At a recent conference hosted by investment bank Needham & Co., an unidentified advertising industry executive allegedly revealed just how much ad spend goes to Facebook over its social media peers. In short, the number is eye-popping.
The executive, who works for an ad agency that placed $1.4 billion in spend on social media for 2,200 brands last year, told Needham analyst Laura Martin that 85% of that amount went to Facebook alone, while only 3% went to Snap (SNAP - Get Report) and 10% to Twitter (TWTR - Get Report) . The other 2% was estimated to have been split evenly among e-commerce catalog Pinterest and professional services network LinkedIn (LNKD) (which is now owned by Microsoft (MSFT - Get Report) ).
"From his brand client's point of view, he stated that Facebook is tough to beat for many reasons," Martin said in a note on Monday, explaining that the major reason is Facebook's global scale of 1.2 billion daily users.
Facebook, the second largest digital publisher in the world behind Alphabet's Google (GOOGL - Get Report) , is expected to reel in $32.69 billion in global ad revenue this year, up 35% from 2016, according to eMarketer, an information source for how to do business in the digital age.
Editor's Pick: Originally published May 23.