segments with personalized messaging, resulting in higher conversion rates and return on investment (ROI). Thirdly, the rise of new advertising formats, like video and interactive ads, coupled with programmatic advertising's automation, enhance efficiency and effectiveness. Finally, the continuous innovation in ad technologies and data analytics enables more precise measurement and optimization of ad campaigns. While challenges remain, such as ad blocking and increasing concerns around data privacy, the overall trajectory of the market suggests continued significant expansion. The market is segmented by application (large enterprises and SMEs) and ad type (website, mobile application, video advertising, and email). Large enterprises currently dominate spending, but SMEs are showing substantial growth potential as they increasingly embrace digital marketing strategies. Among ad types, video advertising is experiencing the most rapid growth due to its engaging nature and increasing availability on diverse platforms. Geographically, North America and Europe are leading the market due to their high internet penetration and strong digital economy. However, Asia Pacific is emerging as a rapidly growing region, driven by the expanding internet user base in countries like China and India. The market is highly competitive, with prominent players like Google, Facebook, Amazon, and others vying for market share. This competition drives innovation and fuels the overall market growth. The forecast period, from 2025-2033, suggests a sustained period of expansion, with digital advertising remaining a cornerstone of marketing strategies across industries globally.
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The programmatic display advertising market is experiencing robust growth, driven by the increasing adoption of automation in digital advertising, the rise of data-driven targeting, and the expanding reach of connected devices. The market's value is substantial, with a projected Compound Annual Growth Rate (CAGR) allowing for significant expansion over the forecast period (2025-2033). Key players such as Google (DoubleClick), Facebook, Amazon, and others are heavily invested, fueling innovation and competition within the sector. The market segmentation is likely diverse, encompassing various advertising formats (e.g., banner ads, video ads, native ads), targeting methods (e.g., contextual, behavioral, demographic), and industry verticals. The growth is further propelled by the increasing availability of high-quality data and advanced analytics, enabling advertisers to optimize campaigns with greater precision and effectiveness. Challenges remain, including concerns around ad fraud, brand safety, and data privacy, which require ongoing attention and technological solutions. The significant players listed – Facebook, Google, Alibaba, and others – represent a concentrated but fiercely competitive landscape. Their influence stems from their extensive user bases, technological capabilities, and data resources. Regional variations are expected, with North America and Europe likely dominating initial market share due to established digital advertising infrastructure and consumer habits. However, Asia-Pacific and other emerging markets are poised for rapid growth as digital penetration increases and programmatic advertising adoption accelerates. Future market success hinges on continuous innovation in areas like AI-powered optimization, cross-channel campaign management, and solutions addressing privacy concerns, ensuring compliance with evolving regulations. The forecast period (2025-2033) suggests considerable opportunity for growth and investment in this dynamic and essential sector of the digital advertising ecosystem.
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The social media search engine market is experiencing robust growth, driven by the increasing reliance on social platforms for information gathering and the evolution of sophisticated search algorithms within these platforms. The market, while difficult to precisely quantify due to the interwoven nature of search functionality within social media platforms (many don't offer dedicated search engines), is estimated to be valued at approximately $50 billion in 2025, exhibiting a Compound Annual Growth Rate (CAGR) of 15% from 2025 to 2033. This growth is fueled by several key factors: the expanding user base of social media platforms, the increasing sophistication of social media search algorithms (better understanding of natural language queries and visual search capabilities), and the rise of social commerce, which intrinsically relies on effective search within social networks to discover products and services. The dominance of established platforms like Google, Facebook, and YouTube in this space is undeniable, but emerging platforms and innovative search functionalities continue to challenge the status quo. Segmentation reveals strong growth in both individual and business user applications, with video search showing particularly strong potential given the visual nature of many social media platforms. However, the market also faces restraints. Data privacy concerns are paramount, leading to regulatory scrutiny and evolving user expectations about how their data is used. Algorithm transparency and the potential for biased or manipulated search results also pose challenges for sustainable growth. Furthermore, competition is fierce, with established players constantly innovating and new entrants vying for market share. The ability to effectively monetize social media search, whilst balancing user experience and privacy, remains a critical factor shaping the industry's trajectory. Looking forward, we expect to see continued investment in AI-powered search technologies, increased integration of social search with e-commerce platforms, and a greater focus on personalized and contextual search experiences tailored to individual user preferences. This will require navigating the delicate balance between delivering relevant results, ensuring user privacy, and avoiding the spread of misinformation.
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The social media search engine market is experiencing robust growth, driven by the increasing penetration of social media platforms and the evolving user behavior of searching for information within these platforms. The market size in 2025 is estimated at $15 billion, reflecting a compound annual growth rate (CAGR) of 15% from 2019 to 2025. This growth is fueled by several key factors. Firstly, the sheer volume of user-generated content on platforms like Facebook, Twitter, and Instagram creates an enormous index of information that users actively seek. Secondly, advancements in natural language processing (NLP) and artificial intelligence (AI) are enhancing the search capabilities of these platforms, delivering more relevant and personalized results. Thirdly, the increasing integration of e-commerce functionalities within social media platforms further drives the demand for effective search tools. This allows users to seamlessly discover and purchase products directly within their preferred social media environment. Segment-wise, business users are expected to drive significant growth due to enhanced marketing and advertising opportunities through targeted search results. The dominance of word search currently outweighs image and video search; however, the latter two are projected to gain substantial traction in the coming years fueled by the rise of short-form video content and visually driven platforms like TikTok and Instagram. Geographical growth is projected to be highest in the Asia-Pacific region, driven by the massive user base and increasing smartphone penetration across countries like India and China. While the market faces challenges such as data privacy concerns and algorithm manipulation, the overall growth trajectory remains positive, with continued innovation in search technologies and increasing user dependence on social media platforms. The forecast period of 2025-2033 anticipates a sustained high growth rate, driven by continuous technological advancements and an expanding social media landscape.
During a 2025 survey among marketers worldwide, around 83 percent reported using Facebook for marketing purposes. Instagram and LinkedIn followed, respectively mentioned by 78 and 69 percent of the respondents. The global social media marketing segment According to the same study, 60 percent of responding marketers intended to increase their organic use of YouTube for marketing purposes throughout that year. LinkedIn and Instagram followed with similar shares, rounding up the top three social media platforms attracting a planned growth in organic use among global marketers in 2025. Their main driver is increasing brand exposure and traffic, which led the ranking of benefits of social media marketing worldwide. Social media for B2B marketing Social media platform adoption rates among business-to-consumer (B2C) and business-to-business (B2B) marketers vary according to each subsegment's focus. While B2C professionals prioritize Facebook and Instagram, both run by Meta, Inc., due to their popularity among online audiences, B2B marketers concentrate their endeavors on Microsoft-owned LinkedIn due to its goal to connect people and companies in a corporate context.
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The global advertising and internet video market size was valued at approximately USD 342.8 billion in 2023 and is projected to reach around USD 758.4 billion by 2032, growing at a compound annual growth rate (CAGR) of 8.6% from 2024 to 2032. The proliferation of digital media, increasing penetration of smartphones, and the expansion of high-speed internet connectivity are some of the primary growth factors driving this dynamic market.
The growth of the advertising and internet video market can be attributed to several key factors. First, the shift in consumer behavior towards online content consumption has significantly boosted the demand for internet video advertising. As more consumers prefer streaming services and online video platforms over traditional television, advertisers are increasingly allocating their budgets to online video ads. This has been further fueled by the rise of social media platforms like YouTube, Facebook, and TikTok, which offer targeted advertising solutions to reach specific demographics effectively. This trend is expected to continue as more people adopt digital content consumption habits, thereby driving market growth.
Secondly, advancements in technology, such as artificial intelligence (AI) and machine learning, have revolutionized the advertising landscape. These technologies enable advertisers to create highly personalized and engaging ad content, improving the overall effectiveness of advertising campaigns. Programmatic advertising, which uses AI to automate the buying and selling of ads, has gained immense popularity due to its ability to deliver real-time, data-driven ads to the right audience. This technological evolution is expected to further propel the market as businesses increasingly leverage AI-powered tools for their advertising strategies.
Moreover, the increasing adoption of smartphones and mobile devices has significantly contributed to the growth of mobile advertising. With the majority of internet users accessing content through their mobile devices, advertisers are optimizing their campaigns for mobile platforms. This includes the use of mobile-friendly ad formats such as in-app ads, mobile video ads, and native ads that seamlessly integrate with the user experience. The continuous growth of the mobile user base is anticipated to drive the demand for mobile advertising, making it a crucial segment within the overall market.
On a regional level, the Asia Pacific region is expected to witness substantial growth in the advertising and internet video market. The region's large population, increasing internet penetration, and rising disposable incomes are key factors driving this growth. Countries like China and India are leading the way with their rapidly expanding digital ecosystems and burgeoning middle-class populations. North America and Europe also hold significant market shares due to their advanced digital infrastructure and high levels of digital ad spending. The Middle East & Africa and Latin America regions, while currently smaller in market size, are poised for growth as internet connectivity improves and digital adoption increases in these regions.
Display advertising remains a cornerstone of the digital advertising market, providing a versatile and effective means for brands to reach their target audiences. Display ads encompass a range of formats, including banners, rich media, and interactive ads, which can be strategically placed across websites and social media platforms. The ability to visually capture user attention and deliver messages in a concise manner makes display advertising a popular choice among advertisers. As the digital landscape evolves, advancements in ad design and targeting capabilities are expected to enhance the effectiveness of display ads, driving their continued adoption and growth within the market.
Video advertising has emerged as a dominant force in the digital advertising realm, driven by the increasing preference for video content among consumers. Video ads, both short-form and long-form, offer a compelling way to convey brand messages and engage viewers. Platforms like YouTube, Instagram, and TikTok have become key players in the video advertising space, providing advertisers with extensive reach and engagement opportunities. The rise of programmatic video advertising, which leverages data and automation to deliver personalized video ads, is further boosting the segment's growth. As video consumption continues to rise, video advertising is expected to remain a critical component of digital marketing
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The programmatic marketing and advertising market is experiencing robust growth, driven by the increasing adoption of data-driven strategies, automation, and the need for precise targeting. The market's shift towards real-time bidding (RTB) and header bidding continues to fuel expansion, allowing advertisers to optimize campaigns and achieve greater efficiency. The rising volume of digital advertising inventory and sophisticated analytics platforms empowers brands to reach targeted audiences with personalized messaging across various channels. Key industry players like Facebook Business, Google AdWords, and The Trade Desk are continuously innovating, introducing advanced technologies that enhance campaign performance and measurement. This competitive landscape drives innovation, resulting in improved targeting capabilities, sophisticated fraud detection, and increased transparency. The integration of artificial intelligence (AI) and machine learning (ML) is further transforming the programmatic ecosystem, enabling more effective campaign optimization and predictive analytics. Looking ahead, the programmatic advertising market is projected to maintain a healthy growth trajectory. The increasing reliance on mobile devices and the expanding adoption of connected TV (CTV) advertising present significant opportunities. Challenges such as ad fraud, brand safety concerns, and data privacy regulations will continue to shape the market's evolution. However, the industry is proactively addressing these issues through the development of robust verification technologies and enhanced transparency initiatives. The convergence of programmatic and addressable TV advertising further expands the market's potential, offering more precise targeting and advanced measurement capabilities. The consistent innovation within the technology stack and evolving consumer behaviors will continue to influence the market's growth and expansion into new segments.
As per our latest research, the global Social Video A/B Creative Testing market size reached USD 1.42 billion in 2024, driven by the increasing demand for data-driven video marketing strategies and the proliferation of social video platforms. The market is projected to grow at a robust CAGR of 14.7% from 2025 to 2033, reaching an estimated USD 4.72 billion by 2033. This remarkable growth is underpinned by the rising adoption of advanced analytics and automation in creative testing, enabling brands to maximize engagement, optimize ad spend, and enhance content effectiveness across diverse digital channels.
The primary growth factor for the Social Video A/B Creative Testing market is the escalating importance of video content in digital marketing strategies. As consumer attention increasingly shifts toward video-centric platforms such as YouTube, Instagram, TikTok, and Facebook, brands are compelled to continually refine their video creatives to maintain relevance and capture audience interest. A/B creative testing empowers marketers to empirically determine which video variations perform best, optimizing for metrics such as click-through rates, watch time, and conversions. The surge in digital advertising budgets, coupled with the need for measurable ROI, is pushing organizations to invest in sophisticated testing tools and platforms that support rapid iteration and actionable insights.
Another significant driver is the advancement of artificial intelligence and automation in the creative testing process. Modern A/B testing tools leverage machine learning algorithms to analyze vast datasets, predict audience behavior, and recommend creative improvements in real time. This technological evolution not only accelerates the testing cycle but also enhances the precision of outcomes, enabling marketers to scale their campaigns with confidence. Furthermore, the integration of A/B testing solutions with social media management and analytics platforms is streamlining workflows, reducing manual effort, and fostering a culture of continuous optimization within marketing teams. The ability to automate hypothesis generation, test deployment, and result analysis is transforming how brands approach creative experimentation in the social video landscape.
The proliferation of mobile devices and high-speed internet connectivity has also contributed to market expansion. With video consumption on mobile platforms at an all-time high, brands are prioritizing mobile-first creative strategies and leveraging A/B testing to tailor content for diverse screen sizes, formats, and user behaviors. The increasing sophistication of audience segmentation tools allows marketers to run highly targeted tests, uncovering granular insights into demographic and psychographic preferences. As privacy regulations and data protection concerns mount, organizations are turning to privacy-compliant testing methodologies that respect user consent while delivering actionable intelligence. This balance between personalization and compliance is further fueling the adoption of A/B creative testing solutions across industries.
Regionally, North America continues to dominate the Social Video A/B Creative Testing market due to its advanced digital infrastructure, high advertising spend, and early adoption of marketing technology. However, the Asia Pacific region is emerging as a high-growth market, driven by rapid digitalization, expanding internet user base, and the explosive popularity of social video platforms. Europe is also witnessing steady growth, supported by a mature advertising ecosystem and increasing regulatory focus on data-driven marketing practices. Latin America and the Middle East & Africa are gradually catching up, with local brands and agencies embracing creative testing to enhance campaign performance and compete in the global digital marketplace.
The Type segment of the Social Video A/B Creative Testing market
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License information was derived automatically
Median reach, impressions, post consumers, video plays, and video views of posts with Insights data (n = 1,563).
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According to our latest research, the global Social Video A/B Creative Testing market size reached USD 1.32 billion in 2024, with a robust year-on-year growth trajectory. Propelled by the increasing demand for data-driven video marketing strategies and the proliferation of digital advertising platforms, the market is expected to grow at a CAGR of 13.4% from 2025 to 2033. By the end of 2033, the market is forecasted to attain a valuation of USD 4.13 billion. This remarkable growth is primarily driven by the surge in video content consumption across social media channels and the imperative for brands to optimize creative assets for maximum engagement and conversion.
The primary growth factor fueling the Social Video A/B Creative Testing market is the exponential rise in digital video consumption, especially on social media platforms such as Facebook, Instagram, TikTok, and YouTube. Brands are increasingly leveraging video content to capture user attention in a crowded digital landscape. However, with user preferences constantly evolving and attention spans shrinking, it has become critical for marketers to test and refine their creative assets. A/B testing enables brands to empirically determine which video variants resonate best with target audiences, driving higher engagement rates, click-throughs, and ultimately, return on investment. The availability of advanced analytics tools and AI-powered platforms has further streamlined the A/B testing process, making it more accessible and actionable for both large enterprises and SMEs.
Another significant driver is the growing adoption of automation and artificial intelligence in creative testing workflows. Automated Social Video A/B Creative Testing solutions have revolutionized how brands iterate and optimize their campaigns. These platforms can rapidly generate, deploy, and analyze multiple creative variants, offering actionable insights in real-time. The integration of machine learning algorithms allows for predictive analysis, helping marketers anticipate audience reactions and fine-tune their messaging accordingly. As organizations strive to personalize content and enhance customer experiences, the demand for scalable and efficient creative testing solutions is expected to surge. This technological evolution is not only reducing operational costs but also accelerating time-to-market for digital campaigns.
The Social Video A/B Creative Testing market is also benefiting from the increasing emphasis on measurable marketing outcomes. In an era where marketing budgets are scrutinized for ROI, brands are shifting towards performance-driven strategies. A/B testing provides quantifiable data on which creative elements drive the most impact, enabling marketers to allocate resources more effectively. The rise of programmatic advertising and real-time bidding has further underscored the need for agile and responsive creative testing methodologies. As marketers seek to optimize every touchpoint in the customer journey, the integration of A/B testing into broader marketing automation ecosystems is becoming standard practice, bolstering market growth.
From a regional perspective, North America currently dominates the Social Video A/B Creative Testing market, accounting for the largest share in 2024. This leadership is attributed to the high penetration of digital marketing technologies, a mature advertising ecosystem, and the presence of leading social media platforms. Europe follows closely, driven by stringent data privacy regulations and the growing adoption of video marketing in sectors such as retail and finance. The Asia Pacific region is witnessing the fastest growth, fueled by rapid digital transformation, increased smartphone adoption, and the burgeoning e-commerce industry. As brands across these regions intensify their focus on creative optimization, the demand for sophisticated A/B testing solutions is set to rise steadily.
The Social Video A/B Creative Testing market is segmented by type into Platform-Based Testing, Manual Testing, and Automated Testing, each playing a distinct role in shaping the industry’s trajectory. Platform-Based Testing solutions have gained significant traction, primarily due to their ability to provide seamless integration with various social media channels and advertising platforms. These platforms offer a unified dashboard for managing, deploying, a
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The digital advertising market, encompassing giants like Google, Facebook, Amazon, and Microsoft, alongside specialized platforms such as Celtra and Adform, is experiencing robust growth. While precise figures for market size and CAGR are unavailable, industry trends suggest a substantial market exceeding $500 billion in 2025, projected to experience a Compound Annual Growth Rate (CAGR) of approximately 10-15% between 2025 and 2033. This expansion is driven by several key factors: the increasing adoption of mobile devices and internet penetration globally; the rise of sophisticated programmatic advertising techniques enabling highly targeted campaigns; and the growing importance of data-driven insights for optimizing ad spending and performance. Furthermore, the expansion of e-commerce and the increasing sophistication of social media platforms continue to fuel demand for effective digital advertising strategies. The market is segmented by advertising type (e.g., display, video, search, social media), device (mobile, desktop), and industry vertical. While restraints exist, such as ad fraud and increasing regulatory scrutiny regarding data privacy (like GDPR and CCPA), these are largely offset by the overall positive market dynamics and continuous innovation within the sector. The competitive landscape is intensely dynamic, with established tech giants constantly battling smaller, more agile companies focusing on specific niches or innovative advertising technologies. The forecast period from 2025-2033 presents significant opportunities for both established and emerging players who can adapt to the evolving technological and regulatory landscape while delivering superior campaign performance for their clients.
The global number of Facebook users was forecast to continuously increase between 2023 and 2027 by in total 391 million users (+14.36 percent). After the fourth consecutive increasing year, the Facebook user base is estimated to reach 3.1 billion users and therefore a new peak in 2027. Notably, the number of Facebook users was continuously increasing over the past years. User figures, shown here regarding the platform Facebook, have been estimated by taking into account company filings or press material, secondary research, app downloads and traffic data. They refer to the average monthly active users over the period and count multiple accounts by persons only once.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to 150 countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).
Every year billions of dollars are spent on advertising on social media in the United States. In 2022, the amount reached ** billion U.S. dollars, and included paid advertising on social networks as well as games and applications on social media. By 2025, advertisers are expected to spend over ** billion dollars on promoting their products on social networks. Facebook commands the lion’s share of these expenditures (more than ** percent), followed by LinkedIn and Pinterest with * and * percent respectively. Social network advertising – a closer look Studies show that a little over ** percent of U.S. companies are and will be using social media for marketing purposes. In 2017, social messaging and video were thought to be the trends of the future in relation to social media advertising and believed to have the biggest effect on marketing strategies. Lo and behold, advertising spending on social video has been growing ever since, and is expected to amount to nearly ** billion U.S dollars in 2021. Even in this respect, Facebook has the lead, especially when it comes to influencer marketing. In fact, all tiers of influencers - from microinfluencers to celebrities - post the majority of their videos on Facebook. The second choice of platform to share their videos is YouTube, which despite being 'the' video sharing platform is not as popular yet among influencers most probably due to smaller user reach.
Between January to July 2022, influencer videos constituted ** percent of video views on Facebook. Media company videos followed with ** percent of video views, while brand and aggregator content came last with *** percent.