US social media ad spending will ride the momentum platforms built in H2 2023 thanks to AI, social video advertising growth, and a fixation on bottom-funnel outcomes.
The AI-driven results that carried social platforms out of their recent funk will power a strong year of growth in 2024. For now, ad buyers have shelved their concerns about the opacity of ad tools such as Advantage+ Shopping Campaigns (ASC+).
Key Question: How is ad spending across social’s leading platforms evolving?
Key Stat: Social video grew into the largest channel of US social ad spending in 2023, accounting for 52.5% of it. In 2025, social video will generate more ad spending than linear TV.
Key Report Features:
- 2 Exportable files for easy reading, analysis and sharing.
- 5 Charts: Reliable data in simple displays for presentations and quick decision making.
- 9 Insights from industry and company leaders.
Table of Contents
- Executive Summary
- Amid unprecedented scrutiny, advertisers continue to plow budgets into social
- AI is now central to social ad buying
- Retail and CPG advertisers are shaping social ad offerings
- Social video ad spending will be huge again in 2024
- Social search has advertisers’ attention
- Platform snapshot: Meta
- Platform snapshot: TikTok
- Platform snapshot: the second tier
- Interviews
- Sources
- Media Gallery
Charts
- Social Video's Share of Digital Video Ad Spending Is Beginning to Level Off
- Spending Toward Meta's Advantage+ Shopping Campaigns Grew by Over 40% Over 3 Quarters
- Instagram Will Account for the Majority of Meta's US Ad Business by 2026
- TikTok's Ad Business Will Have Compound Annual Growth of 26.4% From 2024-2026
- Meta and TikTok's Competitors' Share of US Social Ad Spending Will Continue Declining
Interviewed for This Report
- Avi Ben-Zvi - Winclap, General Manager, North America
- Nathan Byrd - Media.Monks, Vice President, Paid Social
- Kevin Goodwin - New Engen, Vice President, Digital Marketing
- Jack Johnston - Tinuiti, Senior Director, Social Innovation
- Shuree Jones - Rain the Growth Agency, Group Director, Paid Social and Influencer Media
- Dane Kragness - Taktical Digital, Director, Paid Media
- Amy Luca - Media.Monks - Executive Vice President, Global Head of Social
- Sadie Miller - Kinesso, Senior Vice President, Social Media Partnerships and Strategy
- Rob Silver - Razorfish, Executive Vice President, National Media Lead
Companies Mentioned
- TikTok
- Meta
