Social network advertising in the United States will total $82.89 billion this year, $7.81 billion more than predicted in Q1 2023.
According to an October 2023 Insider Intelligence/eMarketer forecast, the social media advertising forecast is higher than before, thanks to increased ad loads, a concentration on lower-funnel ads, and an improving advertising economy.
Some of this optimism stems from Meta and TikTok, both of which have been improving their advertising operations.
However, according to the report, social media advertising has hurdles, including issues with user growth, time spent, and driving CPM growth for short-term videos.
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
