Facebook, including Instagram, will net $33.48 billion in US ad revenues this year, up 12.4% year-over-year, per our latest forecast. That’s more than a $2.00 billion jump from our June estimate of $31.70 billion but lower than the $36.25 billion we had expected pre-pandemic.

We estimate that Facebook will command 83.0% of US social network ad spending this year. And notably, Instagram will make up 48.8% of total US Facebook ad revenues, rising to 60.3% in 2022.

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• TikTok will grow worldwide despite government scrutiny
• Facebook buys customer service startup Kustomer, aiding its social commerce play
• Google, Facebook, and Amazon will account for nearly two-thirds of total US digital ad spending this year

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