LinkedIn and Meta continue to dominate B2B social ad spending

B2B social ad spending will account for nearly half of B2B digital ad spending in 2024, at 46.3%. LinkedIn and Meta are expected to bring in $4.21 and $2.91 billion, respectively, in B2B ad revenues this year. Together, they will represent nearly 80% of B2B social ad spending, which is expected to reach $8.50 billion this year, up 15.2% from last year. YoY growth will slow, but social’s share will increase again in 2026. YouTube’s B2B ad revenues will also grow in 2024 due to increasing demand for video content.

• LinkedIn is the No. 1 social platform for B2B ad spending. Over 90% of ads on LinkedIn are B2B-oriented. It will capture 47.2% of B2B display ad spending and 22.9% of B2B digital ad spending in 2024. LinkedIn’s YoY growth rate for ad revenues has slowed from its pandemic high, but it will be a respectable 12.7% in 2024.

• Meta (Facebook and Instagram) ranks No. 2. B2B advertisers can specifically target new businesses and decision-makers on Meta’s platforms. Growth in Meta’s B2B ad revenues will slow to 13.8% in 2024 (from 24.8% in 2023), but it will still take 15.9% of B2B digital ad spending this year.
• The use of AI in automating social media content is growing. LinkedIn offers AI-powered Accelerate to help create campaigns faster and improve ad performance. Though not specifically for B2B, Meta offers Advantage+, which uses AI to automate and optimize campaigns. YouTube leverages AI for content creation, media buying, data analysis, and campaign personalization.
• YouTube’s B2B ad revenues will exceed $298 million in 2024. There’s increasing demand for video content, driven by the influence of social media platforms where audiences expect to view videos. YouTube’s B2B ad revenues will grow 12.1% YoY in 2024. B2B video advertising overall will grow 14.1% this year to $1.74 billion, representing 9.5% of B2B digital ad spending.

Read the full report, US B2B Digital Ad Spending Forecast 2024.