Meta properties saw 15% ad spend growth in Q4 2024, while TikTok, facing an unknown future within the U.S., dropped 51 percentage points from Q4 2023 to 13%, in accordance with digital promoting company Tinuiti.
These latest figures show the momentum that social media and commerce carry into 2024, although digital promoting overall expects a slowdown in growth in the approaching 12 months.
Dig deeper: IAB expects digital promoting growth to slow considerably this 12 months
Why we care. Marketers have two significant reasons to proceed, and in some cases increase, their investment in social media campaigns. One, they need to remain competitive in places where the competition can be investing. Two, recent AI tools are helping create more efficient, automated campaigns on these platforms. Platforms smaller than Meta’s are also areas of serious investment, Tinuiti’s study showed.
TikTok. U.S. advertisers upped their TikTok spend 13% YoY in the course of the 2024 holidays. This was half the expansion rate (27%) TikTok saw in Q3 in the course of the U.S. elections, and down from 64% YOY growth in Q4 2023.
None of this prevented the social media platform from having a excellent 12 months overall. Spend on TikTok for 2024 was $4.8 billion, in accordance with MediaRadar. This was a 27% increase over 2023.
Smaller platforms. The Tinuiti study showed brands that bought on each TikTok and Meta spent $0.19 on TikTok for each $1 they spent on Meta. This is similar percentage Meta advertisers invested in Pinterest, after they invested in each, and greater than they spent on Snapchat (15%). When marketers spend money on multiple social media platforms, they’re finding value within the smaller platforms and spending accordingly, the study suggests.
Meta. U.S. ad spend on Meta properties saw 15% year-over-year growth in 4Q 2024. This was an acceleration from 9% growth in 3Q 2024.
For the primary time since Q3 2022, Facebook CPM was above water, as it remained flat YoY. Spend growth on Facebook rose from 5% in Q3 to 11% in 4Q 2024.
Instagram ads were up 20% YoY in the course of the 2024 holidays.
Facebook represented nearly two-thirds (64%) of spend on Meta platforms. Instagram was 35%. Marginal sums were also spent on Messenger and Audience Network.
Amazon DSP. A 3rd (32%) of all Amazon ad investment in 4Q was within the demand-side platform (DSP), versus 68% of investment within the Amazon Ad Console.
This number represents the split for brands that publicize in each the Ad Console and DSP. Additionally, the report stated that neglected of this number were plenty of non-endemic brands that spend money on the DSP, but aren’t lively on the Console. This number has grown because the launch of Amazon Prime Video ads in early 2024.
Spend on Amazon DSP was up 36% YoY in Q4 2024. The Amazon DSP sells into Amazon’s owned and operated digital properties as well as publishers who use Amazon Publisher Services (APS). Additionally, it sells into other non-Amazon inventory. Due to high CPM for Amazon owned and operated properties, that category receives a better percentage of spend (55%) than impressions (46%).
Walmart Sponsored Products. Tinuiti saw spend up 53% YoY for Walmart Sponsored Products in 4Q 2024. This was the largest growth Sponsored Products had seen because the 2023 holidays.
Eighty-eight percent of all Walmart search ads were in Sponsored Products. Two other search formats were utilized in a smaller percentage — Sponsored Brands and Sponsored Video, each making up 6%.
Dig deeper: Social media and influencers: 2025 predictions
The post Meta ad spend up 15% last quarter as TikTok sees sharp drop appeared first on MarTech.
Read the complete article here
