Which Social Network Dominates Digital Ad Spend in 2024?

Meta’s Facebook and Instagram are benefiting from their millions of users who spend a lot of daily time on the platforms by exposing them to ads. Meta is also incorporating AI on its platforms to increase the ad targeting. Meta made nearly $75 billion (from Instagram and Facebook) in ad spends in the first half of 2024 just in the United States. This ad spending on Meta platforms is also seen in other countries too.

Based on the data from Sensor Tower, these are the companies with most shares of digital ad spends. Facebook is the top in terms of shares of digital ad spends, making 36.3% share of total ad spend with value of $42.5 billion. Instagram comes second with a value of $32.2 billion and 27.5% share of total ad spend.

Google's YouTube had 15.5% ad share in H1 of 2024, while TikTok had 9.5% share. YouTube is third with a huge margin with the top two and this shows that ad formatting on YouTube is less targeted. With $11.1 billion spent on TikTok, its ad spend has grown 19% annually. Other platforms in the top with the most share of digital ad spend are LinkedIn (4.8%), Snapchat (3.0%), Pinterest (2.7%) and X aka Twitter (0.8%). Digital marketers spent $900 million ad spend on X, which is a 23% decrease from last year.

Platform	Share of Digital Ad Spend H1 2024	Value
Facebook	36.30%	$42.5B
Instagram	27.50%	$32.2B
YouTube	15.50%	$18.1B
TikTok	9.50%	$11.1B
LinkedIn	4.80%	$5.6B
Snapchat	3.00%	$3.5B
Pinterest	2.70%	$3.2B
X (formerly Twitter)	0.80%	$0.9B
Total		$117.00

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by Arooj Ahmed via Digital Information World