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Social media advertising budgets to hit 50 bln USD by 2019: experts

Xinhua, December 7, 2016 Adjust font size:

The amount of money spent on advertising on social media will hit 50 billion U.S. dollars by 2019, according to latest ads expenditure forecasts on Tuesday.

The forecasts, released by ad agency ZenithOptimedia, showed that global advertising expenditure in social media will grow 72 percent between 2016 and 2019, rising from 29 billion U.S. dollars to 50 billion U.S. dollars.

Social media advertising will account for 20 percent of all internet advertising in 2019, up from 16 percent in 2016, it said.

It added that social media advertising is growing at 20 percent a year and that by 2019 will be just 1 percent smaller than newspaper advertising.

By 2020, social media will be "comfortably" ahead, according to the firm.

"For many users, social media is the focal point of their social lives as well as their main source of news. Social media ads blend seamlessly into the news feed, and are much more effective than interruptive banner formats, especially on mobile devices," it said.

The firm also said online video advertising is growing almost as quickly as social media, at 18 percent a year, and by 2019 it will total 35.4 billion U.S. dollars across the world.

ZenithOptimedia is fully owned by France's Publicis Group. Endit