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Forecast: SocMedia Ad Revs to skyrocket
Look for enhanced targeting to begin pushing more ad dollars into the social space. That is the takeaway from a new forecast from BIA/Kelsey Group, which indicates ad revenues from social media will push past the $18 billion mark over the next four years.
"We were initially skeptical about the social-mobile market's ability to capture optimal wallet share because of mobile's limitations, such as smaller screen size, limited ad inventory and static creative," said Jed Williams, VP, consulting, BIA/Kelsey. "Over the past year, however, Facebook, Twitter and other networks have generated dramatic revenue growth, primarily as a function of mobile ad acceleration and largely through natively integrated mobile ad formats. We expect this growth to continue throughout the forecast period."
Savvy marketers are pushing more ad dollars into the social marketing space, and that trend will continue at least through 2018 according to a new forecast from BIA/Kelsey Group. According to the US Social Media Advertising Revenues report native social ad growth will pass 38% CAGR; mobile growth is also expected to hit a 38% CAGR while locally targeted social ad growth is expected to hit 31% CAGR.
In 2013 social display ad revenues hit $3.3 billion; the increased growth rate should push the revenue number to $5.6 billion in 2018. Other interesting predictions include:
• Social Mobile ad revenues were $1.5 billion (2013)
• Social Mobile ad revenues are expected to hit $7.6 billion (2018)
• Social Mobile is expected to overtake Social Desktop revenues by 2018
• Local Social ad revenues should hit $5.2 billion (2018)
"As social usage further migrates to mobile platforms, the need for locally targeted messages and offers that leverage mobile's unique capabilities will expand. We expect social local ad spend to increase steadily through 2018, as SMBs better leverage multi- and micro-targeting to optimize campaigns, and national brands drive more traffic to individual store locations and target consumers with more personalized offers," said Williams.
Image via Shutterstock
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