Facebook’s maintains its status as king of the social media network. In 2014, the social network pulled in 75% of total advertising spending on social networks, according to a new report by Boston-based Strategy Analytics.
Reports suggests that Facebook accounted for $11.4 billion of the $15.3 billion market for social media advertising, a market that grew 41% in 2014. Twitter, which earned $1.2 billion in ad revenue in 2014, had 8% of the share. The report also predicts that the total social ad market will hit $19.8 billion by the end of this year and $24.2 billion by the end of 2016.
The report also showed that the users of social networks passed the 2 billion mark for the first time in 2014. Facebook, with 1.4 billion monthly active users, accounts for 68% of that total despite lacking an official presence in China, which is home to nearly 25% of global social network users.
“Overall, the social network market continues to show strong growth across all regions as the major social network platforms drive usage and engagement via improved integration of digital media content,” the report’s author Leika Kawasaki said in a release. “While Facebook currently dominates the global social network market, its absence in China allows local social networks such as QZone and Tencent Weibo to gain traction in the rapidly expanding Chinese digital advertising market.”
Here are other interesting facts from the report:
- Nearly half (46%) of social network users reside in the Asia Pacific region.
- North America had the highest ratio of social network users to its population (64%) in 2014, followed by Western Europe at 55%.
- The US accounts for the largest share of global social network ad spend (41%), totaling $6.2 billion in 2014, up 35% YoY.
- The UK is the second largest market for social network ad spend, accounting for 8.2% of global social network ad spend in 2014, just edging out China (8%).
- The US had the highest social network ad spend per social network user at $31.37 in 2014. This is expected to grow 27% to $39.84 in 2015.
- In 2015 social network users will grow to 2.2 billion, or 31% of the world’s population.
- By year-end 2019 the report predicts social network users to reach 2.72 billion and account for 36% of the population.