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Report: Social Media Advertising Grew 16.3%

zoe

Administrator
Staff member
According to a recent report conducted by PwC, social media marketing has seen significant growth in 2020, making for 16.3% growth compared to the previous year.

Susan Hogan, SVP of Research and Analytics at IAB, pointed out that the second half of the year made up for an abrupt drop from last year’s second quarter.

According to Susan: “The surge in consumer adoption of Connected TV, e-commerce shopping, and at-home deliveries created the pendulum swing needed for digital media to continue growing. These are just some of the factors that contributed to ad dollars moving from traditional media to digital media.”

Some other interesting stats from the report:
  • Social media advertising reached $41.5B in 2020, making for 16.3% growth year-over-year.
  • Video increased by 20.6%, taking more share.
  • Programmatic grew by almost 25%.

This is good news for the industry that even in pandemic businesses are considering online presence as a business essential.
 

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