A quarter of all UK digital ad spending will go to social networks this year, according to eMarketer’s most recent forecast.
In 2018, marketers in the UK will spend £3.3 billion ($4.2 billion) on social network advertising, a 24 per cent increase over 2017. eMarketer has increased its projections for social networking advertising spend by almost 5 percentage points since the previous forecast, due to diversification in the marketplace which is driving up overall social network user rates and resulting in increased spend.
With the exception of TV, social network’s share of ad spending has now overtaken all traditional media formats in the UK. But come 2020, even TV will be reeled in, with social network ad spending accounting for a fifth of all media ad spend and broadcast TV, at just 17.8 per cent
“While Facebook has been losing teen users, Snapchat has been adding them,” said Bill Fisher, eMarketer’s UK senior analyst. “The result is a growing social media market, and one that advertisers are keen to utilise. Media-rich targeting options, with video a particularly big play, make platforms like Snapchat and Instagram especially attractive.”