A booming advertising market
12 March 2023
4.76 billion people around the world now use social media
Social media has acquired unquestionable authority in our modern society, where the consumption of online content is constantly increasing. According to available data, the consumption of online content has increased by 30% in one year, making social networks the second largest advertising market after online advertising.
With such rapid growth, it’s no surprise that social media investments are considered a safe investment for businesses. The most recent figures feature that global social media revenue is expected to reach US$385 billion by 2027, making it a very lucrative advertising market.
Social networks have become major players in the field of online advertising, with a small number of companies dominating the market. These platforms offer advanced ad targeting features that allow businesses to reach their target audience accurately and effectively.
In sum, the authority of social media is unquestionable, with rapid growth and enormous global revenue potential. If businesses are looking to reach an online audience, they can’t afford to ignore social media and its major players. Social media advertising has become a key part of any successful digital marketing strategy.
