Worldwide total is a 33.5% increase over 2014. Spending in the U.S. and Canada will pass $10 billion this year for the first time
Advertisers will spend $23.68 billion worldwide to reach consumers on social media in 2015, according to new figures released this week by eMarketer. The total represents an 33.5% increase over eMarketer’s 2014 figure of $17.74 billion and means ad spending on social media will make up 13.9% of the total digital advertising market this year.
EMarketer also predicts that by 2017, social media ad revenue will hit $35.98 billion, 16.0% of the total global digital ad market. According to eMarketer estimates, the pace of global spending growth is slowing, going from 56.2% in 2014, to 33.5% this year, then dropping to 26.3% in 2016 and 20.3% in 2017.
Advertisers in the United States and Canada will remain the top drivers of the market, boosting ad spending 31.0% this year to pass the $10 billion mark for the first time. The total in the Asia-Pacific region will be $7.4 billion and Western Europe will be $4.74 billion. The North American countries also lead in per user spending, laying out $50.42 in ad dollars for each user, compared to $25.26 for Western Europe and $8.04 for Asia-Pacific.