Social Video Ad Spending Forecast 2023

Video formats officially account for more than half of ad spending on social networks in the US. As legacy platforms defend their market share against TikTok’s advance, advertisers have more social video options than ever before. KEY QUESTIONS How will social video fare during the expected ad downturn? Which platforms are winning the social video race? What role will social commerce and creators play in the social video landscape? Table of Contents: Executive Summary Social media will be the channel hit hardest by the digital advertising downturn. Social video ad budgets will weather the storm better than their nonvideo counterparts. Video now accounts for over half of all social network ad revenues. Meta still commands the largest share of the market, but its dominance is waning. As ad revenues falter, Meta’s growth strategy is all in on video. Snapchat’s growth rivals the giants. Twitter weighs down social video as it struggles to keep its head above water. TikTok’s meteoric grow