In the upcoming year, social media companies – namely Facebook – are expected to hit new and unprecedented milestones. Among the numerous digital media platforms, Facebook remains top dog as the dominant social advertising channel among marketers. Facebook is on the path to further establish itself as a key component of the digital advertising conversation.
eMarketer recently published a report stating that Facebook is expected to account for 23% of the total US digital ad spending in 2018. Facebook is also predicted to take in $1 of every $10 spent on both digital and nondigital advertising combined. Facebook’s US ad revenues (forecasted to reach $21.57 billion during the upcoming year) will be twice the amount spent on newspaper advertising ($10.74 billion) and almost as much as advertisers will spend on the entire print category ($23.12 billion).
Competitors Twitter and Snapchat, on the other hand, will perform equally in US ad revenues. eMarketer predicts Snapchat will pull in $1.18 billion in US ad revenues this year, with Twitter trailing slightly behind at $1.16 billion. Although their forecasted yearly revenues are close in numbers, the social media giants are headed in markedly different directions. Snapchat’s user base is growing and as such, will continue to see ad revenue growth this year. Improved measurement capabilities and ad targeting tools are just two of the ways the app is attracting and retaining new users. Twitter, however, is seeing a drop in ad revenues – by as much as 4.5% in the upcoming year, making for revenue challenges.
Which market is the biggest contributor to this massive ad spending? Small businesses. The small businesses looking to see their campaigns deliver simple, effective and affordable marketing solutions will be the driving force behind the revenue boom for Facebook in 2018.
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