Meta accounts for 19.5% of US digital ad spend, despite US adults spending only 7.6% of their time on the platform, according to Insider Intelligence/eMarketer.
Meta earns significantly more per hour spent on Facebook and Instagram ($0.93) than YouTube ($0.13) or TikTok ($0.16), the report noted.
The data also showed that 37% of US Facebook users and 35% of Instagram users will buy on the platforms this year.
Meta is ahead of the competition regarding user data, ad placement, and trackable ROI. This could be part of why advertisers continue to over-rely on Meta even though users spend nearly as much time on Youtube.
User time spent on Meta includes both Facebook and Instagram.
Ariel Ben Solomon is the Growth and Strategy manager at Ecomhunt. He is the host of the Ecomhunt Podcast. Can be followed on Twitter at @ArielBenSolomon
