Social media holds the most potential for innovation

Key stat: Half of US digital media professionals say that social media holds the most potential for innovation and opportunity in the next 12 months, per a September 2023 survey by YouGov cited by Integral Ad Science.

Beyond the chart:

• US social network ad spend will grow 13.5% to reach $82.88 billion in 2024, per our October 2023 forecast.
• As advertisers seek more innovative ways to reach consumers on social, platforms may need to be creative with ad formats and branded features.
• For example, TikTok introduced search ads last year, which enables advertisers to serve ads alongside organic search results.
• Meanwhile, Snapchat is incorporating generative AI into its platform, allowing developers to use ChatGPT to create AR lenses.

Use this chart:

• Assess digital media ad investments.

More like this:

• Social media predictions: Search’s impact on the commerce wars and LinkedIn’s ascent
• Social media, digital video face serious challenges in 2024
• 2024 trend watch: Social media will have a bigger seat at the marketing strategy table
• For many Gen Zers, product and brand discovery happens on social media

Note: Respondents were asked, "In your opinion, which of the following media types hold the most potential for innovation and opportunity across the media industry in the next 12 months? (Select up to three)"

Methodology: Data is from the December 2023 Integral Ad Science "The 2024 Industry Pulse Report." 262 US digital media professionals were surveyed during September 2023 by YouGov. Respondents were digital media experts who use programmatic advertising and include ad tech, brands, agencies, and publishers.