Social Media Advertising Segment Projected To Surpass The $300 Billion Dollar Mark By 2024

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PALM BEACH, Fla. , March 10, 2023 /PRNewswire/ -- In the last few years, one of the main trends within Social Media Advertising is the further monetization of social networks and messenger apps. Recent reports from Statista said that the integration of shopping and payment solutions into social networks combined with exact localization will increase user engagement, conversions, and performance of advanced targeting. Besides the growth potential in the field of social networks, an integration or proliferation of advertising spaces within messenger apps such as WhatsApp or Instagram will rapidly increase the revenue potential of current market key players like Facebook.  Statista said: "Social media has turned into a source of inspiration, entertainment, and news. Naturally, it has also become one of the most effective digital marketing channels, with most companies embracing the power of social than ever before. As the number of social network users continues to soar and consumer shopping behavior is increasingly impacted by the likes of Instagram and TikTok, marketers vividly leverage these networks' drawing power for promotion. In 2022, social media ad spend stood at approximately 230 billion U.S. dollars, with spending expected to surpass the 300-billion-dollar mark by 2024. And while the U.S. remains the largest social media ad market globally, marketers from other countries are not getting off the social media train."   Active companies in the markets this week include: Thumzup Media Corporation (OTCQB:TZUP), Warner Bros. Discovery, Inc. (NASDAQ:WBD), Hasbro, Inc. (NASDAQ:HAS), Paramount Global (NASDAQ:PARA), KULR Technology Group, Inc. (NYSE:KULR).