Local Social Media Ad Spend Expected To Hit $2.3 Billion By 2015
ADOTAS – BIA/Kelsey has come out with a report that says social media is becoming an increasingly larger part of local online advertising, rising 33 percent per year, and that it should hit the $2.3 billion mark by 2015.
Display ads make up the majority share of ads used in social media advertising, at 95 percent thereof. Display is projected to reach $7.7 billion of an $8.3 billion social media ad market by 2015.
Jed Williams, analyst and program director of BIA/Kelsey’s Social Local Media practice, said in a report, “To date, local targeting has not been widely adopted by SMBs or national brands. However, the paradigm is moving to performance, with Facebook and other networks focused on improving format, creative and targeting to boost rates and drive deeper ad engagement. We expect social local ad spend to steadily increase through 2015, especially as smaller businesses learn how to leverage targeting features to optimize results.” As originally reported in NetNewsCheck.
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