Social media ad budgets continue to grow at ‘expense of print’, up 20% in 2019

6 days ago

Social media advertising will see 20% in ad spend boost in 2019 to account for 13% of all global spend.

This will see social media overtake print ad spend the first time, according to Zenith Media’s Advertising Expenditure Forecasts. Spend on sites like Facebook, Twitter and Instagram will grow by 20% in 2019 to reach USD$84bn, while combined newspapers and magazine expenditure will fall 6% to USD$69bn.

Social (13% of spend) sits behind TV (29%) and paid search (17%) – which breaches USD$100bn for the first time.

The report read: “Since it began in the mid-1990s, internet advertising has principally risen at the expense of print. Over the last 10 years, internet advertising has risen from 12% of total global spend (in 2008) to 44% (in 2018). Meanwhile, newspapers’ share of global spend has fallen from 25% to 8%, while magazines’ have fallen from 12% to 4.5%.”

Matt James, Zenith’s global brand president, said: “Social media advertising gives brands the opportunity to drive growth by using automated tools to optimise their campaigns for key business objectives.

“By using first-party data from their own websites to identify potential customers on social media, brands can convert consumers who are already on the path to purchase and target look-a-like audiences more effectively.”

Internet advertising will account for 52% of global adspend, up from 44% in 2018.

Globally, ad growth is expected to remain stable at 4.4%. Jonathan Barnard, head of forecasting at Zenith, said: “We have slightly downgraded our expectations for 2019 amid a marginally weaker trading environment.

“But growth should then remain steady out to 2021, powered by the robust US advertising market.”

In the UK, 2019 spend will be down to 3.3% growth, down from 8.7% in 2018.

source: /www.thedrum.com

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