Facebook accounted for 75pc of all social network advertising spend on the planet last year. According to Strategy Analytics, social networks exceeded 2bn users for the first time in 2014, with Facebook accounting for 68pc.
Ad spend on social networks grew a robust 41pc globally in 2014 totalling over US$15.3 billion, accounting for 11pc of global digital ad spend.
Facebook accounted for three-quarters of global social network ad spend in 2014, while Twitter accounted for 8pc. In 2015, ad spend on social networks is expected to grow by 29pc, totalling US$24.2 billion.
“Overall, the social network market continues to show strong growth across all regions as the major social network platforms drive usage and engagement via improved integration of digital media content,” said Leika Kawasaki, author of the report.
“While Facebook currently dominates the global social network market, its absence in China allows local social networks such as QZone and Tencent Weibo to gain traction in the rapidly expanding Chinese digital advertising market.”
The UK is the second largest market for social network ad spend
Strategy Analytics said that nearly half (46pc) of social network users reside in the Asia Pacific region.
The UK is the second largest market for social network ad spend, accounting for 8.2pc of global social network ad spend in 2014, just edging out China (8pc).
China accounts for almost 25pc of global social network users with 495 million users in 2014.
North America had the highest ratio of social network users to its population (64pc) in 2014, followed by Western Europe at 55pc.
The US accounts for the largest share of global social network ad spend (41pc), totalling US$6.2 billion in 2014, up 35pc YoY.
The US had the highest social network ad spend per social network user at US$31.37 in 2014. This is expected to grow 27pc to US$39.84 in 2015.
Social media image via Shutterstock