Digital ad spend on Facebook in the US is set to reach $21.75 billion this year, surpassing newspaper advertising (£10.74 billion) and total advertising spent on print ($23.12 billion).
According to eMarketer’s forecast report, Facebook’s presence in digital advertising is growing at an alarming rate, with ad spend on the social platform set to account for 23% of total US digital ad spending.
Meanwhile, the social behemoth is set to take $1 of every $10 spent on both digital and non-digital advertising combined. According to the research, this could ramp up to 11.3% by 2019 surpassing print advertising (10%).
eMarketers’s senior analyst, Marcus Johnson, noted the rising popularity of Facebook’s Instagram among US marketers as a contributor to company’s continuing domination of the digital ad industry with the photo-sharing app expected to be used by nearly 75% of all US marketers this year.
“We actually see Instagram usage growing among marketers. Facebook has made it easy for marketers already on the platform to extend what they are doing on Instagram, including advertising,” commented Johnson.
“If you are a Facebook user you can simply add Instagram to your campaigns which has helped the platform to grow ad revenue.”
The report also looked at the comparative underdogs of social advertising Snapchat and Twitter, with the report indicating that Snapchat is set to overtake its counterpart in ad revenue in the year ahead, pulling in $1.18 billion compared to Twitter’s $1.16 billion.
While it continues to grow its user base, Snapchat’s improved measurement and ad targeting tools such as Ad Manager and Audience Filters launched last year have been a contributing factor to this growth, evidence that its efforts to recover from a poor performing H2 last year are starting to pay off.
The outlook isn’t so bright for Twitter; despite its push into video programming in April, ad revenue is expected to fall this year, dropping by 4.5% as its usage growth slows down.
When it comes to the wider warring of ad techs, however, both Snapchat and Twitter have already been ousted by the growing presence of Amazon, although the e-commerce site still has some way to go in catching up with the duopoly of Facebook and Google.