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Advertisers in 2017 are allocating more money to paid social, particularly Facebook. Over the next 12 months, close to two-thirds plan to increase their investment to the social platform, according to December 2016 data from ClickZ Intelligence.
Good to know, but not surprising since Facebook is the largest recipient of social media advertising dollars in the world. eMarketer estimates the company will take in more than two-thirds of social media ad revenues worldwide in 2017.
But Facebook isn’t the only platform where advertisers plan to increase their paid social spending.
According to the ClickZ survey, 40% of respondents said they plan to increase their spending on Instagram—whose ad business is on a rapid trajectory—and another 40% said they plan to increase it on LinkedIn.
Increased interest in LinkedIn is likely because of its expanded advertising offerings with Sponsored InMail.
And LinkedIn’s ad business is also growing.
Meanwhile, investment in Twitter is expected to increase by more than a quarter, according to ClickZ, though the social platform does have the highest percentage (11%) of advertisers who plan to decrease their investment.
US paid media ad spending will grow steadily in 2017, on the heels of a strong 2016 boosted by the Rio Olympics and the presidential election. A focus on mobile will fuel growth, pushing total media spend to more than $206 billion this year—a moderate increase of 6.1%.
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