Author: Craig Davis / Source: The Content Strategist Every six months, the Interactive Advertising Bureau (IAB) publishes a revenue report
Every six months, the Interactive Advertising Bureau (IAB) publishes a revenue report on the state of the digital ad industry. In its most recent edition, social media revenue rose to $7 billion, a staggering 57 percent increase from the same period a year earlier. Social media revenue has climbed in every report since the IAB began including such data in 2012.
To no one’s surprise, Facebook drove the majority of that growth. According to eMarketer, Facebook accounted for 68 percent of all social media ad spend in 2016. Along with Google, the two tech giants made up 90 cents of every new dollar spent on domestic digital advertising during Q1 2016, per media trade group Digital Content Next.
It’s clear that ad professionals aren’t expecting Facebook’s grip to loosen any time soon.
In the past year alone, Facebook added two million monthly advertisers, expanding its total to…