New Forecast Puts Social Media Ad Spending at $8.3 Billion by 2015

Mobile Marketing New Forecast Puts Social Media Ad Spending at $8.3 Billion by 2015According to a freshly published report from BIA/Kelsey, an adviser to companies in the local media space, social media advertising revenues will balloon from $2.1 billion in 2010 to $8.3 billion in 2015, representing a compound annual growth rate of 31.6 percent.

BIA/Kelsey’s U.S. Local Media Annual Forecast dictates that the current predominant ad format is display, spending on which the firm expects will increase from $2.1 billion in 2010 to $7.7 billion in 2015.

Despite the undeniable reality that revenues for non-display ad formats, such as Twitter’s promoted products, are presently “minimal,” BIA/Kelsey anticipates there will be a number of format developments beyond display, and expects the social non-display segment to grow from zero in 2010 to $600 million in 2015.

BIA/Kelsey defines social media advertising as “money spent on advertising formats across social networks.”

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