Social Media Ad Spend in the US (2017–2028)
There’s no question about the influence of social media and its power to grow a business. When we look at the hard numbers, the social media ad spend in the US says it all.
US social media advertising spending: 2017–2023
In 2024, total social media advertising spending by US companies is expected at just over $76.4 billion. This represents an 5.6% increase from 2023 and a deceleration in its growth rate from the previous year, when social media ad spend grew by 8.5%.
From 2017 to 2021, social media ad spend in the US rose by an average of 31.1% every year—nearly four times the growth rate expected this year. Taking 2022 and 2023 into calculation, the average annual growth from 2017 to 2023 falls to 23.1%.
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US social media advertising spending: 2025–2028
All signs point to further—albeit slower—growth in social media ad spend in the coming years. Expenditure is expected to inch upward by 4.3% in 2025, to $79.7 billion. By 2026, it’s projected to hit $82.5 billion, after a 3.6% annual increase. This is set to continue to increase by 3.4%, to $85.3 billion in 2027, before a slight slowdown in 2028, as spending rises by 3.3%, to $88.1 billion. In the four-year period from 2025 to 2028, average annual growth rates are forecast to slow to 3.4%.
From 2017 to 2028, the biggest year-over-year growth rate came in 2018, when social media ad spend increased by a whopping 38.3%. In contrast, a 3.3% annual increase is projected for 2028, the smallest yearly rise.
Despite the slowdown, the rise in social media ad spending will be nothing short of impressive. In just over a decade, the total expenditure on social media will have more than quadrupled.
Social media ad spend: total time spent
With 313.7 million social media users in the US in 2024 (and growing), it’s no wonder brands are investing more and more in social media advertising.
Plus, the amount of time consumers are spending on social media has also been increasing. This translates to higher chances of getting eyes on your social media ads. In 2023, the average internet user in the US spent two hours and 16 minutes a day on social media.