Brands are going where the people are and right now, the people are on Facebook. According to data out from MediaRadar retailers are the top ad-spenders within the social network, but merchants and brands aren't the only ones upping their social spending numbers. Both food and pharmaceutical brands have increase their spending since 2020 - each is up about 2x higher than their 2020 numbers so far this year.
Retail (17% of Facebook ad spend) and entertainment (16% of Facebook ad spend) brands are pushing the most money into Facebook ads and are showing about a 64% retention rate - meaning that these brands are continuing their social spend month to month.
More MediaRadar data can be found here.
Meanwhile, data from AppAnnie sheds light on why so many brands are upping their social spend: the amount of time consumers are spending within social. AppAnnie's researchers find that on average people are spending about 4 hours per day within apps, many of them social networks. That is about a 30% increase of the amount of time spent in-app in 2019. Much of the increase is due to the pandemic and changes in people's daily habits.
AppAnnie found that people are spending within apps, to the tune of about $9 billion more spent on apps and games from Q1 2020 to Q1 2021. In all, consumers spent about $32 billion in apps in Q1 2021.
Social networks are dominating the most downloaded charts, with TikTok, Facebook, and Instagram in the top 5; Facebook also topped the monthly active users listing for the quarter.
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