Last year, YouTube was ranked the highest among these three apps, but many brands are focusing more on Tiktok this year and also increasing their ad spend on the app. In summer of 2022, 42% of the brands and retailers reported posting content on TikTok and in 2023, the percentage increased to 63% and now it is hitting 67%. In 2022, only 24% of the brands and retailers purchased ads on TikTok which increased to 35% in 2023. In summer 2024, 40% of the brands are buying ads on the platform. The jump in ad spend was more prominent from 2022 to 2023, but it wasn’t that high from 2023 to 2024 likely due to a potential bill to ban TikTok in the USA.
As TikTok has started growing a lot, YouTube is seeing a significant drop among brands and retailers. 74% of the brands posted content on YouTube in 2023, but now it has decreased to 67% in 2024. Even with all of this, YouTube reported a higher ad spend on the platform than last year. In 2022, 55% of brands and retailers purchased ads on YouTube, while 35% did so in 2023. In 2024, 40% of brands and retailers are purchasing ads on the platform.
Snapchat is still trying to gain popularity among brands and retailers. 19% of the brands and retailers posted their content on Snapchat in summer of 2023, but percentage has gone down to 13% in 2024. The ad spend on the platform is also slow, with 12% of brands and retailers buying ads on Snapchat last year to 13% of brands and retailers who are buying them this year. It is disheartening to see, especially when Snapchat was trying out its high-profile brand marketing campaign.
Read next: New Report Shows Meta Has the Highest Share of Time Spent on its Platforms as Well as Highest Digital Ad Spending
by Arooj Ahmed via Digital Information World
No comments:
Post a Comment