
Facebook, Meta's original social media platform, has managed to survive
over two decades of fluctuating consumer interests, major lawsuits and market fluctuations, remaining as the most populous and best-monetized social network in the world.
According to a WARC Media
report, the platform is poised to surpass $100 billion in 2024, with a global advertising audience of 2.2 billion.
Facebook's revival, according to WARC, has been fueled by APAC advertisers
targeting Western Gen Z consumers, paired with the success of AI innovation and a decision to move away from targeting in favor of outcomes.
The media research company says it was able to
split Meta’s revenue by platform, with forecasts showing Facebook's Q3 2024 ad revenue growing 13.2% year-over-year and hitting $112.8 billion in 2026 -- making it only the second media brand in
history after Google in 2020 to exceed$100 billion in global ad revenue.
advertisement
advertisement
In the U.S., advertising spend on Facebook is set to grow to $39.5 billion by the end of the year, marking an 11.6%
year-over-year boost.
The platform's advertising business remains twice the size of the U.S.'s over-the-top (OTT) market and four times that of TikTok, while commanding a 29% share of the
country's retailer spend, according to Sensor Tower.
The recent integration of AI technologies and automation of ad-campaign creation, also known as Advantage+, is a major contributor to
Facebook's booming advertising business.
Over a million advertisers used Meta's AI tools over the last month, and Meta studies show Advantage+ shopping campaigns driving a 12% improvement in
ROAS in two years. This will directly influence investment by retailers to top $20 billion in 2024, per WARC's forecasts.
Facebook currently ranks among the top three commercial media brands
for reach in the UK across all age groups, and in Asia Pacific, Facebook is ranked the most influential platform for purchases in APAC, per GWI.
It is important to note that due to the
shifting and expanding social-media landscape, Facebook's global social market is actually shrinking.
In 2013, almost 90% of social ad dollars went to Facebook, but by 2025 WARC predicts that
Facebook will have halved to 38.2%, with Instagram -- another Meta-owned social app -- and TikTok catching up.