Social media advertising will hit a new low in US spending growth this year

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Key stat: This year, US social network ad spending will grow at its slowest pace since we began tracking it, at just 3.4%, to reach $68.45 billion, according to our forecast.

Beyond the chart:

  • US social media user growth will be just below 2% this year, roughly the same as in 2022.
  • Advertisers are also pulling back due to signal loss brought on by Apple’s AppTrackingTransparency, as well as macroeconomic conditions.

Use this chart:

  • Caution against overinvesting in social ads.
  • Align your social media ad budget with industry trends.
  • Assess your overall media mix.

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Methodology: Estimates are based on the analysis of various elements related to the ad spending market, including macro-level economic conditions, historical trends of the advertising market, historical trends of each medium in relation to other media, reported revenues of major ad publishers, estimates from other research firms, data from benchmark sources, consumer media consumption trends, consumer device usage trends, and eMarketer interviews with executives at ad agencies, brands, media publishers, and other industry leaders.

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