Social network ad spending in the UK is set to overtake TV ad expenditure by 2020, according to the latest data from research firm eMarketer.
In 2018, 25% of all UK digital ad expenditure is going to social networks. The boost is led by marketers increasing their spend across platforms such as Facebook, Twitter and Snapchat to more than £3 billion.
The UK market alone is set to spend around £3.3 billion on social network ads this year – up 24% from 2017. eMarketer increased its forecast by five percentage points compared to the previous one due to diversification in the marketplace.
Meanwhile, TV continues to lead ahead of social in terms of ad spend in the UK. However, social media ad spend is predicted to surpass TV by 2020 and account for 20% of all media ad spending compared to 17.8% for TV.
“While Facebook has been losing teen users, Snapchat has been adding them,” said Bill Fisher, eMarketer’s UK senior analyst. “The result is a growing social media market, and one that advertisers are keen to utilise. Media-rich targeting options, with video a particularly big play, make platforms like Snapchat and Instagram especially attractive.”