Twitter’s advertising business around 2024 appears to be damaged by 39.1%. Its numbers were similarly down for Google, Amazon, Snapchat, Meta and TikTok.
Amazon, Google, Snapchat, Meta, Twitter and TikTok are expected to enjoy the most ad spending in 2022 of the six platforms that Insider Intelligence released its global advertising projection.
Insight Intelligence released its updated forecast for worldwide ad spending in 2022, changing its numbers by dropping for each of the six organizations it examined: Twitter, Amazon, Meta, Google, TikTok and Snapchat. However, Twitter will predict a particularly unpleasant journey.
The research company estimated that international digital ad spending will reach $567.49 billion in 2022, an increase of 8.6% compared to its previous forecast of a 15.6% increase to $602.25 billion. Additionally, Insider Intelligence lowered its forecast for global digital ad spending in 2024 from $756.47 billion to $695.96 billion.
Insider Intelligence cut its forecast for Twitter’s ad business in 2024 by 39.1%, predicting a rise in worldwide ad revenue of just 4.9% this year to $4.67 billion, from its first-quarter forecast for growth 25.1% to $5.58 billion. The researcher now expects growth in the next two years to be virtually flat, from initial forecasts of 21.6% in 2023 and 16% in 2024.
Meta is expected to experience the first ever decline in its business. Insider Intelligence estimates its worldwide digital advertising revenue for 2022 at $112.68 billion, down 2% from last year and well below the initial expectation of $129.16 billion. The 20% drop in Meta’s ad spending forecast through 2024 sees Facebook generate $69.41 billion in digital ad revenue globally, well below its $75 billion forecast for the first quarter and down 4.6% from 2021. Insider Intelligence predicts $75.11 billion in worldwide advertising revenue for Facebook in 2024, a drop of more than $10 billion from its initial forecast.
For Snapchat, Insider Intelligence’s new forecast showed total global ad sales of $3.97 billion, up 17.1% from a year ago, but still well short of the researcher’s previous figure of $4.86 billion. Insider Intelligence predicts that Snapchat’s worldwide ad revenue will be $5.81 billion by 2024, a 33.6% drop from the $8.75 billion it initially forecast. The company lowered its initial forecast from $11.64 billion to $9.89 billion, representing a 155% year-over-year increase in TikTok’s worldwide ad revenue. Likewise, the researcher’s forecast for 2024 showed a global ad revenue of $18.49 billion, down 21.6% from the $23.58 billion it had initially predicted.
Google suffered significantly less compared to other social platforms examined by Insider Intelligence. It cut its net ad revenue for 2022 from $174.81 billion to $168.44 billion, a drop of just 2.8%. Meanwhile, for Amazon, Insider Intelligence forecast international digital ad sales of $55.99 billion in 2024, down from an initial forecast of $63.48 billion, and $37.99 billion in 2022, a slight decline from the first-quarter estimate of $41.75 billion.
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