Why it matters: We forecast that US social network video ad spending in 2021 will grow by nearly a third (31.0%) YoY to $19.22 billion, and though nonparticipant Facebook leads the pack in terms of revenues, both Snap and Twitter are growing at a faster rate—49.8% and 32.1%, respectively. (We don't break out TikTok, but "other" social venues will grow even faster, at 57.3% YoY.).
As many as half of US adults are using social media at higher rates during the pandemic. In several waves of polling conducted between late March and early May, The Harris Poll found that between 46% and 51% of US adults were using social media more since the outbreak began.