Social media ad sales in the United States registered a 36% year-over-year growth in 2021 to reach $58 billion. However, this sector is currently facing a strong rebuff as inflation touched a multi-decade high. Global social media ad sales are now expected to grow by 11%, the slowest pace on record.
Mark Mahaney, a senior managing director at Evercore ISI, said, “Corporations, the ones that spend money on marketing campaigns, are seeing cost inflation in a variety of other parts of their business. So at the margin, that probably means they have less money to spend on marketing.”
