Meta Advertising Revenue (2020–2024)
As the parent company of some of the world’s most popular social media platforms, there’s no denying the influence Meta has on consumers and the market reach it offers businesses.
Currently, the ad revenues of Instagram and Facebook—both Meta entities—are in the billions. Coupled with a growing number of advertisers on Facebook, it’s no surprise that Meta’s advertising revenues are in the billions themselves.
Here’s a breakdown of Meta’s advertising revenue in recent years.
Meta advertising revenue: 2024
According to recent analysts’ forecasts, Meta’s advertising revenue in 2024 is expected to hit $123.7 billion. This marks a 10.5% annual increase and an acceleration from the previous year’s growth rate of 8.2%.
The data shows that aside from a slight fall in 2022, Meta’s advertising revenue has largely risen since 2020. Experts attribute the decline in Meta’s ad revenues in 2022 to the lack of success in the company’s billion-dollar plan for the metaverse and a growing sense of distrust of social media advertising amid user privacy issues.
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They also warn of lingering challenges for advertising, which will mostly affect social media. But other forms of advertising, such as connected TV (CTV) and retail media, are likely to perform.
From 2020 to 2024, Meta’s annual advertising revenues are forecast to grow by $50.6 billion. This is an overall increase of 60% and an average annual growth rate of 13.2%. Its best performing year came in 2021, when revenues surged by 36.5%.
Meta advertising revenue: breakdown by segment
The bulk of Meta’s expected advertising revenues in 2024 is set to come from Facebook. A breakdown shows that of the $134.7 billion in revenues the company is set to generate in 2024, $75.1 billion will be from Facebook ads. This represents 55.8%. With expected revenues of $59.6 billion, Instagram ads account for the remaining 44.2%.
The data shows that while Facebook ads have made up the majority of Meta’s advertising revenue since 2020, its share has largely been falling. That year, Facebook’s ad revenues totaled $56.1 billion—$19 billion less than its forecast for 2024, and constituted two-thirds (66.6%) of Meta’s ad revenues. This fell to 63.3% in 2021 and 61.6% in 2022. In 2023, Facebook ad revenues amounted to 58.5% of Meta’s overall ad revenues.