A new poll from E-Marketer Meta is a strong leader among digital platforms in terms of time spent and digital advertising. Although only 7.5% of users spend time on Meta’s apps, the company captures 21.3% of total digital ad spending, which is almost three times the time spent on its platforms.
According to the June 2024 forecast, Meta recorded the highest ad spend on Instagram, while all of its platforms saw a 7% increase in users, with a 10% increase in impressions and ad price.
In contrast, YouTube came in second place in terms of time spent on digital platforms, at 7.4%, and total ad spending, at 5.6%.
Netflix, on the other hand, accounted for 7.3% of the time spent on digital platforms, but only 0.3% of digital ad spending.
Meta’s strategy of making it easy to place ads and track ROI appears to be the main reason behind its lead in terms of time spent and ad spend. In contrast, ad growth on connected TV is slow, as it has been slow to keep up with the time consumers spend.
On the other hand, TikTok showed remarkable progress, recording 3.6% of the time users spend on digital platforms, and 3.4% of total advertising spending.
Spotify and Hulu outperformed in user acquisition, but they failed to generate significant ad spend, with Spotify accounting for 0.3% and Hulu accounting for just 1.3% of total digital ad spend.
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