Social Media Ad Spend to Skyrocket to $8.3 Billion in 2015, Study Says

Revenues generated from social media advertising is set to skyrocket to US$8.3 billion in 2015 from US$2.1 billion last year, according to a study conducted by BIA/Kelsey. BIA/Kelsey takes social media advertising to mean anything from display ads to Twitter's promoted products; however, virtual goods and rewards, social gaming and social commerce isn't part of the firm's findings. While display will constitute the biggest chunk of ad revenues—US$7.7 billion in 2015—BIA/Kelsey expects other formats to “grow from zero in 2010 to US$600 million in 2015”. Of the social networks currently offering ads, Facebook is, unsurprisingly, the clear winner, BIA/Kelsey said. “As the social market leader, [Facebook] already serves the most display ad impressions of any digital company, surpassing both Yahoo! and Google,” said BIA/Kelsey analyst Jed Williams in a statement. “We fully expect Facebook to increase both impression share and ad revenue, as buyer awareness accelerates and creative formatting and targeting improve to optimize performance.” Via Design TAXI News.

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