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Social ad spend will pick up pace after 2022’s perfect storm

For more insights and key statistics on the biggest trends in today’s most disruptive industries, subscribe to our Chart of the Day newsletter.

US social ad spend growth will near 9% this year and return to double digits in 2024, per our forecast. Last year’s 3.6% increase reflects a normalization after 2021’s rapid growth, as well as targeting challenges resulting from Apple’s AppTrackingTransparency framework.

Beyond the chart: Even though the social ad market is picking back up, it will account for a smaller portion of digital ad spend this year (25.5%) than it did in 2022 (26.3%). Retail media and connected TV are increasing in digital ad spend share as social declines.

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