Let’s see what this week’s numbers say about online advertising, shall we?

• US mobile ad spending will cross $200 billion this year, representing over half (51.2%) of total media dollars spent in the US and nearly two-thirds (66.0%) of digital ad dollars. The vast majority of mobile ad spending will take place in apps, which will reach a dominant 81.9% share of mobile ad spending this year, but mobile web advertising also continues to add more dollars each year.
• Next year, Gen Z adults ages 18-24 will spend an average of 77 minutes per day on the platform, per our forecast. However, time spent on TikTok by US adults ages 18 to 24 is growing slower than any other generation, possibly because an increasing ad load is driving users’ elsewhere, according to eMarketer’s Social Time Spent by Generation 2024 report.
• As part of its Social Media Consumer Report, Hootsuite surveyed more than 6,000 adults ages 18-64 across the US, UK, Canada, and Australia who follow brands on social media and say social media has at least some influence on their purchase decisions. The results reveal that a majority of these respondents either strongly agree (12%) or agree (49%) that they’ve discovered new brands/products/services they’re interested in from paid/sponsored social posts.
• TikTok remains American teens’ favorite social media platform, but its dominance has ebbed as Instagram mounts a strong challenge, according to the latest – Spring 2024 – edition of Piper Sandler’s Taking Stock with Teens report, which is released every 6 months. The survey asked 6,020 teens (with an average age of 16.1 years) to identify their favorite social media platform. The largest share – 35% – cited TikTok. However, this was down from 38% in the previous Fall 2023 edition and is TikTok’s smallest share in a couple of years. Still, more teens report using TikTok “almost constantly” than any other social media platform, per recent research.