Facebook dominates advertising spending on social networks

Facebook dominated social advertising in 2014, according to research.

The Social Media giant accounted for $11.4bn of the $15.3bn market for social media advertising, according to a report by Boston-based Strategy Analytics.

The market continues to grow exponentially, with a 41% increase in 2014.  Twitter took just 8% of the share, earning $1.2bn in ad revenue.

The report predicts the total social ad market will hit $19.8bn by the end of 2015 and $24.2bn by the end of the following year.

Nearly 25% of global social network users live in China where Facebook has no official presence, the report claims. Despite this, 1.4bn people actively use Facebook every month, accounting for 68% of the more than two billion users globally.

Other statistics from the report include:

The UK is the second largest market for social network ad spend, accounting for 8.2% of global social network ad spend in 2014, just edging out China (8%).

The US had the highest social network ad spend per social network user at $31.37 in 2014. This is expected to grow 27% to around $40 in 2015.