A new survey by Emarketer shows that Meta is far ahead of other apps in terms of digital time spent on the platform and total digital ad spending. What’s interesting is that Meta’s digital ad spend is nearly three times the total time spent on the platform. The survey shows that time spent with digital on Meta apps is 7.5%, while its total digital ad spending is 21.3%, as of June 2024 forecast. Meta has the highest ad spend on Instagram, with the number of users growing by 7% on all Meta platforms with 10% increase in impressions and price per ad.
On the other hand, YouTube has the second highest time spent on digital (7.4%) and total digital ad spending(5.6%). Netflix reported 7.3% of time spent on digital, with only 0.3% digital ad spending. Netflix and YouTube aren’t keeping up with the consumer shift from linear to digital because of Connected TV (CTV).
The reason why Meta has the highest time spent on digital and highest ad spending is probably its strategies to facilitate easy ad placements and trackable ROI. Ad industry isn’t growing much on connected tv because they are slow to meet consumer time spent.
TikTok also showed some good progress in digital time spend and ad spending. It reported 3.6% of the time spent with digital, and 3.4% total ad spending on the platform. Spotify and Hulu were good at spending time with digital, but couldn’t get noticeable ad spending. Spotify has 0.3% total digital ad spending, while Hulu has 1.3% ad spending.
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