Social media ad spend 'to overtake print for the first time'
Spending on social media advertising will grow by 20 per cent during 2019, accounting for 13 per cent of total global ad spend.
This is according to new figures from Zenith Media, which suggests that global spending on social media ads will reach $84 billion during the year.
Meanwhile spend on print ads will fall by 6 per cent to $69 billion, marking the first time that social has overtaken it.
Zenith suggest that this is part of the continuing trend of digital taking ad spend away from traditional print media.
It said: “Since it began in the mid-1990s, internet advertising has principally risen at the expense of print. Over the last ten years, internet advertising has risen from 12% of total global spend (in 2008) to 44% (in 2018). Meanwhile, newspapers’ share of global spend has fallen from 25% to 8%, while magazines’ have fallen from 12% to 4.5%.”
Across all mediums, global ad spend is likely to remain fairly stable, growing at 4.4 per cent according to the report. Zenith said it expects the "robust" US advertising market to ensure continued modest growth through to 2021.