Facebook took majority of social network ad spend in 2014

Ad spend on social networks grew 41% globally in 2014, totalling over US$15.3 billion and accounting for 11% of global digital ad spend, said Strategy Analytics in a Global Social Network Forecast. Facebook accounted for three-quarters of global social network ad spend in 2014, while Twitter accounted for 8%. In 2015, ad spend on social networks is expected to grow by 29%, amounting to an estimated US$24.2 billion.

"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," said Leika Kawasaki, author of the report. "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."

The social network population passed the 2 billion mark in 2014, with nearly half (46%) of social network users residing in the Asia Pacific region. Of this 2 billion, 68% are Facebook users, the company said. Other findings include:

• China accounts for almost 25% of the global social network population, with 495 million users in 2014. 
• China is the third-largest geography for global social network ad spend with 8% of the share, behind the US (41%), and then the UK (8.2%). 
• In 2015 social network users will grow to 2.2 billion, or 31% of the global population. By year-end 2019 the company expects social network users to reach 2.72 billion and account for 36% of the population.

Click here for the report.