Social Media to Generate $23.6 Billion in Global Ad Revenues, Business and Industry Trends Analysis

With more than 3 billion social media users worldwide, global ad spending on such platforms is soaring.  Facebook (www.facebook.com) continues to be the dominant site among social media worldwide.  As of November 2021, the company had 2.098 billion monthly active users.  Facebook is building targeted advertising revenues based on likes and dislikes established in users’ profiles, to the extent that it is now one of the largest generators of online advertising revenue.  Advertisers want to be where potential customers are, and Facebook reported in early 2021 that its average user spends of 33 minutes each day on the site.  In…

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