One year after social networks struggled through one of the most difficult stretches in their industry’s history, things have roared back to life. Social platforms have been bolstered by ecommerce-driven ad spending, automated ad offerings such as Meta’s Advantage+ suite, and an ever-increasing emphasis on video.

Key Question: What is responsible for the strong growth projected for social ad spending?

Key Stat: We revised our 2024 US social network ad spending forecast up 9.0% from where it was in H2 2023, after numerous companies handily beat their earnings estimates over the course of 2024.