US social media ad spending will ride the momentum platforms built in H2 2023 thanks to AI, social video advertising growth, and a fixation on bottom-funnel outcomes.
The AI-driven results that carried social platforms out of their recent funk will power a strong year of growth in 2024. For now, ad buyers have shelved their concerns about the opacity of ad tools such as Advantage+ Shopping Campaigns (ASC+).
Key Question: How is ad spending across social’s leading platforms evolving?
Key Stat: Social video grew into the largest channel of US social ad spending in 2023, accounting for 52.5% of it. In 2025, social video will generate more ad spending than linear TV.
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Table of Contents
Executive Summary
Amid unprecedented scrutiny, advertisers continue to plow budgets into social
AI is now central to social ad buying
Retail and CPG advertisers are shaping social ad offerings
Social video ad spending will be huge again in 2024
Senior Vice President, Social Media Partnerships and Strategy
Interviewed March 26, 2024
Rob Silver
Razorfish
Executive Vice President, National Media Lead
Interviewed March 28, 2024
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